Bank of America Corp (BAC.N) on June 15 said it has committed more than $500 million in equity investments to funds led by minority and women entrepreneurs, more than doubling from its initial commitment of $200 million. The bank has committed equity to more than 150 funds, which to date have invested in over 1,000 companies that span 40 states. These companies are led by 1,500 diverse entrepreneurs and employ over 21,000 people.

Typically, these fund managers have the experience of having founded businesses before or experience investing as part of a larger fund. Now they're taking that experience and going off to start their own fund, one of the funds is Zeal Capital Partners, founded by Nasir Qadree, which provides founders with the resources they need to scale their business to the next level of growth. It is an early investor in Esusu, one of the few Black-owned unicorns.