Apple invests millions to back entrepreneurs of color, part of racial justice effort
( go to the article → https://datafloq.com/read/apple-invests-millions-to-back-entrepreneurs-of-color-part-of-racial-justice-effort/11742 )
By Stephen Nellis (Reuters) - Apple Inc on Wednesday said it was putting $60 million into a fresh round of projects aimed at challenging systemic racism, including its first foray into venture capital funding to back entrepreneurs of color. Apple said it would invest $10 million in a fund with Harlem Capital, a New York-based early-stage venture firm, with the goal of helping fund 1,000 companies over 20 years. Apple will invest $25 million in Siebert Williams Shank’s Clear Vision Impact Fund, which provides financing to small- and mid-sized businesses, with an emphasis on minority-owned firms. Apple will become a limited partner in funds at both. "There's a lack of diversity among venture capital and banking funders," Lisa Jackson, Apple’s vice president of environment, policy and social initiatives, told Reuters. ...Read More on Datafloq
Jan. 13, 2021, 6 p.m.