Arlan Hamilton has announced changes to Backstage Capital, joining the advisory role

Arlan Hamilton, founder of Backstage Capital, announced Friday that his role at the company he founded in 2015 will change.

“After 12 years of being very involved in the day-to-day operations, I have decided to change to a chairman and advisory role,” wrote a statement that was released online. He was previously a manager at the company. “This move will allow me to focus on what I do best – growing Backstage’s work, having office hours with founders and investors, leading a team of advisors, and bringing new opportunities to the table on my platform.”

He also wrote that the company will form a partnership with 360 Venture Collective, which will “take a greater role in the management of Backstage” and join the management team, provide funding, and support the ventures.

“Together, we are establishing a $200 million fund in 2025,” Hamilton said.

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

Backstage Capital has weathered a storm over the past few years. The firm has invested in more than 200 companies, according to Pitchbook, including fintech Guava and information platform Career Karma. It has $20 million in cash under management, and exits of 56. But we reported in 2022 that even then it seems to be declining for the company. It announced at the time that it would return existing companies onlyand that it will be more reduce his team from 12 people to three.

Hamilton also said in his podcast at the time that he was disappointed by a few friends, saying that the company was found to have a “purgatory position,” because some investors believed that they had enough support, although this was not the case. The appearance of companies such as Backstage and startups as their returnees will only increase from 2022. Funding and support for startups and various employees has been suspended, especially for Black founders.

Hamilton wrote in an online statement that the company’s partnership with 360 Ventures will ensure the company’s continued sustainability “as we increase our ability to help startups envisioned to create a lasting legacy,” he said.

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