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January 13, 2021 | Tom Ballard

Charlotte business executives step-up with new fund to support Black and Hispanic businesses

Here’s a great example of how corporate executives can bring their years of expertise to helping address the issue of inclusion and participation, one of the gaps identified in the recent Techstars assessment of the Knoxville region’s innovation and entrepreneurial ecosystem.

Bright Hope Capital LLC is a new investment firm created to establish and bolster Black and Hispanic-owned businesses in the Charlotte region, and its primary investors include some big names in the community. They are Malcomb Coley, Managing Partner of EY’s Charlotte office; former Bank of America Chief Executive Officer Hugh McColl; and Lloyd Yates, a former Executive Vice President at Duke Energy.

According to this article from Qcitymetro, Bright Hope Capital will invest in local companies through “acquisitions, capital investments or purchasing a majority-owned business and making it a minority-owned business,” according to Coley.

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