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Following the racial justice movement last year, there was an uptick in venture capital deals for minority women founders, but has that support been sustained? This New Jersey-based nonprofit has the facts to show that it hasn’t. Founded in 2012, digitalundivided is a nonprofit organization that offers community and resources to Black and Latinx women entrepreneurs. The nonprofit recently released the first update on its ProjectDiane report, a demographic study that details Black and Latinx women founders and the startups they lead. The nonprofit began working on its biennial ProjectDiane report in 2016, with the most recent report publishing last year. The ProjectDiane 2021 Update assesses data from the fourth quarter of 2020 and the first quarter of 2021. Digitalundivided debuted the most recent findings at its undivided We Rise virtual summit last month. “Studies show that Covid-19 alone has sped up digital transformation by 5.3 years,” digitalundivided CEO Lauren Maillian said...
TD Bank is rolling out a new initiative to further support Black and brown business owners in America. Today, the national bank announced the establishment of its new $100 million equity fund to provide financial resources to small minority-owned businesses. This comes as part of its continued commitment to address racial inequities and support underserved communities of color. TD Bank’s equity fund allows Specialized Small Business Investment Companies (SSBICs) — which provide financial assistance to disadvantaged or minority-owned businesses — and Community Development Financial Institutions (CDFIs) — known for helping Black and Latinx-owned businesses secure financing — to offer up small business loans and technical assistance to ensure that these businesses have the tools they need to scale effectively. “We hope that our investment in these SSBICs and CDFIs serves as a means of making access to capital more equitable for minority small business owners. But our support doesn’t...