Goldman Sachs pledges another $500 million in funding for minority-owned businesses

Goldman Sachs pledges another $500 million in funding for minority-owned businesses

News: Goldman Sachs pledges another $500 million in funding for minority-owned businesses.

(Reuters) – Goldman Sachs Group Inc announced Thursday that it had pledged an additional $ 500 million to help grow businesses owned by blacks, Latinos and women through Launch with GS. This program was started three years ago to close the gender gap.

The investment bank’s latest pledge comes barely a week after it announced it would invest $ 10 billion over a decade as part of another initiative to help black women, focusing on areas such as healthcare, job creation and Education lies.

As part of the GS launch, Goldman said it had invested more than $ 450 million out of the $ 500 million previously promised

at a number of companies including BentoBox, which offers websites for restaurants, and leasing accounting software provider LeaseQuery. bit.ly/3eTg051

The initiative, which originally allowed clients to invest directly in businesses or provide seed capital for women who set up their own funds, was later expanded to include people of color.

JPMorgan Chase & Co pledged an additional $ 350 million last month to help grow businesses owned by Black, Latino and women. This is part of a broader effort by the bank to close the racial gap in the United States.

Reporting by Niket Nishant in Bengaluru; Adaptation by Anil D’Silva

Original Source © Reuters

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