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Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
A diaspora-heavy day. We ran twin profiles of Lo Toney, the former Google Ventures and Comcast Ventures partner who built Plexo Capital into one of the most influential checks in Silicon Valley's diversity conversation — one on his playbook, one on the six companies that define his portfolio. We also published a deep look at Marlon Nichols, who spotted Blavity, Gimlet Media and Truebill before the rest of the market caught on and built a $600 million venture empire out of those calls.
Elsewhere, Michael Jordan's private dining club in Sarasota is already expanding before it has opened its doors. And in North America's wealth ecosystem, the story we keep coming back to is the same: the founders and fund builders from diaspora backgrounds are deploying institutional-scale capital on the same deals the old establishment is chasing — and in several cases, beating them to it.
Top Stories
How Lo Toney built Plexo Capital into a venture power broker A former Google Ventures and Comcast Ventures partner, Toney built Plexo as a fund-of-funds and direct investment platform focused on emerging managers and founders who sit outside traditional VC pipelines. The bet has compounded into one of the most closely-watched platforms in the Valley.
6 companies in Lo Toney's portfolio that show how he is reshaping venture capital The companion piece — the six names that illustrate Toney's thesis about where the next generation of fund returns will come from.
Marlon Nichols: 7 companies that built a $600 million venture capital empire Nichols bet early on Blavity, Gimlet Media and Truebill. Those calls — and several others — compounded into MaC Venture Capital, now managing approximately $600 million.
Lifestyle
Michael Jordan's unopened Sarasota dining club is already getting bigger Jordan's private members club in Sarasota has not yet opened, and expansion plans are already in motion.
This week's Investor Memo is available for Elite subscribers:
