Fresno, Calif., April. 27, 2022 – Today Bitwise Industries announced the launch of BW Capital, an investment firm, and their first fund. Investors include Bank of America, The Central Valley Community Foundation, and others. The inaugural fund will be directly invested into underserved, underestimated founders and entrepreneurs within Central California to provide them with pre-seed financial support. Investments will focus on Opportunity Zones where these entrepreneurs and their companies will be supported and guided to either Initial Public Offering (IPO) or acquisition. “We set out to raise this fund to directly impact entrepreneurs who don’t have access to traditional startup capital,” said Trevor Thomas-Uribe, General Partner, Bitwise Capital. “We want to support companies not located in major tech hubs. The kinds of companies that are underrepresented in most Venture Capital (VC) portfolios, yet have the drive and talent to create innovative products. By helping them get to the next level, Bitwise Capital will also promote job creation in these regions, driving economic growth.” Bitwise Capital is managed by a team of professionals with a track record of successfully backing, and growing startup companies to profitability. Combined, the partners have decades of experience, with over 30 investments with 12 successful exits. These investments have generated over $500 million and created over 4,000 jobs. “Bank of America’s investment into Bitwise Capital underscores our ongoing efforts to address the persistent gap in access to growth capital for minority-led businesses.” said Mark Riley, president, Bank of America Fresno. “Being based in the ethnically-diverse Central Valley, Bitwise is well positioned to help more minority entrepreneurs scale their business ideas, which will ultimately spur job growth and increase economic opportunities across the region.” This funding will allow Bitwise Capital to invest in companies and as a result, new high-growth, high-wage jobs may become available to members of the communities that these investments will be focused on. The initial fund will be primarily used to support founders and entrepreneurs in rural, underserved areas in Central California, specifically in the cities between Merced and Bakersfield. Bitwise Capital takes a holistic approach and will be hands-on with its portfolio companies. Beyond the initial investment, Bitwise Capital supports its founders via developmental methodologies, network building and operational guidance. The investment process takes founders from early stages, straight through IPO or acquisition. About Bitwise Capital: The Bitwise Capital fund, managed by Bitwise Industries, was created to provide pre-seed funding to underestimated founders that come from non-traditional backgrounds in unexpected areas who are normally excluded from the technology industry. Bitwise Capital takes a hands-on approach through our investment process that takes founders through a development program which is designed to help companies IPO or be acquired. We leverage existing partnerships with private and public organizations to move the needle for companies in our portfolio.