Kofi Ampadu, a partner who spearheaded Andreessen Horowitz’s Talent x Opportunity Initiative, is leaving the firm following the indefinite pause of the TxO program. The move marks a turning point for one of Silicon Valley’s most visible efforts to expand access to venture capital for founders outside traditional networks.
Ampadu, who took over leadership of TxO from its initial steward Nait Jones, became a central figure in the firm’s strategy to back underestimated entrepreneurs. After TxO was paused, he contributed to the firm’s accelerator, Speedrun. In a farewell note to colleagues and founders, he reflected on the work as among the most meaningful of his career and highlighted the mission of identifying “out-of-network” talent and helping them sharpen ideas, raise capital, and grow as leaders.
Inside TxO and Kofi Ampadu’s Mandate at Andreessen Horowitz
TxO was designed to challenge the venture industry’s overreliance on proxies—elite schools, insider networks, and conventional pedigree—that often filter out exceptional founders. The program paired capital with hands-on support and access to the firm’s operator and investor network, seeking to bridge the gap between raw talent and opportunity.
Distinctively, TxO was financed through a donor-advised fund, enabling philanthropic dollars to underwrite investments and ecosystem support. That structure allowed for flexible, mission-aligned capital and the potential to recycle proceeds into future cohorts. At the same time, it drew debate over governance, incentives, and founder expectations, a tension that Ampadu and the team worked to balance as the program matured.
Beyond direct support to startups, TxO also launched a grant program offering $50,000 to nonprofits that help diverse founders with training, customer access, and investor readiness—an acknowledgment that founder outcomes depend on more than cap tables and demo days.
The Donor-Advised Fund Debate in Venture Investing
Using a donor-advised fund for venture-style investing is unconventional. Supporters argue it can catalyze high-risk, early-stage bets that traditional LPs rarely make, particularly for founders without warm introductions. Critics counter that philanthropic vehicles can blur lines between grants and equity, create uncertainty about follow-on capital, and complicate governance for portfolio companies.
Founders who participated in TxO frequently praised the quality of mentorship and the speed of network access. Others questioned whether the philanthropic wrapper and its constraints would scale in a market that prizes predictable check-writing and clear ownership incentives. Ampadu’s exit amid the program’s pause will likely intensify that discussion across the ecosystem.
Signals for Inclusive VC as Diversity Initiatives Reset
Industry observers read Ampadu’s departure as a sign that the TxO chapter may be closing, at least for now. It comes as many technology companies and investment firms reassess high-profile diversity, equity, and inclusion initiatives. The sector’s underlying disparities remain stark: analyses from Crunchbase have shown Black founders receive well under 1% of U.S. venture funding, while multiple studies, including from the NVCA and Kapor Center, point to persistent network gaps and structural barriers. Women-only founding teams continue to draw around 2% of venture dollars, underscoring how fragile progress can be in down cycles.
TxO’s combination of capital, curriculum, and network access earned it an outsized reputation relative to its size. Its pause leaves a hole that traditional accelerators and generalist funds have struggled to fill consistently. Programs like the Google for Startups Black Founders Fund and regional ecosystem grants have demonstrated strong demand for non-dilutive and early catalytic support, but they remain fragmented and often temporary.
What to Watch Next for TxO, Speedrun, and Inclusive VC
Ampadu has not disclosed his next move, but his track record suggests he will remain focused on unlocking opportunity for overlooked founders. Whether that means launching a new vehicle, joining another investing platform, or doubling down on accelerator work will be closely watched by entrepreneurs who were drawn to TxO’s mission.
For the firm, Speedrun continues to operate as an accelerator providing concentrated support to early-stage teams. Any decision to sunset, retool, or relaunch TxO—or to build a successor effort with a different capital base—will be read as a broader statement about the future of inclusive investing inside top-tier venture. In the meantime, founders navigating the current market would be wise to diversify financing strategies, blending mission-aligned programs, non-dilutive capital, and targeted operator networks to offset the pullback in traditional seed checks.
However the next act unfolds, Ampadu’s tenure leaves a clear lesson: when curated access meets patient capital, the talent pipeline expands quickly. The question now is who will fund and scale that model at a moment when it is needed most.
