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On March 11 investment bank Siebert Williams Shank announced the first closing of its Clear Vision Impact Fund with $110 million raised from large US corporations including Microsoft, which kicked it off with a $25 million donation after discussions with the firm’s chairman Christopher Williams. Apple, Comcast, Constellation Brands and eBay followed. It will soon start supporting and making loans to minority-owned businesses, which provide employment and training to underserved communities that face a persistent lack of capital for growth.
“I know what it’s like for a black entrepreneur to run a business where you invest your life savings and then have to keep re-investing whatever you earn if you want to keep growing and you can never take capital out because it’s so hard to find external support,” Suzanne Shank, chief executive and co-founder of Siebert Williams Shank, tells Euromoney.
She knows because that’s the story of...
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