Traders Magazine J.P. Morgan Asset Management announced the launch of Project Spark, a new initiative aimed at providing capital to funds managed by diverse, emerging alternative managers, including minority-led and women-led venture capital funds and other private funds. As part of the new initiative, the firm has committed to an initial $25 million investment in five or more funds, to be governed by a newly established investment committee comprised of diverse senior executives across J.P. Morgan Asset Management. Recent data suggests that just 9% of firms in the private equity industry are women or minority led, while just 3% of U.S. focused private equity assets are managed by minority-owned firms.