Apple will empower entrepreneurs through a new funding partnership with Harlem Capital

by Mohit

Recently, Apple has announced new projects as part of its $100 million Racial Equity and Justice Initiative (REGI), which helps to eliminate systemic barriers to opportunities and combat injustices faced by communities of color.

The Apple Developer Academy, which supports coding and technical education for students in Detroit. And, the Venture capital funding for black and brown entrepreneurs.

Together, Apple’s REJI commitment is to expand opportunities for color communities across the country and create the next generation of diverse leaders.

Along with this, to address the systematic barriers to access and funding faced by Black & Brown Founders, Apple also announced two new investments in the Venture Capital and banking space, both designed to provide capital to minority-owned businesses.

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Over the next 20 years, the company will invest $10 million with New York-based Harvey Capital – a New York-based investment capital firm to support investments in 1,000 companies with diverse entrepreneurs.

In addition to providing capital to color entrepreneurs, Harlem Capital also lends its expertise to Apple’s broader efforts to gain financial opportunities. The company provides guidance and direction to students at the Detroit Developer Academy and to participants in Apple’s Entrepreneurship Camp for Black Founders and Developers.

Apple also supports Harlem Capital’s internship program that focuses on opening the door to women and minority investors.

The company will invest $25 million in Seabert Williams Shank’s Clear Vision Impact Fund, which focuses on small and medium-sized businesses and minority-owned companies. The fund seeks to support businesses that operate or operate in low-cost markets and promote comprehensive growth programs.

(Via)

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