How Synchrony aims to diversify venture capital with $15M investment
FacebookTwitterEmail
Synchrony, the country’s largest private-label credit card provider, is headquartered at 777 Long Ridge Road in Stamford, Conn. The company has committed $15 million to support Black, Latinx and women-led venture capital firms.Alexander Soule / Hearst Connecticut Media
STAMFORD A year ago, in the wake of the murder of George Floyd and ensuing nationwide protests, the country’s largest private-label credit card provider pledged to ramp up its diversity, equity and inclusion efforts.
Today, it continues to launch initiatives to support that commitment.
Stamford-based Synchrony is allocating $15 million to several venture capital funds led by Black, Latinx and female partners. The consumer financial-services giant said that the funding reflects its support of minority and women entrepreneurs and underrepresented communities, while the firms it is supporting praised the company for backin
BBC News
By Ashitha Nagesh
image copyrightGetty Images
In March 2020, as the UK, parts of the US and elsewhere, went into their first lockdown, millions of people suddenly had a lot more time alone at home, with the internet as their friend.
On social media others seemed to be having the times of their lives playing with their dogs, posting adorable photos and recording cute animal-themed TikToks.
The message: a furry friend would make lockdown a lot less lonely.
People who had been putting off getting a dog because of a lack of time at home suddenly had a glut of it. They saw lockdown as the perfect opportunity to finally raise a puppy.