Best Buy Commits up to $10M Investment in Brown Venture Group’s Inaugural Fund
Brown Venture Group LLC, a venture capital firm formed to fund Black, Latino and Indigenous technology entrepreneurs, announced today that Best Buy (NYSE: BBY) has committed up to $10M to its inaugural fund.
Brown Venture Group, a majority Black-led organization, was founded in 2018 with the goal of raising $50 million to invest in entrepreneurs of color who in the past have not had access to venture capital and have experienced economic barriers to contribution.
The commitment by Best Buy builds on its recent announcement that it will spend at least $1.2 billion with BIPOC and diverse businesses by 2025 with a focus on leaders in the tech industry.
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