Chicago’s Chingona Ventures lands part of $50M investment from PayPal

Chicago-based Chingona Ventures is one of eight early-stage, Black and Latinx-led venture capital funds that’s receiving a slice of a $50 million investment from PayPal. PayPal, the San Jose-based payments giant, is providing the capital as part of a commitment to invest $530 million to support Black-owned businesses. PayPal said it will work collaboratively with the VC funds it's providing capital to, and in some cases, invest directly in businesses through PayPal Ventures. Typically, PayPal…