Softbank Launches $100 Million Fund to Invest in Companies Led by People of Color
Softbank (OTC: SFTBF) is responding to protests sweeping the nation over the murder of George Floyd by launching a $100 million fund that will invest only in businesses owned by people of color.
Softbank Group International CEO Marcelo Claure told employees the Opportunity Growth Fund could grow beyond the initial $100 million if more investors come on board in a memo obtained by Axios. "Founders and entrepreneurs of color have so much potential, but they face unfair barriers that white founders don't face," wrote Claure. "This is our opportunity to remove those barriers for a new generation of founders."
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Source Fool.com
