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/PRNewswire/ J.P. Morgan Asset Management today announced a new initiative within its Project Spark program, aimed at providing capital to venture capital.
Traders Magazine
J.P. Morgan Asset Management announced the launch of
Project Spark, a new initiative aimed at providing capital to funds managed by diverse, emerging alternative managers, including minority-led and women-led venture capital funds and other private funds.
As part of the new initiative, the firm has committed to an initial $25 million investment in five or more funds, to be governed by a newly established investment committee comprised of diverse senior executives across J.P. Morgan Asset Management. Recent data suggests that just 9% of firms in the private equity industry are women or minority led, while just 3% of U.S. focused private equity assets are managed by minority-owned firms.
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NEW YORK, March 8, 2021 /PRNewswire/ J.P. Morgan Asset Management today announced the launch of
Project Spark, a new initiative aimed at providing capital to funds managed by diverse, emerging alternative managers, including minority-led and women-led venture capital funds and other private funds.
As part of the new initiative, the firm has committed to an initial $25 million investment in five or more funds, to be governed by a newly established investment committee comprised of diverse senior executives across J.P. Morgan Asset Management. Recent data
1 suggests that just 9% of firms in the private equity industry are women or minority led, while just 3% of U.S. focused private equity assets are managed by minority-owned firms.