OUR PURPOSE
Embracing the legacy of swift, ongoing, and collective movements set in motion by our ancestors, we are called to be the architects of progress, wielding the power of Black capital, networks, and resources with intentionality and purpose. As we gather at Project Wellspring, we are united by the shared vision to propel the needle of change even further, forging a future of empowerment and prosperity for the Black community. Let us connect, amplify, and build on the work many of us are already leading as we chart the course and pave the way for future generations.
OUR APPROACH
Take decisive action to accelerate the growth of prosperity and economic power within the Black community. Connect, build, and grow ecosystems and cohesively invest in impactful, Black-led projects that create positive change and deliver returns on investment.
WHO WE ARE
Impactful community of Black private investors, innovators, and ecosystem builders focused on generating wealth in our community and unlocking the true potential of Black ingenuity and economic power.
BLACK WEALTH NEXUS
Our mission is ambitious yet critical - to unite established business leaders, influential moguls, trailblazing tech gurus, savvy allocators, thought leaders, and passionate change-makers, with the ultimate goal of mobilizing over $1B in Black capital and shared resources to support the successful creation of wealth in our community.
AMOUNT OF TOTAL BLACK HOUSEHOLD WEALTH IN THE U.S.
$4.6T
AMOUNT OF TOTAL WHITE HOUSEHOLD WEALTH IN THE U.S.
$94T
COMPARING COMPOUND ANNUAL GROWTH RATE (CAGR)
19%
-7%
BLACK FOUNDERS
NON-BLACK FOUNDERS
THE WEALTH HELD BY ALL AFRICAN-AMERICANS IS FROM THE TOP 10%
67%
THE TIME IS NOW
INCREASE IN FIRST-TIME BLACK FUND MANAGERS IN 2022
30%
RISE IN SAVINGS AND INVESTMENTS AMONG BLACK AMERICANS
40%
FOCUS AREAS
REAL ESTATE
Investing in real estate empowers Black communities to build generational wealth, promote economic stability, and counteract historical disparities, fostering a foundation for financial prosperity and growth.
PRIVATE EQUITY
Channeling private equity investments into Black-owned businesses stimulates economic development, fuels innovation, and accelerates the growth of enterprises that are pivotal to the sustained success of our community.
VENTURE CAPITAL
Nurturing a robust venture capital ecosystem is essential for unlocking the untapped potential of Black ingenuity, supporting groundbreaking ideas, and ensuring that Black entrepreneurs have the resources needed to thrive in the competitive landscape of innovation and technology.
IMPACT
We aim to collaborate across industries, driving impact through targeted, vetted investments, and sharing resources to fuel long-term wealth creation and ownership.
FIVE PILLARS
We aim to collaborate across industries, driving impact through targeted, vetted investments, and sharing resources to fuel long-term wealth creation and ownership.
Policy
Research
Investment
Convening
Ecosystem
Building
STRATEGIC PARTNERS
We aim to collaborate across industries, driving impact through targeted, vetted investments, and sharing resources to fuel long-term wealth creation and ownership.
CATEGORY: FINANCIAL SERVICES
Morgan Stanley is dedicated to providing first-class service to our clients, in a way that reflects our commitment to creating a more sustainable future and fostering stronger communities around the world. In each line of business, we strive to demonstrate our belief in the power of transformative thinking, innovative strategies and leading-edge solutions—and in the ability of capital to work for the benefit of all society.
Pronghorn is taking a modern, disruptive approach to diversify the total industry ecosystem with the goal to generate $2.4B of industry economic value by the end of 2032. Their mission is to transform the spirits industry by systematically providing new opportunities for Black founders, entrepreneurs, and executives by fostering great participation as a hybrid accelerator and industry-wide change agent.
CATEGORY: VENTURE CAPITAL
Living Cities is a collaborative of 19 of the world’s largest foundations and financial institutions working to close racial income and wealth gaps in American cities. We use our vast network to connect with leaders across the public, private and philanthropic sectors to embed anti-racist policies and practices in institutions. Together, we work to tackle the root causes of systemic inequity in U.S. cities and undo the legacy of racism in our communities.
CATEGORY: FINANCIAL SERVICES
Morgan Stanley is dedicated to providing first-class service to our clients, in a way that reflects our commitment to creating a more sustainable future and fostering stronger communities around the world. In each line of business, we strive to demonstrate our belief in the power of transformative thinking, innovative strategies and leading-edge solutions—and in the ability of capital to work for the benefit of all society.
CATEGORY: FINANCIAL SERVICES
Morgan Stanley is dedicated to providing first-class service to our clients, in a way that reflects our commitment to creating a more sustainable future and fostering stronger communities around the world. In each line of business, we strive to demonstrate our belief in the power of transformative thinking, innovative strategies and leading-edge solutions—and in the ability of capital to work for the benefit of all society.
CATEGORY: MULTINATIONAL LAW FIRM
Latham is one of the world’s largest law firms. With more than 3,000 attorneys in 30 offices around the world, Latham practices in all the major jurisdictions in the U.S., Europe, the Middle East, and Asia, and regularly represents companies doing business in Latin America and Africa. The firm is a global leader in corporate transactions, environmental law, finance matters, litigations and trials, and tax services.
