ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintTitle ChevronIcon Twitter
SoftBank

SoftBank unveils $100m fund for American entrepreneurs of color

Masayoshi Son calls for fight against racial injustice as protests sweep US

SoftBank CEO Masayoshi Son calls racism a tragedy. 

TOKYO -- Japanese tech conglomerate SoftBank Group will start a $100 million fund dedicated to companies led by founders and entrepreneurs of color, as protests over racial injustice and police brutality erupt across the U.S.

The Opportunity Growth Fund will be the largest fund providing capital to black Americans and people of color, the company said.

SoftBank Group Chairman and CEO Masayoshi Son posted on Twitter in Japanese that "racism is a tragedy," and he said the new fund will help black and Latino entrepreneurs who have been prevented from succeeding due to social injustices.

"Our focus will be on companies that use technology to disrupt traditional business models," Marcelo Claure, SoftBank Group's chief operating officer, said in a letter to employees.

Claure also said the fund "will not take a traditional management fee, but instead will seek to put as much capital as possible into the hands of founders and entrepreneurs of color."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more