SoftBank Announces $100 Investment Fund For Minority-Owned announced Wednesday it will start a $100 million Opportunity Fund that will invest only in companies led by people of color.
SoftBank Group International CEO Marcelo Claure told CNBC’s Squawk Box Wednesday the company put the effort together in the past 24 hours after speaking to SoftBank founder Masayoshi Son.
“We spoke to Masa Son about the privilege that we see at SoftBank, being one of the largest tech investors in the world, and we needed to do something big about it,” Claure told CNBC.
SoftBank will also donate a portion of its gains to organizations that create opportunities for people of color.
SoftBank’s current management is overwhelmingly male, with the company planning to nominate its first female board director at a shareholder meeting later this month.
