Arlan Hamilton announces changes at Backstage Capital, will move into an advisory role

Backstage Capital founder Arlan Hamilton announced Friday that his role at the firm he started in 2015 will evolve.

“After 12 years of being deeply involved in day-to-day operations, I have decided to move into the role of chairman and consultant” he wrote in a statement posted online. He was previously a managing partner at the firm. “This move will allow me to focus on what I do best – strengthening Backstage’s mission, holding office hours with founders and investors, chairing the advisory board and bringing new opportunities to the table through my platform.”

He also wrote that the firm will enter into a strategic partnership with 360 Venture Collective, which will “acquire a significant stake in Baxstage’s management entity” and join in co-managing the operators, providing capital and helping the firm scale.

“Together, we’re launching a $200 million fund in 2025,” Hamilton said.

We’ve reached out to Hamilton and Backstage Capital for comment.

Backstage Capital has weathered some headwinds over the past few years. According to Pitchbook, the firm has invested in more than 200 companies, including fintech Guava and information platform Career Karma. It has approximately $20 million in assets under management with 56 outlets. However, we reported in 2022 that even then there is a slowdown in the company. At that time, he announced that he would return existing portfolio companies onlyand that it would be significant downsize your team From 12 people to three people.

Hamilton noted on his podcast at the time that he was frustrated with the limited partners, saying the firm found itself in a “cleanup position” because some investors believed it already had enough support, even though it didn’t. For founders like firms like Backstage and the companies it backs, the landscape has only gotten tougher since 2022. Funding and support for various founders and operators has come to a standstill. especially for Black founders.

Hamilton said in an online statement that the firm’s partnership with 360 Ventures will ensure the firm’s sustainability while “increasing our ability to support undervalued founders and create lasting legacies.”

“I am confident that this next chapter will take us to incredible heights and I am honored to continue to be a part of the journey in this new opportunity.”