Mastercard announces an investment and a partnership in Black-owned businesses

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.FrankCNBC talks with FearlessFund's ArianSimone about her work to bridge inequalities in venture capital. Earlier this week Mastercard announced a multimillion dollar investment in Fearless Fund.

of Fearless Fund are chief development officer Keshia Knight-Pulliam, who played Rudy Huxtable on the "Cosby Show;" CEO Arian Simone, an entrepreneur and best-selling author; and COO Ayana Parsons, a veteran consultant.

"This deal also marks a major milestone for our brand," she said. "When women of color are provided with the necessary resources and funding to launch their businesses, the sky's the limit." "There are a lot of changes happening in the VC world, with all the announcements and commitments being made by big corporations to invest in diverse fund managers, but we will have to see if all are truly executing and operationalizing based on their statements," Simone said.

"It's encouraging to know that Mastercard is aligned with our mission of economic empowerment for people of color," said Glover, chairman of Greenwood. The alliance also provides "Greenwood customers will get a best-in-class product and the tools to grow wealth," he added.

 

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FrankCNBC FearlessFund ArianSimone Get a black woman to do this job if you wanto avoid racism and sexism whining

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