Goldman Sachs to Invest in Black and Latinx Entrepreneurs Through $500M Initiative
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Goldman Sachs (GS) is putting their money where diversity is.
Through Launch With GS, the investment banking giant’s $500 million investment initiative, the firm has announced its first Black and Latinx Entrepreneur Cohort in a press release. GS will offer a select group of startup founders, CEOs, and innovators the opportunity to be a part of their first entrepreneur cohort.
Goldman Sachs firmly believes that diverse teams outperform less inclusively led companies. As a result, recipients will participate in a customized, eight-week experience that gives future-thinking minds intimate access to business development services, industry specialists, legal resources, and ultimately, the sprawling, influential network within the walls of Goldman Sachs.
Launch With GS aims to increase access to capital and facilitate connections for women, Black, Latinx, and other diverse entrepreneurs and investors.
“Black and Latinx founders collectively receive less than 1% of venture funding,” said Jemma Wolfe, head of Launch With GS, in a press release. “We believe that by engaging early with Black and Latinx entrepreneurs, we lay a foundation to support, scale, and invest in an important group of fast-growing start-ups.”
Following the eight-week program, cohort members will be able to showcase their businesses at an investor showcase in front of an invite-only audience.
To be eligible to apply, entrepreneurs must own and operate a U.S.-based tech company in fintech, enterprise software, consumer, or healthcare. Other requirements are specified here.
Interested parties can apply now. Applications close on April 17, 2020.