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A dime to a dollar. That’s the gap between the median net worth of an Black American family ($17,000) and a white American family ($170,000). 1 in 5 Black families have zero or negative net worth–twice the rate of white families. Today in America, Black entrepreneurs access less than 2% of venture capital. Commonwealth is privileged to operate the Minority Entrepreneurship Institute (MEI) on behalf of NFL Pro Bowl linebacker Jaylon Smith to help close the wealth gap in America by accelerating high-growth entrepreneurship and impact investing.
Commonwealth is launching MEI Capital Fund I to invest in promising, high-growth minority founders. MEI Capital Fund I is targeted to be a $25 million fund and will launch in Q4-2023.
Jaylon Smith is a Pro Bowl linebacker and active investor in the private markets. He founded MEI Capital as his purpose beyond athletics—to close the wealth gap in America by investing in minority entrepreneurs.
In July 2021, MEI and Commonwealth hosted the third annual MEI Pitch Competition and Showcase, in which five amazing Florida-based entrepreneurs pitched their companies to a panel of judges for a change at $350,000 of investment capital.
In November 2021, the Minority Entrepreneurship Institute held the Indiana Investor Forum. Hosted by High Alpha Venture Studio, the forum convened investors and community leaders focused on closing Indiana’s wealth gap through entrepreneurship and impact investing.
On July 10, 2020, Commonwealth co-hosted the MEI Texas Showcase featuring: $600,000 in impact investing capital, 147 minority entrepreneurs competing from 42 Texas cities, and 30+ companies qualifying for the MEI Texas Marketplace totaling over $13 million in deal flow.
On July 12, 2019 MEI and Commonwealth held a pitch competition in Fort Wayne, showcasing some of Indiana’s brightest minority entrepreneurs. The event featured $195,000 in investment capital and 4 sharks, including Jaylon Smith, Mark Music, Jane DeHaven, and Gary Brackett.
Watch our investment partner Jada Mclean talk about her business HurryHome at the Techstars Chicago Demo Day 2018
Read about how LoanWell’s fintech platform has been one of leading forces assisting North Carolina’s small business recovery from the coronavirus shutdown
Commonwealth’s think tank partner, Sagamore Institute, produces research and consulting services to advance innovative ideas, strengthen social enterprise and create leading measures to evaluate social impact.
Innopower is an Indianapolis-based organization that accelerates economic development and wealth generation in Black communities in the USA and Nigeria.
Oscar Charleston is perhaps baseball's greatest forgotten player. Sagamore is helping to produce a documentary about this dynamic Negro league player.
Portfolio company World Shoe is a social enterprise that designs and manufactures prophylactic and bio-degradable footwear to prevent disease.
Commonwealth harnesses entrepreneurial talent to create more opportunities for everyone to flourish.
This website is for informational purposes only. You should not construe any information or other material as legal, tax, investment, financial, or other advice. Nothing contained in these materials constitutes a solicitation, recommendation, endorsement, or offer.
