The NAACP, in collaboration with Kapor Capital, the Kapor Center, and nine venture fund managers, has announced the creation of NAACP Capital, a $200 million “fund of funds” aimed at addressing racial equity gaps through strategic investments.
The initiative seeks to provide capital and support to fund managers and startups working within sectors such as education, healthcare, and finance, with a strong emphasis on uplifting historically underserved communities.
In a statement, Derrick Johnson, President and CEO of the NAACP, highlighted the organization’s commitment to fostering inclusivity and innovation. “As an ever-evolving legacy organization, the NAACP knows that innovation is borne out of inclusivity,” he said. “Investment is the backbone of impact, and impact investing will shape socioeconomics for generations to come. It’s time to invest in fund managers who share a forward-looking vision that ensures the economy works for everybody, not just a select few.”
This initiative goes beyond providing financial backing. It aims to dismantle systemic barriers that have historically excluded communities of color from accessing opportunities in the tech industry and beyond.
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Jay Lundy, managing director of NAACP Capital, expressed enthusiasm about the fund’s potential to bring technology and innovation into marginalized communities.
“The NAACP and community engagement have long played a role in my family, which makes me even more excited to lead this pivotal effort,” Lundy said. “Through this fund, we have an opportunity to invest in and capitalize the next generation of managers and founders. Our strategy targets the intersection of generational impact and tech innovation, allowing us to drive impact at scale while generating competitive returns.”
NAACP Capital represents a bold step in addressing systemic inequities by investing in fund managers and founders who share a vision for a more inclusive economy. By focusing on sectors critical to community development, the initiative is poised to create sustainable growth while empowering diverse innovators to thrive in the global economy.
As the fund takes shape, its holistic approach to blending financial returns with meaningful impact sets a precedent for future investments aimed at bridging racial and economic gaps.
