Felecia Hatcher, CEO of the Black Ambition Prize, recently joined the Earn Your Pleasure podcast to discuss the critical role her firm plays in empowering diverse entrepreneurs.
Black Ambition, an initiative founded by Pharrell Williams, offers capital, mentorship, and resources to Black and Latinx entrepreneurs.
Hatcher shared insights into the fund’s impact, revealing that they’ve helped entrepreneurs raise over $100 million in funding.
During the podcast, Hatcher spoke passionately about the importance of moving beyond superficial mentorship, often described as “over mentored but underfunded.”
She explained that too many mentors provide advice without making essential business connections, which limits true growth.
Reflecting on her experience, she spoke about the power of mentorship that goes beyond advice to provide real access to networks and opportunities, particularly for entrepreneurs aiming to scale their businesses.
Hatcher pointed out that while some mentors provide valuable guidance, others fail to leverage their networks to open doors for Black entrepreneurs.
“If I needed the buyer for Whole Foods and you had that person as a contact, but you wouldn’t make that phone call for me, you’re doing me more of a disservice,” Hatcher said.
With a focus on closing the gap in funding and resources for Black and Latinx entrepreneurs, Black Ambition continues to drive change by combining capital with meaningful mentorship, helping founders scale their businesses in a competitive market.
