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Oakland Black Business Fund

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Meet the Two Entrepreneurs Who Launched a $1B Investment Fund For Black Businesses

Black Americans are faced with two pandemics — COVID-19 and racism. Due to this, a lot of businesses have been forced to close or currently face the brink of extinction. Elisse Douglass and Trevor Parham are two entrepreneurs that have decided to give back during this time by helping local business during the pandemic. In June, they established the Oakland Black Business Fund which was created to aid Black-owned businesses in the Bay Area with a goal of $10 million. Their relief efforts also include a $1 billion investment fund that will help other Black entrepreneurs nationwide survive the economic fallout from the pandemic, Crunchbase reports . The fund first started after Douglass created a community-oriented crowdfunding site for businesses that had been affected by the Black Lives Matter protests. According to Crunchbase , after bringing in $100,000 in less than a week and a half, Parham shares that they had more money than they originally set out to make. “We immediately...

Sep 3, 2020