Softbank's new fund will specifically look to support founders from communities that face 'systemic disadvantages in building and scaling their businesses,' it said. — Bloomberg
SoftBank Group Corp has started a US$100mil (RM427.45mil) fund that will exclusively invest in companies led by people of colour, a group that’s historically been underrepresented in the venture capital industry.
Marcelo Claure, SoftBank’s chief operating officer, will lead the fund alongside Shu Nyatta, a managing partner who works on the company’s Innovation Fund, according to a statement from the company on June 3. The fund will specifically look to support founders from communities that face "systemic disadvantages in building and scaling their businesses,” it said.
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