‘We want to find gems’: the black venture capitalists invested in change

Impact X, set up to support businesses run by or for minorities and women, is on its way to raising 100m

Bola Adegbulu's idea came to him by accident - literally. Narrowly avoiding a car crash inspired the Londoner's idea for smart navigation software that could predict the safest route for drivers and prevent some of the 1.3 million deaths due to road accidents globally each year. With more than 90% of those fatalities taking place in developing nations, including Adegbulu's native Nigeria, the concept hit home.

The 30-year-old spent two years working on the pilot for his company, Predina, with co-founder Meha Nelson, before clinching funding from Impact X Capital Partners: a new black-owned-and-run venture capital firm in London aiming to reverse the lack of funding for startups led by, or serving, women and people of colour.