Apple Invests Millions To Back Entrepreneurs of Color, Part of Racial Justice Effort

Apple on Wednesday said it was putting $60 million into a fresh round of projects aimed at challenging systemic racism, including its first foray into venture capital funding to back entrepreneurs of color. From a report: Apple said it would invest $10 million in a fund with Harlem Capital, a New York-based early-stage venture firm, with the goal of helping fund 1,000 companies over 20 years. Apple will invest $25 million in Siebert Williams Shank’s Clear Vision Impact Fund, which provides financing to small- and mid-sized businesses, with an emphasis on minority-owned firms. Apple will become a limited partner in funds at both.