With the launch of a $200 million fund devoted to assisting Black fund managers and entrepreneurs, the NAACP is taking a historic step toward economic equality. This effort, called the NAACP Capital program, aims to give people of color access to capital, especially in high-impact areas including finance, technology, and health. To promote innovation and economic independence among communities of color, the NAACP strives to close the financial gaps that Black entrepreneurs frequently encounter.

The Significance of This:

Historically, it has been difficult for Black business owners and founders to get the capital and resources they need to expand and maintain their enterprises. A significant advancement, the new fund from the NAACP provides a crucial lifeline to gifted people with big ideas but little access to funding. This program supports the overarching goal of advancing economic justice and racial equality by giving Black companies the tools they need to prosper and leave a lasting impression.

The Benefits:

With an emphasis on a "fund of funds" concept, the $200 million fund co-invests with a variety of fund managers who are all committed to making a lasting difference in underprivileged communities. At the front of this effort are industries like fintech, healthtech, and edtech, where innovation has the potential to greatly improve community results. With its wide range of support, NAACP Capital seeks to reshape the landscape of what is feasible for Black-owned companies in the United States.

To learn more about the NAACP Capital program and its groundbreaking efforts, click here.