Supreme Foods Worldwide — an Atlanta-based, Black-owned company specializing in quick-food management concepts — has announced its most ambitious fundraising effort to date.
Black News is reporting that the company — which is owned by Waleed Shamsid-Deen — has launched the #SupremeFounders crowdfunding campaign, which will allow for unique investment opportunities for the public.
What that means is that the company is, first, turning to the communities they serve — or want to serve — to get their financing, as opposed to a “big-ticket” financier.
“We’ve been asked why we chose crowdfunding as our vehicle to raise these funds in lieu of partnering with venture capital or private equity, and the answer is simple – the potential and strength of this brand are a convergence of the dreams and demand of Supreme Foods Franchising loyal supporters and community,” Dean said to Black News. “So, instead of commissioning big money, we’re inviting those who support and sustain the business to join us first and who believe in our mission and what our company stands for. We believe we can continue to accelerate growth and bring more economic empowerment, together.”
Like many Black-led startups, Supreme Foods Worldwide is able to fundraise this way thanks to an Obama-era law passed in 2012.
According to FinRa (Financial Industry Regulatory Authority), the JOBS Act “established crowdfunding provisions that allow early-stage businesses to offer and sell securities. The SEC subsequently adopted Regulation Crowdfunding to implement the crowdfunding provisions of the JOBS Act.” The JOBS Act now means that anyone — not just the uber-rich — can invest in businesses they believe in.
But there’s a catch: under the JOBS Act, “regular people” have a limit on how much they invest, and that’s based on how much money they make and their net worth. The more you make, and the more you are worth, the more money you can invest.