Diverse companies don’t get enough capital. The Mezzanine Fund wants to change that
Many financial experts will note that a core reason minority- and women-owned businesses are fewer and often lag the financial success of companies managed by their white-male counterparts is simple: They don’t draw the same degree of growth capital.
Filling this void in the market is where Cleveland’s The Mezzanine Fund comes into play.
“What I want to focus on is a more intentional deployment of capital so the outcome is more beneficial for women and people of color,” said Mezzanine Fund founder and managing director Anne Richie. “There is plenty of data now on women and people of color outperforming, yet there is not enough capital funding that outperformance.”
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Story excerpt provided by Crain’s Cleveland Business.
Written by Jeremy Nobile.
Originally published March 6, 2022.
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