In May, when Backstage Capital founder Arlan Hamilton announced the formation of a $36 million fund to invest in black women, she was surprised at the reaction. "They're calling it a diversity fund," she tweeted. "I'm calling it an IT'S ABOUT DAMN TIME fund." Hamilton is in the process of raising that fund; in the meantime, she's used her first, $5 million fund to invest $4 million in 100 entrepreneurs who are women, people of color, and/or members of the LGBTQ community. They include the founders of Tinsel, BeVisible, Blendoor, and Uncharted Power.