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

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

Our ongoing support

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Capital access & banking services

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Development programs & opportunities

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Research, insights & resources

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Community & networking

BofA VC Summit 2023 – Coming Soon!

Additional stories and press releases

Bank of America building

BofA surpasses $500 million in equity investments to support minority and women entrepreneurs

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