Group of diverse business people sitting next to each other

Investing in minority- and women-led funds

Bank of America invests equity in minority- and women-led funds which, in turn, invest in diverse entrepreneurs to grow their businesses and drive economic opportunity in their communities.

Our mission

Three circles of different blues outlining our mission

Our mission


Invest equity in minority- and women-led funds


Help diverse entrepreneurs drive economic opportunity


Support and strengthen our communities

Major milestones

As of June 2023, Bank of America has committed more than $500 million in equity investments to minority- and women-led funds, more than doubling its initial $200 million commitment.

Horizontal timeline from September 2020 to June 2023

Major Milestones


September 2020 

Allocated $200M to equity investments in funds with diverse managers


January 2021

Committed $150M to 40 funds


May 2021

Committed $250M to 90 funds


December 2022

Committed over $400M to 130 funds


June 2023

Committed over $500M to 150 funds to date

Bank of America’s fund investments

$500M+ Commitments

Activating diverse fund managers. 

150+ Funds

Empowering diverse fund managers to support diverse entrepreneurs.

Fund demographics

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Fund demographics


66% Black and African American led


62% Women-led


21% Hispanic-Latino led

Downstream impact to date

$7B of Capital

Estimated to be deployed to diverse entrepreneurs.

1,500+ Diverse Entrepreneurs

Leading 1,000+ companies that create jobs and build wealth.

21,000+ Employees

Strengthening their local communities and driving economic impact.

Our portfolio of funds

Explore the interactive map and filters below to meet our portfolio of funds who invest in entrepreneurs across the country and fuel economic growth in our communities.

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94 Result(s)
The 22 Fund Logo

The 22 Fund

The 22 Fund is an impact investor that funds tech-based, US climate tech manufacturing companies to increase exports and create clean, quality jobs in underserved, low and moderate-income communities. We invest in women and BIPOC-led firms to deliver high ROI and social/economic impact.
1863 Ventures Logo

1863 Ventures

The 1863 Venture Fund I believes that by providing appropriately aligned capital to New Majority entrepreneurs, we can support individual, enterprise, and community wealth creation. The Fund leverages funding and active engagement to drive revenue and job creation.
2045 Ventures Logo

2045 Ventures

2045 Ventures invests in preseed and seed stage startups led by immigrant, female, or underrepresented founders.
Generalist: we focus on early-stage Climate-tech, Health-tech, and Fin-tech.
Act One Ventures Logo

Act One Ventures

Act One is a VC with a track record of success that backs companies with demonstrated founder-market fit (expertise in industry and relevant software solutions). Act One was founded in 2016 by Michael Silton and Alejandro Guerrero, and 70% of the Fund’s portfolio was founded by women and people of color.
AIN Ventures Logo

AIN Ventures

AIN Ventures is a pre-seed and seed stage venture fund that invests in 1) the intersection of dual-use and deep technology startups, and 2) U.S. military veteran-led startups across all sectors.
Ansa Capital Logo

Ansa Capital

Ansa is a thesis-driven investment firm that partners with companies at Series A and Series B — helping them navigate early growth and product-market fit.
Aperture Venture Capital Logo

Aperture Venture Capital

Aperture Venture Capital is a seed stage venture firm that invests in startups leveraging financial innovation to help people and businesses thrive. Backed by global powerhouse partners we’re building one of the most impactful portfolios in venture capital.
The Artemis Female Fund Logo

The Artemis Female Fund

Artemis is a venture capital fund on a mission to diversify and modernize wealth by investing in the iconic female founders of the century. We lead seed rounds for bold female tech innovators in fintech, e-commerce enablement, and care-tech.
Augment Ventures Logo

Augment Ventures

Augment Ventures invests in exceptional teams that are transforming traditional industries.
Authentic Ventures Logo

Authentic Ventures

Authentic Ventures is an early-stage venture capital firm that invests in Pre-Seed through Series B companies founded by diverse teams. The firm invests in B2B software with a focus on AI and Machine Learning, Vertically focused Software, FinTech, and selective Consumer subscription companies.
Backstage Capital Logo

Backstage Capital

Backstage Capital is a venture capital fund that invests in early-stage companies led by women, people of color and/or LGBTQ+ founders.
BBG Ventures Logo

BBG Ventures

BBGV is an early-stage fund backing female and diverse founders solving the needs of consumers, workers and employers. BBGV invests in innovation across big categories driving a polycultural America: Health and Wellbeing; Future of Work and Education; FinTech; Climate; and solutions for Overlooked Consumers.
Benchstrength Logo


Benchstrength is an early stage venture capital firm focused on investing in technology companies that transform business and uplift communities. Based in NYC, Benchstrength invests in software and technology-enabled businesses across enterprise, consumer, fintech, and healthcare.
Beta Boom Logo

Beta Boom

Beta Boom invests in pre-seed and seed software startups building the future for women and multicultural consumers with an emphasis on FinTech, HealthTech, EdTech, and Future or Work.
The BFM Fund (Black Founders Matter) Logo

The BFM Fund (Black Founders Matter)

The BFM Fund is a seed-stage venture fund that prioritizes Black and innovative founders who create impactful ventures and business models. We invest in companies within the United States and are industry-agnostic with B2B and B2C companies in our portfolio.
Black and Latino Angel Investment Fund of New Jersey Logo

Black and Latino Angel Investment Fund of New Jersey

We provide seed stage funding for exceptional Black and Latinx entrepreneurs (primarily based in NY/NJ) with technology or tech-enabled businesses. Our 7 cross-industry investments have contributed to $5M in additional funding and the creation of nearly 100 jobs.
Black Operator Ventures Logo

Black Operator Ventures

Black Operator Ventures is a seed stage fund created by Black founders, for Black founders. We are industry and sector agnostic. We invest our capital (up to $1.3M), time, and resources into resilient, coachable, experienced Black founders.
Black Tech Nation Ventures Logo

Black Tech Nation Ventures is a seed venture investor in high-impact software companies in edtech, fintech, healthtech, climate change, and culture-based markets. All our founders are diverse (75% Black, 75% Women). We lead/co-lead seed rounds of about $2m-$3m at valuations in the $5m-$15m range.
Boyd Street Ventures Fund I Logo

Boyd Street Ventures Fund I

One of the country’s few minority-owned venture capital firms, Boyd Street was created to support the economic growth of the State of Oklahoma while generating above average returns for investors by funding and providing de-risking guidance to Oklahoma-affiliated startups.
Bright Hope Capital Logo

Bright Hope Capital

Bright Hope Capital LLC invests in local Black and Hispanic-owned companies through acquisitions, capital investments, or purchasing a majority-owned business and creating it a minority-owned business in the Carolinas.
Bright Ventures Fund I Logo

Bright Ventures Fund I

Bright Ventures Fund I invests up to $1M each in Pre Seed and Seed-stage ventures in fin-tech, digital health and future of work. Our expertise is Inclusive Innovation: identifying and scaling ventures that have inclusion as a market-winning competitive advantage.
Brown Venture Group Logo

Brown Venture Group

Brown Venture Group, LLC is a venture capital firm exclusively for Black, Latinx, and Indigenous technology startups. Our target audience is Black , Latinx, and Indigenous tech inventors looking to found startups in emerging technologies.
Buoyant Ventures Logo

Buoyant Ventures

Buoyant Ventures invests in early stage digital climate solution companies.
Cake Ventures Logo

Cake Ventures

Cake Ventures is a pre-seed and seed venture capital firm investing in companies with global ambitions that are creating technology that meets the needs of tomorrow’s internet users.
Capitalize VC Logo

Capitalize VC

Capitalize is shifting the venture capital paradigm. The fund invests in Black and Latinx founders at the pre-seed and seed stage and seeks to generate outsized returns for LPs by investing at the intersection of e-commerce technology and consumer brands.
CEI Ventures Logo

CEI Ventures

We invest in growth-oriented businesses that create good jobs for people living in rural towns and smaller cities across the Northeast. We prioritize businesses that pay all employees a living wage, provide benefits and offer opportunities for training and advancement.
Chingona Ventures Logo

Chingona Ventures

Chingona Ventures is an early-stage fund focused on investing in overlooked founders, businesses, and industries at the Pre-seed and Seed stages. We are industry agnostic but like to invest in financial, future of work, food, education, and health/wellness technology.
Chloe Capital Fund I LP Logo

Chloe Capital Fund I LP

Chloe Capital is a movement driven VC investing with a gender and diversity lens. We focus on tech leaders solving the biggest problems in climate, education and health. Our superpower is our ecosystem building model which transforms founders into funders through our accelerator programs and courses.
Cleveland Avenue State Treasurer Urban Success Fund (CAST US) Logo

Cleveland Avenue State Treasurer Urban Success Fund (CAST US)

A $70M initiative that will bridge the capital and resource gap impacting Black, Latinx, and women entrepreneurs in Chicago’s South and West Side neighborhoods.
Collide Capital Logo

Collide Capital

Collide Capital is a Black-owned firm ushering in a new era of VC where opportunities go to the most deserving, not the most privileged. Collide Capital equips founders with resources, knowledge networks, and hands-on operational support for a successful exit.
Concrete Rose Capital Logo

Concrete Rose Capital

Concrete Rose invests financial and social capital into exceptional ventures led by underrepresented founders of color, founders addressing the needs of underrepresented consumers of color, and founders with a demonstrated commitment to creating inclusive cultures and building diverse teams.
Converge Fund II, LP Logo

Converge Fund II, LP

Converge invests primarily in early-stage disruptive B2B information technology startups contributing to the AI-powered transformation of the economy.
Coyote Ventures Logo

Coyote Ventures

Coyote Ventures invests in startups innovating in women’s health and wellness.
Divergent Capital Logo

Divergent Capital

Divergent Capital leads preseed rounds with conviction and builds a concentrated portfolio of companies using tech and science innovations to solve real world problems across manufacturing and industrial, life science and healthcare, consumer, and next-gen services.
E2JDJ Logo


E²JDJ is an early stage VC fund that invests in AgriFood technology driven companies that are moving the needle on human and planetary health.
Elevate Capital Logo

Elevate Capital

Elevate Capital’s mission is to help close the wealth gap by catalyzing generational wealth creation for underserved entrepreneurs. To achieve our mission, Elevate provides access to seed capital, mentorship, and connections into networks that allow our portfolio companies to scale.
The Equity Alliance Logo

The Equity Alliance

The Equity Alliance invests in exceptional venture capital fund managers and startup founders who are people of color and women.
Exceptional Capital Logo

Exceptional Capital

We are immeasurably passionate about the founders we back and helping them build the companies they create.
Exposition Ventures Logo

Exposition Ventures

Exposition Ventures invests in Seed through Series B hardware and software companies that are transforming the industrial value chain through the application of frontier technologies. Investment themes include advanced manufacturing, sustainable supply chain, logistics, future of work, AI/ML, cybersecurity, and enterprise software.
f7 Ventures Logo

f7 Ventures

f7 Ventures is a pre-seed / seed fund led by seasoned operators Joanna Lee Shevelenko and Kelly Graziadei. f7 invests in the next generation of iconic technology companies in future of work, health and communities.
Fairbridge Park Logo

Fairbridge Park

We actively seek to partner early with mission driven entrepreneurs applying commercial innovation to address the most difficult consumer problems in financial health, healthcare and environmental health.
Fearless Fund Logo

Fearless Fund

Fearless Fund is the first VC fund founded by women of color for women of color. The Fund invests in women of color founded consumer and technology companies at the Pre-Seed, Seed and Series A stages.


FVLCRUM is a Public Welfare Private Equity strategy that intentionally invests in minority-owned lower-middle-market companies to create sustainable opportunity in underserved communities while driving commercially viable returns. FVLCRUM’s core industry focus areas are business services, healthcare, and government contracting.
Glasswing Ventures Logo

Glasswing Ventures

Glasswing Ventures is a first-capital-in venture capital firm dedicated to investing in the next generation of AI and frontier technology startups that enable the rise of the intelligent enterprise.
Graham and Walker Venture Fund Logo

Graham & Walker Venture Fund

Graham & Walker is an early stage VC fund investing in women-founded tech companies that solve deeply human needs.
Grit Ventures Logo

Grit Ventures

Grit Ventures is a pre-seed investor in Deep Technology in mature and emerging hubs in the US. We source innovation from the nation’s top labs, lead rounds and focus on go-to-market strategy. We invest in industrial automation, logistics, sustainability and communications.
Harlem Capital Logo

Harlem Capital

An early stage VC fund investing in diverse founders.
HI Mark Capital Logo

HI Mark Capital

A black-veteran-managed fund based in Charleston, SC, focused on investing in businesses owned or controlled by socially and economically disadvantaged individuals (SEDI businesses) across multiple sectors. Our team of knowledgeable advisors has over one hundred years of capital funds management experience.
High Street Equity Partners Logo

High Street Equity Partners

An early-stage venture capital firm that invests in capital-efficient technology companies led by exceptional founders of color.
Human Ventures Fund Logo

Human Ventures Fund

Human Ventures invests at the earliest stages of company building, backing exceptional founders who exemplify the diversity and resilience of NYC, with a shared focus on the human needs economy and building for the future.
ID Ventures Logo

ID Ventures

ID Ventures, backed by Invest Detroit, is a prominent inclusive-focused investor in Detroit's startup scene. They support Michigan-based companies, investing in diverse sectors, nurturing the state's entrepreneurial ecosystem, and creating long-term economic growth.
Innovate Capital Growth Fund Logo

Innovate Capital Growth Fund

Innovate Capital Growth Fund is a private equity fund focused on investing growth equity in minority and women-owned, lower-middle market businesses primarily in the Mid-Atlantic region. Innovate Capital Growth Fund is focused on driving a sustainable return within a focused portfolio of “stand outs”.
January Ventures Logo

January Ventures

At January Ventures, we back the most ambitious founders, regardless of their pedigrees or networks. We provide first funding for their world changing ideas, and a network to accelerate growth. We invest in B2B software companies focused on productivity and health. 
Jumpstart Nova Logo

Jumpstart Nova

The first venture fund in America to invest exclusively in Black founded and led healthcare companies.
Kapor Capital Logo

Kapor Capital

Kapor Capital invests in early-stage tech startups that close gaps of access for low-income communities and/or communities of color. They pioneered the first VC fellows program and Founders' Commitment supporting their portfolio companies with diversity, equity, and inclusion.
KCRise Fund Logo

KCRise Fund

Founded by Darcy Howe, KCRise Fund launched in 2016 as an initiative of KCRising, a long-term vision for the greater Kansas City region to build capacity, bring existing businesses to scale, and fully realize the Kansas City region’s potential.
L'ATTITUDE Ventures Logo


L’ATTITUDE Ventures invests in early-stage US Latina/o entrepreneurs (Seed to Series A) with large and high-growth market opportunities capturable through technology.
LEAP Global Partners Logo

LEAP Global Partners

Catalyzing the next wave of global innovation by investing in underrepresented founders disrupting the status quo in fintech, commerce and SaaS.
MaC Venture Capital Logo

MaC Venture Capital

MaC Venture Capital is a seed-stage venture capital firm that invests in technology startups leveraging shifts in cultural trends and behaviors.
MASTRY Ventures Logo

MASTRY Ventures

MASTRY Ventures is an early-stage VC fund backing exceptional founders, building game-changing companies. We invest where we have experience and a unique advantage to access, win and support companies through our network of founders, CEOs, operators, VCs, influencers and athletes.
Mendoza Ventures Logo

Mendoza Ventures

Mendoza Ventures leverages investments in fintech as a catalyst for social and economic change to impact communities of color, women, and underrepresented groups.
mHUB Product Impact Fund Logo

mHUB Product Impact Fund

mHUB’s Product Impact Fund I is a $15M Venture Fund that invests in seed and early-stage physical product and hardtech startups across Climate and Energy, Smart Sustainable Manufacturing, and MedTech.
Minority Business Accelerator Fund I Logo

Minority Business Accelerator Fund I

The Minority Business Accelerator Fund I provides equity and flexible debt investments enabling entrepreneurs of color to purchase existing mainstream businesses with no identified business succession plan, as well as providing growth equity capital to help scale existing minority businesses.
New Age Capital Logo

New Age Capital

New Age Capital is a seed stage VC firm that invests in startups founded and led by Black and Latino entrepreneurs. We are sector agnostic and lead seed rounds of $1.5-$3M with an average check size of $900K targeting 10-15% ownership.
New Community Transformation Fund - Denver Logo

New Community Transformation Fund - Denver

NCTF - Denver is a venture capital fund based in Denver, Colorado that invests in early stage BIPOC+ Founders who have been overlooks and undervalued but are now seen as the new high-growth opportunity.
New Community Transformation Fund - Michigan Logo

New Community Transformation Fund - Michigan

Increase the quality and quantity of businesses owned by people of color, while providing suitable risk-adjusted returns to investors. Creating opportunities, creating jobs, creating wealth.
Newark Venture Partners Logo

Newark Venture Partners

We are thematic investors with a startup mindset.
Noemis Ventures Logo

Noemis Ventures

NOEMIS Ventures is an early-stage venture capital firm that invests in and partners with pre-seed and seed stage companies in Fintech, Marketplaces and AI/ML.
Open Venture Capital Logo

Open Venture Capital

The Health and Wellness industry is projected to reach US$ 6.75 trillion by 2030. Open Venture Capital invests in emerging health leaders prioritizing solutions and business models that enhance access and inclusivity for a healthier future.
Overlooked Ventures Logo

Overlooked Ventures

Overlooked Ventures is a pre-seed/seed-stage fund investing in tech and tech-enabled startups building for humanity, wellness, and industries lacking innovation.
Pharos Capital Partners Logo

Pharos Capital Partners

Pharos Capital Group is a physician-founded private equity firm that invests in growing middle-market healthcare companies that aim to improve patient outcomes, increase access to care and/or lower the cost of healthcare.
Plain Sight Capital Logo

Plain Sight Capital

Plain Sight Capital, an early-stage venture capital fund, invests in pre-seed to seed-stage B2B SaaS companies with at least one underrepresented founder. These companies use product-led growth strategies to scale horizontally across industries.
Prosper Birmingham Health Tech Accelerator Fund I, LP Logo

Prosper Birmingham Health Tech Accelerator Fund I, LP

The Prosper Health Tech Accelerator and Fund seeks to identify, invest in and support diverse pre-seed founders that are using technology to deliver improved outcomes for patients, clinicians and healthcare enterprises.
Red Bike Capital Logo

Red Bike Capital

Red Bike Capital is a Latino and woman-led early stage VC fund based in New York that invests in US-based SAAS, Health and Wellness, and Fintech.
Reign Ventures Logo

Reign Ventures

Reign Ventures invests in seed stage enterprise software and consumer tech startups. We focus on founders with historically limited access to early-stage capital, and we aim to enable exceptional founders in building companies that create value with financial, intellectual and social capital.
Reinventure Capital Logo

Reinventure Capital

We offer investors seeking returns with an emphasis on racial and gender equity, a multi-faceted investment opportunity: 1) inclusion of social and economic impact; 2) access to an untapped and growing network of innovative founders; and 3) leadership by a nationally recognized pioneer impact investor.
Rethink Food Logo

Rethink Food

Rethink Food backs disruptive technologies redesigning the Food System to be sustainable, nutritious, and accessible. The Fund invests in diverse entrepreneurs at the intersection of food and tech, specifically scalable businesses in data, software, automation, and biotech to Digitize the Food System.
Roble Ventures Logo

Roble Ventures

Roble Ventures is an early-stage VC fund investing $200k-$2M in entrepreneurs who are building impactful, cutting-edge human enablement technologies. Our proven playbook has helped generate over $8B in market value and helps entrepreneurs to generate value by enabling equitable human progress.
Serena Ventures Logo

Serena Ventures

The firm seeks to invest in e-commerce, fintech, health, sports and wellness, web3, edtech, enterprise, social, and climate technology sectors. We invest in companies that change the everyday lives of average people.
SoGal Ventures Logo

SoGal Ventures

SoGal leads pre-seed and seed rounds for women and diverse founders that revolutionize the future of living, working and staying healthy. We are capitalizing on the three biggest investment opportunities of our time: Underserved problems, underrepresented founders, and undercapitalized geographies.
Springbank Logo


Springbank is an early-stage venture capital firm investing in the infrastructure to serve the needs of women and working families.
SteelSky Ventures Logo

SteelSky Ventures

SteelSky Ventures is one of the largest women's health funds in the world investing in companies that improve access, care and outcomes in women's healthcare.
Sunset Ventures Logo

Sunset Ventures

Sunset Ventures is a first-check Pre-Seed fund based in Los Angeles and San Francisco that invests in founders using next generation technology to revolutionize gaming, finance, commerce, and work.
Supply Change Capital Logo

Supply Change Capital

Culture and climate -- the defining forces of our time -- are deeply impacting the future of food. Supply Change Capital invests at the earliest stages in high growth food tech businesses and culture-first brands.
Symphonic Capital Logo

Symphonic Capital

Symphonic Capital is a Pre-Seed fund with a long view. Our team is made up of founders, who have supported 100s of Pre-Seed+ founders. We’ve built a fund that caters to what we’ve learned founders need the most at the earliest stages: clear metrics for success and the capital + support to help them achieve it.
Trident American Dreams Fund I Logo

Trident American Dreams Fund I

Trident is a value-oriented private equity firm taking control positions in US-based small businesses in three core sectors: Industrials, Consumer, and Healthcare. Trident American Dreams Fund I ($250mm target) intends to build a portfolio of ~10 deals targeting market competitive returns with a 5 year investment period.
True Beauty Ventures Logo

True Beauty Ventures

TBV pursues investments of less than $5 million in beauty and wellness brands leveraging their decades of sector expertise, knowledge, and network. The partners’ extensive beauty investing and operating experience allow them to identify winning brands at an inflection point of growth and help them scale and exit successfully.
VamosVentures Logo


VamosVentures is an LA-based, early-stage VC fund that provides capital and partnership to diverse/Latinx teams solving real problems through scalable, tech-driven companies. We primarily invest in Health and Wellness, Future of Work, FinTech, and Sustainability startups.
Visible Hands VC Logo

Visible Hands VC

Visible Hands is a VC firm that provides exceptional founders from underrepresented backgrounds with the funds, hands-on support, and community they need to thrive at the earliest stages of company building.
VITALIZE Venture Capital Logo

VITALIZE Venture Capital

VITALIZE invests in WorkTech: people-first, data-driven, really big ideas that transform work today. We invest in B2B and B2B2C software companies incorporated in the US.
Western NY Impact Investment Fund Logo

Western NY Impact Investment Fund

The Western New York Impact Investment Fund is an innovative, for-profit fund that seeks to support our region’s economic resurgence. By leveraging collaboration between corporate, private, and philanthropic investors, the fund seeks to drive both commercial success and social impact.
Wilshire Lane Capital Logo

Wilshire Lane Capital

Early-stage PropTech Venture Capital Firm.
Zane Venture Fund Logo

Zane Venture Fund

Fueling Innovation Through Inclusive Investing.
Zeal Capital Partners Logo

Zeal Capital Partners

Zeal Capital Partners serves as a mission driven venture capital franchise that invests in high growth, early stage companies led by diverse management teams reimagining the building blocks of wealth that turbocharge economic mobility.
Tram Nguyen, Global Head of Strategic & Sustainable Investments at Bank of America headshot
“We want to empower the talented fund managers who keenly understand how to identify and support business owners. Each time we support a minority- or women-led fund, they in turn support diverse entrepreneurs, which ultimately helps us toward achieving our goal to advance racial equality and economic impact.”
– Tram Nguyen  |  Global Head of Strategic & Sustainable Investments at Bank of America

Additional stories and press releases

Bank of America building

BofA surpasses $500 million in equity investments to support minority and women entrepreneurs External link, opens in a new tab

Investments in diverse-led funds result in capital deployed to over 1,000 companies across the U.S.
woman smiling

Start-up capital for Black women

New Pattern Utah, a grant and mentorship program, is cultivating a largely overlooked and underfunded group of business owners - Black women.
Dr. Josh Sanabria with a puppy

Supporting small businesses

Whether you work for a small business or rely on one for the things you need, we all understand the critical role that startups and growing businesses play in our communities and our lives.
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