In the midst of racial unrest gripping the nation with debates over access to opportunity and funding, the Minority Wealth Commission is partnering with Ben Carson, Jr. to launch a $250 million, private-sector investment fund aimed at boosting minority-owned businesses.
Managers of the fund, called FVLCRUM Fund, say they have snagged initial capital commitments of $50 million and will raise a total of $250 million to invest through a combination of equity and debt capital with the aim of jumpstarting communities they say have been underserved. The fund aims to hold investments for about nine years and to create $10 million of net worth on the personal balance sheets of the executive teams.
Original Source: By Just The News
