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How Synchrony aims to diversify venture capital with $15M investment
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Synchrony, the country’s largest private-label credit card provider, is headquartered at 777 Long Ridge Road in Stamford, Conn. The company has committed $15 million to support Black, Latinx and women-led venture capital firms.Alexander Soule / Hearst Connecticut Media
STAMFORD A year ago, in the wake of the murder of George Floyd and ensuing nationwide protests, the country’s largest private-label credit card provider pledged to ramp up its diversity, equity and inclusion efforts.
Today, it continues to launch initiatives to support that commitment.
Stamford-based Synchrony is allocating $15 million to several venture capital funds led by Black, Latinx and female partners. The consumer financial-services giant said that the funding reflects its support of minority and women entrepreneurs and underrepresented communities, while the firms it is supporting praised the company for backin