Best Buy Commits up to $10M Investment in Brown Venture Group’s Inaugural Fund
Group’s Inaugural Fund
$50M Fund One of the Largest in the Country Dedicated to BIPOC Tech Entrepreneurs
venture capital and have experienced economic barriers to contribution.
to investing and executing with communities of Color in longer-term collaborative business relationships,” said Brown Venture Group
Co-Founder and Managing Partner, Dr. Paul Campbell. “This hometown partnership is especially meaningful and Best Buy is to be commended for its commitment to co-creating solutions that will lead to greater economic flourishing for contributors of color.”
begin to do this by helping to build a stronger, more vibrant community of diverse innovators in the tech industry, some of whom we hope will become partners of Best Buy in the future.”
A 2020 Citigroup report estimates that if racial inequity gaps were closed today, the equivalent add to the U.S. economy over the next five years could be $5 trillion of additional GDP.
in communities of color, it will also unlock previously unrealized innovative capacity in the marketplace,” said Brown Venture Group Co- Founder and Managing Partner, Dr. Chris Brooks. Brown Venture Group plans to invest in technology startups in various industries including clean energy and retail across the country as well as leverage the abundant startup talent that exists within the region and state of Minnesota.
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