Packers, Brewers, Bucks and Microsoft team up to back minorities in venture capital
GREEN BAY, Wis. (WBAY) - The Green Bay Packers, Milwaukee Bucks and Milwaukee Brewers are teaming up with Microsoft to provide more opportunities to minority-run startups through a venture capital fund.
The Equity League is described as “a new impact investment division of venture capital fund TitletownTech.” The idea is to foster positive social change and create more opportunities for Black and LatinX startups.
The Equity League will prioritize Black and LatinX founders and hire minorities as venture fellows.
Only one percent of venture capital-backed startup founders are Black. Less than two percent are LatinX.
“A founding principle of the Equity League is that while genius is equally distributed regardless of race, gender, or zip code, opportunity is not,” reads a statement from TitletownTech.
Packers President and CEO Mark Murphy came up with the idea for the Equity League and other team leaders joined. TitletownTech is located across from Lambeau Field.
“The shared values between the Packers, Bucks, Brewers, Microsoft and TitletownTech is what made this possible. It’s time for us to step up and I’m proud we are taking a bigger role to focus on driving meaningful change and bridging a significant gap for social impact companies and minority founders,” said Murphy.
Israel Squires was named Director of the Equity League. The LatinX tech CEO has raised millions in venture capital funding.
“We’re attacking a multi-faceted, generational problem with a multi-faceted, generational solution,” says Squires. “Our goal is to invest in companies and founders that have strong potential to produce both significant financial returns and large-scale social impact. Our strategy to achieve this is one that challenges the status quo and we’re excited to show how the venture capital and startup space can be used to facilitate long-term, positive change.”
LEARN MORE: https://www.theequityleague.com/
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