Timothy Armoo Launches £5 Million Fund for Minority AI Startups

Entrepreneur Timothy Armoo launched the Legon Fund, committing £5 million of his own capital to support AI startups founded by minority entrepreneurs. Armoo, who previously built wealth through the influencer marketing agency Fanbytes, a tutoring service, and the publication Entrepreneur Express, argues that AI and social media have democratized entrepreneurship by removing traditional barriers like expensive advertising and physical storefronts.

Armoo describes the current technological landscape as an era where wealth creation is "scarily easy." This initiative arrives as AI integration slows entry-level corporate hiring, prompting more Gen Z graduates to pursue founder roles. Data from Intuit and LinkedIn shows that founder is now the second-fastest-growing job title among Gen Z, with 43% of the generation considering starting a business in 2026.