Bridging the Racial Wealth Gap Through Impact Investing

Black families and communities in New York City have been left behind due to systemic racism and exploitative economic policies that have created a vast and persistent racial wealth gap. Hiring and wage discrimination, segregation, redlining, and myriad other policies and practices have prevented Black families and communities from building wealth and opportunity. The Financial Empowerment Fund is a social impact fund created by the Capstone team to tackle the racial wealth gap head-on while providing safe returns and a diversified portfolio to investors. The fund puts money in the hands of Black-owned and operated businesses and nonprofits in New York, within sectors most connected to the racial wealth gap: housing, financial services, and entrepreneurship. Through community-led decision making and a first-of-its-kind racial wealth gap impact metrics and measurement tool, the team seeks to remove barriers to opportunity by meeting communities where they are and unlocking the doors to funding and prosperity.