(MENAFN- News Direct) News release by Morgan Stanley
Northampton, MA | July 15, 2021 12:02 PM Eastern Daylight Time
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To help close the funding gap for multicultural and women-owned businesses,1 Morgan Stanley Investment Management and the firm's Multicultural Client Strategy Group are launching a new fund to invest in startups led by diverse entrepreneurs.
The Next Level Fund will invest primarily in early-stage technology and technology-enabled companies that have women and/or multicultural members among their founding teams. This latest move by Morgan Stanley highlights opportunities with underrepresented business leaders, often targeting underserved markets and communities, and aims to help meet growing investor demand for impactful market solutions to 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 of assets.2 It will also be backed by three key corporate partners: Hearst, Microsoft and Walmart.
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