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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Apple commits $25 million to minority-owned startup capital.

APPLE CEO TIM COOK PHOTO CREDIT: Brooks Kraft APPLE CEO TIM COOK PHOTO CREDIT: Brooks Kraft
APPLE CEO TIM COOK PHOTO CREDIT: Brooks Kraft APPLE CEO TIM COOK PHOTO CREDIT: Brooks Kraft

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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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