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This $250 million growth fund will divert half its profits to historically Black colleges and universities There’s been a lot of talk about racial equality in the year since George Floyd was murdered in Minneapolis, but achieving it is far easier said than done given the current state of affairs. Consider: According to the U.S. Government Accountability Office, historically Black colleges and universities have $15,000 on average in endowment per student, while comparable non-HBCUs have $410,000 on average in endowment per student. That matters, a lot. While higher learning institutions are almost universally focused on diversifying their student base, HBCUs are largely responsible for the nation’s Black middle class, and the larger the endowment, the stronger the school and its ability to support its educators, researchers and, in the case of public HBCUs, its public service mission. Venture capitalist Jamison Hill says that his own father, who attended North Carolina A&T State

United statesLuci fonsecaJamison hillGeorge floydCarolinaat state university in greensboroAdvancement initiativeUs government accountability officeFloridaam university in tallahasseeHoward universityAccountability officeNorth carolinaBain capital venturesLaura weidman powersBlack economic mobilitySalesforce venturesBay area