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Black Economic Alliance Entrepreneurs Fund, Created To Support 'Overlooked And Underserved Founders, Has Raised $28.5M

The Black Economic Alliance (BEA) has launched the BEA Entrepreneurs Fund, raising $28.5 million to support Black, Hispanic, and Latino entrepreneurs in the U.S. who are often overlooked by traditional venture capital. This fund aims to address the significant funding disparities these founders face, where Black entrepreneurs receive less than 2% of venture capital despite representing 13% of the population, and Hispanic and Latino founders receive even less. The initiative not only seeks to provide financial backing but also to offer strategic support to help these businesses scale and succeed. The fund has already made investments in companies like Partake Foods, a Black-owned allergy-friendly snack company, and Tres Pontas, a Latino-owned sustainable coffee company, highlighting its commitment to fostering economic equity and growth among underrepresented groups.

Read the Full AfroTech Article at:
[ https://www.msn.com/en-us/money/economy/black-economic-alliance-entrepreneurs-fund-created-to-support-overlooked-and-underserved-founders-has-raised-28-5m/ar-AA1BSiji ]