SoftBank launches $100M+ Opportunity Growth Fund to invest in founders of color

As we continue to see protests across the US (and elsewhere) sparked by the killing of George Floyd by police in Minnesota, SoftBank is announcing a new investment vehicle to back entrepreneurs of color, part of its contribution to trying to redress the imbalance of power as it has played out in the tech world. Today it launched the Opportunity Growth Fund, which "will only invest in companies led by founders and entrepreneurs of color," according to an internal memo from SoftBank's COO Marcelo Claure on the new fund. Claure said the fund will initially start with $100 million, meaning that there is scope for SoftBank (the primary limited partner) or other limited partners add more over time.

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