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JumpStart Launches Fund for Minorities

Monday, August 18, 2008

Investment aims to boost development


Excerpt of story provided by Crain's Cleveland Business
Written by Chuck Soder


There's now a JumpStart specifically for minorities.

The nonprofit business development organization has formed a separate fund that will invest solely in Northeast Ohio companies that are owned or led by minorities as well as companies in distressed parts of the region.

The for-profit Emerging Market Fund has raised $1 million so far and aims to raise about $5 million over the next several months, said Darrin Redus, chief economic inclusion officer at Cleveland-based JumpStart, which finances and assists young companies...

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