Tim Armoo Launches £5 Million Legon Fund for Minority AI Startups

1 articles · Updated · Fortune · Aug 31

£5 million of Tim Armoo’s own money will back AI startups founded by minority entrepreneurs through his newly launched Legon Fund, aimed at removing early funding barriers.
Armoo said AI and social platforms have made it "scarily easy" to build wealth, arguing founders can cheaply build products with tools like ChatGPT and Claude, then win customers online.
The launch comes as entry-level hiring slows and Gen Z graduates struggle to land jobs, pushing more young workers toward self-employment rather than traditional corporate careers.
43% of Gen Z are considering starting a business in 2026, according to Intuit, while LinkedIn says "founder" is the generation’s second-fastest-growing job title.