Arlan Hamilton, founder of Backstage Capital, announced Friday that her role at the firm she started in 2015 will evolve. 

“After 12 years of being deeply involved in the day-to-day operations, I’ve decided to transition into a chairperson and advisory position,” she wrote in a statement released online. She was previously a managing partner at the firm. “This move will allow me to focus on what I do best — amplifying Backstage’s mission, hosting office hours with founders and investors, chairing the advisory board, and bringing new opportunities to the table through my platform.” 

She also wrote that the firm will enter a strategic partnership with 360 Venture Collective, which will be “acquiring a significant stake in Backstage’s management entity” and joining in co-managing 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 stormy winds these past few years. The firm has invested in more than 200 companies, according to PitchBook, including the fintech Guava and information platform Career Karma. It has around $20 million in assets under management, with 56 exits. But we reported back in 2022 that even then there seemed to be a slowdown at the firm. It announced at the time that it would back only existing portfolio companies and that it would substantially downsize its team from 12 people to three. 

Hamilton also noted in her podcast at the time that she was frustrated with limited partners, saying the firm found itself in a “purgatory kind of position,” because some investors believed it already had enough support, even though that wasn’t the case. The landscape for firms like Backstage and for founders like the ones it backs has only become more fraught since 2022. Funding and support to diverse founders and operators has somewhat stalled, especially for Black founders.

Hamilton wrote in her online statement that the firm’s partnership with 360 Ventures would ensure the firm remains sustainable “while multiplying our ability to support underestimated founders and create a lasting legacy,” she said. 

“I’m confident that this next chapter will take us to incredible heights and I’m honored to continue being part of the journey in this new capacity.”