Northwestern Mutual has launched new initiatives that will support Black startup founders nationally and locally in its headquarters of Milwaukee.
The company’s venture capital fund, Northwestern Mutual Future Ventures, will dedicate $20m to investing in startup companies founded by Black entrepreneurs.
The investment criteria for the $20m Black founder funding allocation is aligned with Northwestern Mutual Future Ventures’ key strategic areas of focus:
- Building for consumers’ changing financial preferences
- Reimagining the client experience
- The digital health revolution
- Transformational analytics and technologies
The company will also launch the Northwestern Mutual Black Founder Accelerator powered by gener8tor, a startup accelerator. The 12-week accelerator will run up to two cohorts of five companies a year and startups must be aligned to Northwestern Mutual Future Ventures’ investment areas of focus. The first cohort will begin in early 2021.