Impact X Capital Partners Announces Milestone Equity Investment from Bank of America

Bank of America joined by Visa Foundation, Guy’s and St Thomas’ Foundation and Atomico

LONDON, England [March, 2024] – Impact X Capital Partners, a pioneering double bottom line venture capital firm which invests in underrepresented entrepreneurs, has announced that Bank of America is making a key equity investment in its IX Global I fund.

The fund will address access to capital inefficiency by investing in founders and start-ups across the UK and Europe, which are led by women and entrepreneurs of colour. It will target businesses in Impact X’s growth sectors that include digital and technology, media and entertainment, health, education and well-being.

In a move that underscores a growing awareness of the significant ROI potential of investing in historically underrepresented groups, Bank of America is joined by the Visa Foundation, Guy’s and St Thomas’ Foundation and Atomico in investing in the fund.

Bernard Mensah, President of International, Bank of America said: “Bank of America’s investment in Impact X’s IX Global I fund underscores our ongoing commitment to advance economic opportunity for diverse people and communities. We look forward to working with Impact X to create long term value for shareholders and more equitable and sustainable future for all.”

Eric Collins, CEO and Impact X Founding Partner said: “At Impact X, our purpose has always been to create ROI and future resistant jobs by supporting and empowering innovators who have historically been underrepresented in the portfolios of other venture capital companies. Our mission is to shine a light on the market inefficiency that exists when it comes to that particular demographic in the UK and Europe and this collaboration will lean into that inefficiency.

“We are delighted to be partnering with Bank of America, the Visa Foundation, Guy’s and St Thomas’ Foundation as well as Atomico. This historic capital allocation not only validates our track record but also equips us with the resources to make a lasting impact on diverse-led businesses.

“Amplifying the intention to provide catalytic capital to innovators in Europe and the UK, the first investment from Impact X Global I is in iKnowa, a UK proptech company.”

Paula Groves, Founding Partner and Chief Investment Officer added “Until underrepresented entrepreneurs reach economic parity in terms of the access to and allocation of capital, this work will continue to be very important. The persistent statistics over the last 25 years have been that less than 4% of venture capital goes to women and less than 1% goes to Black entrepreneurs. With our other partners, Impact X plans to make a powerful increase in these stats.”

This is the second fund from Impact X. Its pilot fund Impact X Launch, included outstanding founders and companies such as Marshmallow, named as Europe’s second fastest growing company, device subscription start-up Raylo and epic superhero fantasy series IYANU from YouNeek Studios.

Note to Editors:

Impact X Capital

Impact X Capital Partners is a double bottom-line venture capital firm headquartered in London, founded in 2019. The firm focuses on investing in underrepresented innovators in Europe, particularly women and founders of colour, in key sectors: digital and technology, health, education and well-being, and media and entertainment.

The company’s founding members include Ursula Burns, former CEO of Xerox and the first Black woman to head a Fortune 500 company; Sir Lenny Henry; and Ric Lewis, chairman of Tristan Capital Partners, a London-based real estate investment firm, who are all dedicated to promoting diversity and inclusion in entrepreneurship.

For more information see:

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Guy’s & St Thomas’ Foundation

At Guy’s & St Thomas’ Foundation, our mission is to build the foundations of a healthier society. For over 500 years, we’ve been a constant in London’s ever-changing landscape, at the leading edge of health. Our commitment and work is backed by our endowment, which allows us to take a long-term view while addressing the real and urgent health issues of today. Our focus is on backing people and ideas to drive more equitable health.

We invest, partner, engage and influence to come at big health challenges from all angles. Through our family of forward-looking organisations, we collaborate with our communities, partners and hospitals, and use our assets to transform lives. Across everything we do, we look to increase our impact by sharing and connecting with others working on better health – from our part of the city to cities around the world. Because a healthier society is our collective endeavour.

Visa Foundation

Visa Foundation seeks to support inclusive economies where individuals, businesses and communities can thrive. Through grant-making and investing, Visa Foundation prioritises the growth of gender diverse and inclusive small and micro businesses.

The Foundation also supports broader community needs and disaster response in times of crisis. Visa Foundation is registered in the USA as a 501(c)3 entity.


Atomico is a venture capital investment firm based in London, United Kingdom, that invests in innovative technology companies around the world. with a particular focus on Europe.

Founded in 2006, Atomico has partnered with over 100 ambitious teams – including those at Klarna, Supercell, Graphcore, Compass, MessageBird, Masterclass, Attentive Mobile, Pipedrive and Hinge Health.

Atomico’s team of founders, investors and operational leaders have been responsible for global expansion, hiring and marketing at companies from Skype and Google to Twitter and Uber.

The firm currently has $4.7B in assets under management.