Innovation

Bank of America invests in Black founders

March 14, 2023

The Bank of America will invest in the Black Founders Matter Fund, a venture based in Portland, Oregon that focuses on investing in Black-owned businesses, according to a press release.

The BFM Fund supports groups such as Saysh, a footwear and apparel brand, Hued, a healthcare startup that partners with Serena Williams and Glow UP Games, a mobile game for HBO's show Insecure.

"Bank of America's equity investment in The BFM Fund underpins our commitment to scale positive change and drive economic opportunity by addressing pervasive funding gaps for minority-owned and led businesses, entrepreneurs and innovators," Roger Hinshaw, Oregon and Southwest president, Bank of America, said in the release. "By providing growth capital and support to diverse entrepreneurs, The BFM Fund will open new doors to greater economic growth and wealth creation within an underserved segment of the economy."