Siebert Williams Shank & Co. has formed the Clear Vision Impact Fund LLC, with an initial $25 million investment from Microsoft Corp., the firm said on Thursday. The fund has a target size of $250 million and will invest in small- and medium-sized businesses. It aims to maximize social impact by helping minority- and women-owned business enterprises access capital.
“We are extremely pleased to have Microsoft’s critical support in delivering the commercial and social resources necessary to strengthen underperforming communities,” said Chris Williams, SWS chairman.
“We’re pleased to continue our 10-year relationship with Siebert Williams Shank to partner together to create new opportunities and expand access to capital for minority-owned small businesses,” said Tahreem Kampton, Assistant Treasurer and CIO at Microsoft. “There is much work to do to reduce the technology gaps that exist in our ecosystem today. This is just the first step to building a more diverse and equitable playing field and we look forward to the opportunities that this investment will help create.”
The fund is also expected to leverage SWS’s national network of relationships and its visibility and reputation within the minority business community.
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The Bond Buyer
August 13, 2020