The last but certainly not the least on this list is the SheaMoisture $1Million Fund by popular hair care company SheaMoisture. Launched back in April, this $1 million relief fund is solely aimed at supporting enterprises owned by women of color as well as other minority businesses affected by the pandemic.
Venture firm SoGal was created to bridge the gap between women and venture capital funding and according to them, black women entrepreneurs receive less than 0.5% of venture capital funding.
The Minority Business Development Agency (MBDA) provides support for minority-owned businesses across the United States.
At the early stages of the pandemic, Verizon made a US$7.25 million investment in non-profit social enterprise platform to launch the Verizon Small Business Recovery Fund.
Bumble has partnered up with AI-powered virtual startup accelerator Hello Alice to launch the Bumble Fund Application to support and empower women entrepreneurs.
Facebook has also launched its Small Business Grants for Black-Owned Businesses.
Venture capitalists have voiced their support for Black founders since the killing of George Floyd. These investment firms–and some grantmaking institutions–are walking the walk.
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