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Ally celebrates Black Business Month by investing $30 million in Black founders, businesses and communities

Ally celebrates Black Business Month by investing $30 million in Black founders, businesses and communities

Mastercard : Furthers Support for Black Women Entrepreneurs with Multi-Million Dollar Investment in Fearless Fund, a Venture Capital Firm Built by Women of Color for Women of Color

Investment continues company’s Strivers Initiative elevating and supporting Black, women entrepreneurs Black women are building and growing businesses faster than any other segment and yet receive less than one percent of venture capital funding. In addition, only three percent of the people actually leading investments at VC firms are Black according to the National Venture Capital Association. To help further access to funding for Black women, Mastercard today announced a multi-million dollar investment in Fearless Fund, a venture capital fund built by women of color for women of color. “The significant investment gaps in women-founded companies, which is especially acute for Women of Color, holds everyone back,” said Michael Froman, president of strategic growth, Mastercard. “The need to narrow this gender and racial disparity is critical in driving forward innovation and fueling inclusive, sustained economic recovery across our country. We are investing in Fearless Fun

Mastercard and Jennifer Hudson Launch Multi-Faceted Platform Supporting Black Women-Owned Businesses

Press release content from Business Wire. The AP news staff was not involved in its creation. Mastercard and Jennifer Hudson Launch Multi-Faceted Platform Supporting Black Women-Owned Businesses February 17, 2021 GMT PURCHASE, N.Y. (BUSINESS WIRE) Feb 17, 2021 Black women-owned businesses are vital to our economy and are amongst the hardest hit by the impacts of the pandemic. Today, Mastercard is announcing the Strivers Initiative, a consumer-facing platform, elevating the visibility of Black female business owners overcoming obstacles to maintain and grow their business, as role models for the community and future generations. The initiative will kick-off with a national ad spot featuring Black women business owners from across the U.S. and GRAMMY Award winning singer/songwriter Jennifer Hudson.

Costco Wholesale Commits $1 Million to Venture Capital Firm Fearless Fund to Support Women of Color Founders

Posted on 228 Fearless Fund, the first VC fund built by women of color, for women of color, has received a $1 Million investment from Costco Wholesale Corporation (Nasdaq: COST) as a sign of support for the fund’s mission to address the disparity that exists in venture capital funding for women of color-led businesses. Launched in 2019, Fearless Fund invests in WOC-led businesses seeking pre-seed, seed level or series A financing. Its mission is to bridge the gap in venture capital funding for female founders of color building scalable, growth aggressive companies. The Fearless Fund team also runs The Fearless Foundation, a 501c3 organization with a goal to educate entrepreneurs through training, reduce racial inequities, and empower African-Americans to gain access to capital, as well as the Get Ready Venture Program, a 12-month training program for WOC business owners to acquire the needed training, mentorship, know