Apple (AAPL.O) announced on Wednesday that it is increasing its support for communities that continue to be underrepresented in the technology field by investing an additional $25 million in three funds that work with minority-owned firms.
Collab Capital, Harlem Capital, and VamosVentures would be the cash recipients, bringing the total amount of venture capital support provided by the internet giant for diverse firms to $50 million.
This announcement comes more than two years after the Cupertino, California-based corporation made its first entry into venture capital investment to support people of color who are starting businesses.
After the murder of George Floyd in 2020, which triggered a global conscience over racism, companies across the spectrum in corporate America have committed to do more to support projects aimed at racial equity.
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