JPMorgan Chase just released a new video, created in partnership with Axios, highlighting the successes of its Entrepreneurs of Color Fund, of which ICA Fund Good Jobs is a part. The new video – available on YouTube and Facebook – highlights two small businesses: The Clothing Coach founded by Magdy Kotb and ICA investment company Red Bay Coffee, founded by Keba Konte.
The Entrepreneurs of Color Fund (EOCF) was first launched by JPMorgan Chase and the WK Kellogg Foundation in Detroit with the mission of building a continuum of capital and technical support for small businesses run by entrepreneurs of color. ICA joined the initiative when it was launched in San Francisco. The collaborative nature of the initiative has allowed us to join forces with two of our great Bay Area partners: EOCF lead, Working Solutions, and Pacific Community Ventures. Together we are proud to provide local businesses with fair and affordable capital from $5,000 to and above to support them from start-up to scale-up.
The EOCF initiative is particularly important because it allows us to expand on two key priorities outlined by CEO, Allison Kelly: 1. building our capacity to make more equity investments, and 2. working to close the racial wealth gap through investments and technical assistance. We see both as critical components of our commitment to building a new model of small business support and investment.
We are grateful that have been able to partner with JPMorgan Chase’s EOCF initiative and appreciate JPMorgan’s continued support. We believe that the EOCF is a great step on the way to making money move faster and more fairly.
Watch the video below: