The natural hair movement in Black haircare is exploding, and Black-owned, community-focused natural hair care company Mielle Organics has been at the center of it since launching in 2014. This week, the brand announced that Boston-based firm Berkshire Partners has made a significant investment in the company that will help finance its future growth plans and continue the brand’s mission to “educate, empower, and excite Mielle’s customers and the broader hair care community,” a press release shares. “We are honored to invest behind Monique and Melvin and in Mielle,” Berkshire Partners Managing Director, Marni Payne said in a statement. “Mielle is an extraordinary business, but importantly has a larger purpose: to excite, empower and serve the community. Monique and Melvin have built this business from the ground up; we share their vision and are excited to support them as they continue their journey of growth and community.” According to a press release, the new investment will also...

It costs an average of $30,000 to start a business. For a lot of entrepreneurs, much of that funding is scraped together through a combination of savings, family members, and friends, according to a report published by Village Capital. But, if an aspiring founder doesn’t have a wealthy network of family and friends, is building a successful business limited to those with the access to such capital? Entrepreneurs of color often don’t have access to the network that helps most founders raise startup funding and get early stage investments. A recent report from the Institute for Policy Studies showed that between 1983 and 2013, the median black family wealth decreased 75 percent, while the wealth for the median white household increased by 14 percent. Village Capital—a startup accelerator—noticed the wealth gap for black and brown founders created VC Pathways, a national initiative providing resources to Black, Latinx, and female entrepreneurs of high-growth companies helping them...