SoftBank Group Corp will invest US$2 million or more in 14 U.S. startups led by black founders and other underrepresented groups, the company said on Thursday, as part of its effort to fund more a more diverse array of entrepreneurs.
The investments will back the inaugural members of the Emerge accelerator program which partners with Softbank's WeWork Labs and SoftBank Investment Advisers to mentor minority-led startups.SoftBank Vision Fund Chief Executive Rajeev Misra said the company is committed to fostering diversity and breaking down some of the hurdles that minority entrepreneurs face.
The firm is donating at least US$150,000 to each of the 14 founders through the Emerge accelerator program.
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