SOFTBANK TO LAUNCH $100M FUND BACKING COMPANIES LED BY PEOPLE OF COLOR

SoftBank COO Marcelo Claure said in a letter to employees early Wednesday that the firm will create a $100 million fund that “will only invest in companies led by founders and entrepreneurs of color.”

The Opportunity Growth Fund is one of the first to put significant capital behind companies’ statements of empathy and outrage in response to protests over systemic racism in the U.S. typified by the killings of George Floyd, Breonna Taylor and other African Americans by police.

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