Minority and women entrepreneurs focus of General Mills investment

MINNEAPOLIS — 301 INC, a enterprise capital arm of Common Mills, Inc. is investing a mixed $15 million into Fearless Fund and Provide Change Capital. Each firms are women- and minority-owned, early-stage enterprise capital funds that search to increase monetary alternative for underrepresented entrepreneurs within the meals business.  

Fearless Fund, co-founded by Ayana Parsons and Arian Simone, invests pre-seed, seed-level or sequence A funding in women-of-color-led companies with the acknowledged mission of bridging enterprise capital funding gaps and constructing growth-aggressive firms.

“Entry to capital is without doubt one of the most distinguished hurdles to girls of colour reaching their potential as founders, regardless of having a superb monitor file in constructing profitable companies constructed on nice concepts,” stated Ms. Simone, basic associate and co-founder. “We’re thrilled to grant Common Mills funding {dollars} to girls of colour who wish to cook dinner up the subsequent revolutionary culinary model.”

Provide Change Capital is a women- and Latina-run enterprise capital agency co-founded by Noramay Cadena and Shayna Harris. The corporate’s focus is investing in companies that exist on the intersection of meals, tradition and expertise, with a main curiosity in diversifying the business taking part in area.

“Meals and meals techniques are on the coronary heart of our tradition and financial system,” stated Ms. Cadena, co-founder and managing associate. “Because the multicultural shopper inhabitants within the US grows, we’re centered on unlocking change within the enterprise ecosystem to infuse girls and folks of colour with the capital they should form our future meals panorama. We’re thrilled to have the assist of Common Mills in our community.”

In June 2021, Common Mills reorganized its company enterprise capabilities right into a “Disruptive Development” group. Since then, roughly 80% of 301 INC funding has been invested in women- and minority-led meals companies.

“We expertise firsthand the experience and fervour of the various and feminine founders inside our 301 INC portfolio, and but there’s a systemic hole for minority meals entrepreneurs in search of early-stage enterprise capital funding,” stated Doug Martin, chief model and disruptive development officer of Common Mills. “We’re excited to hitch forces with these superb companions to uncover and speed up extra founders, at earlier levels.”  Source

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