Mellody Hobson’s Ariel Alternatives Receives $1.45B In Commitments For Inaugural ‘Project Black’ Fund

According to a press release, Project Black aims to put capital toward middle-market companies that may not be minority-owned, in addition to existing businesses owned by Black and Latinos, with a range of $100 million to $1 billion in revenue. 

As a result of the Fund’s ownership, these companies will become certified minority business enterprises of scale that can serve as Tier 1 suppliers to Fortune 500 companies.

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