NEW YORK, Jan 13 (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 colour.
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.
Apple invests millions to back entrepreneurs of colour
FE Team | Published: January 14, 2021 00:07:27
Apple invests millions to back entrepreneurs of colour
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