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On October 25th, the NAACP introduced NAACP Capital, a pioneering $200 million fund invested in strengthening communities and improving equity nationwide.
NAACP Capital will function as a traditional fund, providing a co-investment plan that will provide resources and advocacy to various innovative companies. Moreover, the fund will highlight segments, including ed tech, fintech, health tech, and climate tech, welcoming support to marginalized communities.
President & CEO releases a statement about fund
President and CEO of the NAACP, Derrick Johnson explains how the legacy of the organization is involved through inclusivity and diversity.
“As an ever-evolving legacy organization, the NAACP knows that innovation is borne out of inclusivity. Impact investing has the power to drive historic financial returns and uplift overlooked communities. Right now, deeply entrenched systemic barriers are curtailing the innovative progress necessary to breed healthy competition in a global economy. We’re seeking to change that.
Investment is the backbone of impact, and impact investing will shape socioeconomics for generations to come. It’s time to invest in fund managers who share a forward-looking vision that invests in innovation and technology ensuring the economy works for everybody, not just a select few.”
By supplying capital and resources to marginalized entrepreneurs, this visionary program strives to fuel economic empowerment and further social change.
NAACP Capital Promotes Racial Justice
In partnership with Kapor Capital and the Kapor Center, this fund emphasizes the NAACP’s dedication to encouraging financial equality and racial equity. Also, included in this collaboration are nine venture fund managers.
Because of the investments in inclusive fund managers and ventures, the NAACP Capital seeks to employ the power of creativity and technology to pivotal collective barriers.
Jay Lundy emphasizes importance of fund
Managing Director of NAACP Capital, Jay Lundy conveys his passion about transforming technology to enhance the future.
“Through this fund, we have an opportunity to invest and capitalize the next generation of managers and founders who will work to bring technology and innovation into our communities.”
With his years of experience, he is able to provide a positive outlook on this program. Furthermore, Lundy explains how the investment strategy focuses on generational impact. With help from the tech breakthrough, “driving both impact at scale and top returns on investment.”
For more than 115 years, the NAACP has pushed for fairness and equal opportunities, regardless of skin color. By varied skills and groundbreaking solutions, NAACP Capital strives to establish a welcoming space filled with equality and success.
Through specialized fund managers and direct startups, the NAACP Capital stimulates technology and the advancement of the capital system.