Bay Mills Investment Group in Partnership with NACO Announces Black Presidents Club | Business
TORONTO – (BUSINESS WIRE) – Jul 20, 2021–
Today, the National Angel Capital Organization (NACO) and the Bay Mills Investment Group are pleased to announce a new partnership to create the Black Presidents Club, a first of its kind in the investment community. This group of business leaders will be tasked with investing, guiding and advocating for young black entrepreneurs and creating the next generation of black presidents, CEOs and senior leaders.
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Sheldon James, CEO of Bay Mills Investment Group in conversation with Claudio Rojas, CEO of the National Angel Capital Organization. (Photo: Business Wire)
Leveraging the networks and expertise of both organizations, this new group will work to address the inequalities black entrepreneurs face by providing them with essential resources to grow their businesses in communities across southern Ontario and across. in Canada.
âThe disproportionate effects of this pandemic on black communities cannot be ignored. As we look to the economic recovery, now is the time for business leaders and investors to make a significant effort to support black entrepreneurs, âsaid Sheldon James, CEO of Bay Mills Investment Group. âThe actions we take today can have an incredible impact for generations to come. “
Recent reports show that black-owned startups receive less than 1% of venture capital funding. Without this support, many start-ups will continue to face barriers to growth and their potential economic and social impact will go unnoticed. A recent study commissioned by the African-Canadian Senate Group and Senator Colin Deacon found that black entrepreneurs face significant obstacles to success. 76% of survey respondents said their race makes it harder to be successful as an entrepreneur and accessing capital was rated as the number one challenge by a wide margin.
Early stage investors provide much more than capital, often mentoring entrepreneurs and giving them access to their own professional networks to move the business forward. Without access to these supports at critical early stages of development, many businesses will fail to grow.
âThis new partnership will raise seed capital for black-led businesses and help spark the next generation of great Canadian success stories,â said Claudio Rojas, CEO of the National Angel Capital Organization. âEntrepreneurship stimulates economic development by introducing new innovations and creating jobs and wealth in local communities. Funding black entrepreneurs is a powerful way to bring about widespread change and create inclusive prosperity. “
For more information, please visit www.blackpresidents.ca.
Members of the National Angel Capital Organization (NACO) have invested more than $ 1 billion in more than 1,500 Canadian companies. Established in 1998, NACO pioneered the âaccess to capitalâ movement and led the formation of angel organizations in Canada. As the only national platform for angel investors and innovation hubs that support Canadian entrepreneurs, its national network includes 4,200 angel investors, 45 incubators and accelerators, and 44 angel investor groups. www.builtbyangels.com
About Bay Mills Investment Group
The Bay Mills Investment Group supports and mentors Black, Indigenous and People of Color (BIPOC) youth to build profitable businesses, helping them deliver real and lasting returns to their shareholders. By providing equitable access to growth capital and other resources, we will help bridge the gap between under-represented founders and sustainable business opportunities, because leadership diversity matters. https://bmiginc.com
Available for interviews:
Claudio Rojas, CEO of National Angel Capital Organization
Sheldon James, CEO of Bay Mills Investment Group
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KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: OTHER CONSUMERS TECHNOLOGY FINANCE BANKING OTHER TECHNOLOGIES PROFESSIONAL SERVICES PHILANTHROPY SMALL BUSINESS CONSUMER OTHER PHILANTHROPY
SOURCE: National Angel Capital Organization and Bay Mills Investment Group
Copyright Business Wire 2021.
PUB: 07/20/2021 7:45 a.m. / DISC: 07/20/2021 7:47 a.m.
Copyright Business Wire 2021.