Bank of America announces Equity Investments to Women Entrepreneurs

In a recent announcement, Bank of America Corp has made a commitment to provide more than $500 million equity investments to minority and women entrepreneurs-led funds which more than doubling from the initial $200 million commitment by the firm.

Equity for over 150 funds has been committed by the bank to which it has invested in more than 1,000 companies till date. It spans 40 states, according to the bank. The companies where the bank has invested are led by 1,500 diverse entrepreneurs and employ more than 21,000 people, exemplifying the fulfilment of the commitment.

Bank of America’s Global head of Strategic and Sustainable Investments, Tram Nguyen said, “As a company, we looked at how to support women and diverse entrepreneurs. Capital to under-resourced entrepreneurs has the effect of unlocking their potential to grow their businesses locally and to create economic opportunity.”

She added, “Each time we support a minority or women-led fund, they in turn support diverse entrepreneurs, which ultimately helps us toward achieving our goal to advance racial equality and economic opportunity.”

Amongst all the funds, one is Nasir Qadree founded, Zeal Capital Partners that provides resources to founders which they require to business scaling for next level of growth.