(MENAFN – News Direct) Morgan Stanley press release
Northampton, MA | July 15, 2021 12:02 p.m. Eastern Daylight Time
To help close the funding gap for multicultural, women-owned businesses, 1 Morgan Stanley Investment Management and the company’s Multicultural Client Strategy Group are launching a new fund to invest in startups led by various entrepreneurs.
The Next Level Fund will invest primarily in early stage technology and technology companies that have women and / or multicultural members among their founding teams. This latest Morgan Stanley initiative highlights opportunities with under-represented business leaders, often targeting underserved markets and communities, and aims to help meet growing investor demand for impactful market solutions for address social justice, gender equality and racial equity.
The fund is part of the Private Credit and Equity strategy within the Investment Management division, which oversees more than $ 1.4 trillion in assets.2 It will also be backed by three key business partners: Hearst, Microsoft and Walmart.
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