George Ashton III, who oversees LISC's Strategic Investments department, joined a recent episode of the podcast Money + Meaning to discuss LISC's Black Economic Development Fund. The conversation delved into the growth of CDFIs and their role in economic development and how more corporations can direct their capital towards systems change that promotes racial equity.
On a recent episode of Money + Meaning, George Ashton, LISC's managing director of Strategic Investments discusses the newly launched Black Economic Development Fund. Targeting up to $250 million and initially seeded by $25 million investments from both Netflix and Costco, the Black Economic Development Fund will work to close the racial wealth gap through both a direct and indirect investment strategy: directly through investments in black-led businesses and anchor institutions, and indirectly through working with black-led financial institutions.