Entrepreneurship can be lonely. This is a truth that's often not said. Last year, COVID-19 was a devastating event that affected the founders of our programs. Many founders needed to pivot their businesses to stay afloat, as they were kept apart by closing their offices and cancelling events. Because our mission is to equalize the playing field for startup founders underrepresented, I knew that we would need to be more proactive to make sure these founders don't fall through the cracks.
Google for Startups Black Founders Fund was created in response to the financial and societal pressures faced by Black founders. These pressures were always there, but they became more severe in 2020. We provided $100,000 in non-dilutive funding to 76 Black-led startups last year. This means that founders don't have to give up any ownership of their company in return for funding. This capital was used by founders to keep their doors open, hire their staff, and build their businesses. This funding will be available to more founders in the United States with the second $5 million investment into the U.S. Black Founders Fund. The total funds now stands at $10 million. The fund includes technical support from Google tools and teams, as well as donations of up to $120,000 from Google.org. It also includes up to $100,000 in Google Cloud credits.
Today we are announcing the 50 next recipients of the second Black Founders Fund in America. These leaders solve problems in education and healthcare. We have been hearing from the 126 founders in America about the importance to give back and pay it forward. We asked the founders of the first round to nominate recipients to the second fund.
After receiving these awards, we have seen the fund having a positive effect on founders raising capital. Our first group of founders raised more than $50 million collectively in less than one year. A majority of founders reported that the fund helped them grow their revenue and created jobs through the awards. The fund's financial impact is not to be underestimated. However, the most remarkable thing I have seen since its inception is not about money. It's the way that this group of founders has supported each other and made sure they weren't alone in this difficult time.
Goodie Nation facilitates weekly meetings for founders. They meet in small groups and can share experiences and other resources. Black Founders Fund 2020 recipient Gerald Youngblood from Tankee, a gaming platform for children, nominated Ofo Emergwu from Whose Your Landlord which provides renters more transparency. Joey Womack, CEO of Goodie Nation, introduced them to each other. Gerald gave advice on a negotiation approach and fundraising strategy that worked for Ofo, and then surprised him by the announcement that he was a recipient of the 2021 Black Founders Fund.
We recognize that not only Black founders face challenges when seeking funding for their businesses in America, but also other countries. Today, we launched the Latino Founders Fund as part of our $15 million commitment for economic justice in the Latino community. The Black Founders Fund was established in the U.S. in 2005. Since then, we have invested $16 million in over 200 Black founders worldwide. We are excited to welcome the next group to the Google for Startups Black Founders Fund.
