What's New In Investments, Funds? - JP Morgan Chase

Editorial Staff

20 July 2018

JP Morgan Chase
Building on the Entrepreneurs of Color Fund in Detroit, JPMorgan Chase is expanding of the fund's model to support minority entrepreneurs in Chicago's South and West Sides.

This investment includes $4 million from JPMorgan Chase to provide minority entrepreneurs with access to capital, education and other resources.

Fifth Third Bank will invest $2.5 million in the Entrepreneurs of Color Fund, pending regulatory approval, bringing total funding to $6.5 million in support of minority entrepreneurs in these Chicago neighborhoods.

As part of JPMorgan Chase's $40 million investment in creating economic opportunity in Chicago's South and West sides, the firm will invest $4 million in two initiatives with the goal of helping local minority-owned small businesses share in Chicago's growth:

- Entrepreneurs of Color Fund: JPMorgan Chase will invest $3 million to launch the Entrepreneurs of Color Fund with community partners Accion Chicago and Local Initiatives Support Corporation .
- Ascend 2020: JPMorgan Chase will invest $1 million to continue business mentoring programs at the University of Chicago and Northwestern University, part of Ascend 2020, a national network university-led programs for minority entrepreneurs.