Apple, the renowned tech giant, announced on Wednesday its plan to expand its commitment to minority-owned businesses by investing an additional $25 million in three funds.
This move reflects the company’s determination to address the persistent underrepresentation of these communities in the technology sector.
The beneficiaries of Apple’s increased investment are Collab Capital, Harlem Capital, and VamosVentures.
By allocating funds to these organizations, Apple aims to strengthen its venture capital support for diverse businesses, bringing the total investment to an impressive $50 million.
This announcement comes more than two years after Apple’s initial venture into venture capital funding specifically tailored to support entrepreneurs of color.
The company has since remained steadfast in its dedication to uplifting marginalized communities within the industry.
In the wake of George Floyd‘s tragic murder in 2020, corporate entities across various sectors of the American business landscape have made commitments to take more decisive action in advancing racial equity initiatives.
Apple’s latest investment serves as a testament to the widespread recognition that meaningful change is necessary to combat systemic racism and underscores the company’s active role in promoting a more inclusive and equitable future.
Photo credit: Wikipedia.
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