SoftBank launches minorities startup fund

Thursday 4 June 2020 14:12 CET | News

Japan-based SoftBank has launched a USD 100 million fund that will invest in companies led by ‘people of colour’.

The decision comes as a respond to the protests over the death of George Floyd. The fund, named ‘Opportunity Growth Fund’ was announced on Twitter by SoftBank's CEO Masayoshi Son. It will initially start with USD 100 million, meaning that there is scope for SoftBank (or other limited partners) to add more over time, according to BBC.

SoftBank also runs the USD 100 billion Vision Fund which invests in startups around the world. Also, Bank of America said announced that it would donate USD 1 billion over the next four years to community programmes and small businesses to help address economic and racial inequality.

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Keywords: George Floyd, Softbank, startup, Japan, Opportunity Growth Fund, Twitter, Masayoshi Son, Vision Fund, Bank of America
Categories: Banking & Fintech
Countries: World
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