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Fund of Funds

2 mins read

NAACP Launches $200M Fund to Invest in Diverse Founders and Fund Managers

Yesterday, the NAACP, the nation’s oldest and largest civil rights organization, announced the launch of NAACP Capital, a $200 million fund of funds that will invest in diverse fund managers and startups focused on addressing systemic inequities.

This bold initiative aims to drive economic empowerment and social change by providing capital and support to underrepresented entrepreneurs.

The fund, conceptualized in partnership with Kapor Capital and Kapor Center, is a testament to the NAACP’s commitment to advancing racial justice and economic equality. By investing in diverse fund managers and startups, NAACP Capital seeks to unlock the full potential of innovation and technology to address critical societal challenges.

“As an ever-evolving legacy organization, the NAACP knows that innovation is born out of inclusivity,” said Derrick Johnson, President and CEO of the NAACP. “Impact investing has the power to drive historic financial returns and uplift overlooked communities.”

Jay Lundy, Managing Director of NAACP Capital, brings a wealth of experience in venture capital and impact investing to the role. He is passionate about leveraging technology to create a more equitable future and is excited to lead this groundbreaking initiative.

“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,” said Lundy. “Our investment strategy will target the intersection of generational impact and tech innovation, driving both impact at scale and top returns on investment.”

NAACP Capital will operate as a standard fund of funds and co-investing strategy, providing capital and support to diverse fund managers and startups.

The fund will focus on sectors such as fintech, healthtech, edtech, and climate tech, where innovation can have a significant impact on underserved communities.

By investing in diverse talent and innovative solutions, NAACP Capital aims to create a more inclusive and equitable future for all.

by Tony O. Lawson

Are you interested in investing in Black founders? If so, please complete this brief form.

2 mins read

Fairview Capital Secures Investment from New York Life

New York Life, the nation’s largest mutual life insurer, announced today that it has acquired a minority stake in Fairview Capital, one of the largest minority-owned investment management firms in the U.S.

Fairview is a leader in venture capital and private equity investing, with over $10 billion under management since its inception 30 years ago. The firm invests on behalf of institutional investors, including public and private pension plans, foundations, and endowments.

Fairview’s leadership team will retain majority ownership of the firm following this investment. This team includes Co-founders JoAnn Price and Larry Morse, alongside Managing Partners Kola Olofinboba, Alan Mattamana and Aakar Vachhani, and Partner Kwesi Quaye.

This partnership promises mutual benefits. “New York Life’s investment will create exciting opportunities for Fairview’s growth,” stated Larry Morse, Fairview’s Co-Founder. “We’ll be able to accelerate our expansion and collaborate with the industry’s top venture capital firms and leading diverse and emerging fund managers,” he elaborated.

Fairview Co-Founder JoAnn Price underscored the firm’s unwavering commitment to transforming the venture capital and private equity landscape. “We remain dedicated to fostering positive change within the industry while maximizing value for our investors,” Price remarked.

This move bolsters New York Life’s $1 billion impact investment initiative, launched in 2021 to tackle the racial wealth gap. The company has already committed $200 million to Fairview, which has subsequently invested in numerous diverse and emerging fund managers, impacting hundreds of businesses in total.

by Tony O. Lawson

Interested in investing in Black founders? If so, please complete this brief form.

1 min read

Pioneering Inclusive Institutional Investing: A Conversation with JoAnn Price of Fairview Capital Partners

JoAnn Price is the co-founder and managing partner of Fairview Capital Partners, one of the largest minority-owned investment companies in the United States. Since its establishment, the company has amassed a remarkable aggregate fund capitalization exceeding $10 billion.

Fairview Capital Partners invests on behalf of institutional investors, including the world’s leading foundations, endowments, pension plans, and family offices.

Drawing from her extensive 30-year background in finance and investment, JoAnn Price has played an essential role in reshaping the landscape of diverse and emerging manager investing. Her visionary leadership has contributed significantly to Fairview Capital Partners’ ascent and its transformative impact on the industry.

In this conversation, we delve into JoAnn’s journey, from her early experiences that shaped her perspective to the pivotal moments that led to the inception of Fairview Capital Partners.

Her insights into the power of diversity, equity, and inclusion in the investment sector offer a unique vantage point on how to foster meaningful change in an ever-evolving financial landscape.

by Tony O. Lawson

Interested in investing in Black founders? If so, please complete this brief form.