Bank of America Announces Investments in 40 Private Funds Focused on Minority Entrepreneurs for Approximately $150 Million
Bank of America Corporation (BAC)
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Source: Business Wire
And has completed a total of 12 Equity Investments in MDIs and CDFI Banks CHARLOTTE, N.C.--(BUSINESS WIRE)--On June 2, Bank of America made a $1 billion, four-year commitment to advance racial equality and economic opportunity, of which $200 million was allocated to support Black, Hispanic-Latino, other under-represented minority and women entrepreneurs. Today, Bank of America announced it will invest approximately $150 million in 40 funds, based in 21 markets across the U.S. These investments will underscore Bank of America’s ongoing efforts to address the persistent gap in access to growth capital for minority-led businesses.“By accelerating the flow of capital into funds focused on investing in Black, Hispanic-Latino, other under-represented minority and women-led businesses, we can help level the playing field,” said Brian Moynihan, CEO of Bank of America. “These funds support diverse entrepreneurs across the U.S. and will drive innovation and economic opportunities, creating m
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