The Money Maker Fund is designed for students who have an active business and are in good academic standing.
Rapper 2 Chainz is investing in the entrepreneurial dreams of HBCU students. According to Revolt the music artist—whose real name is Tauheed Epps—recently created a fund to provide financial support for students at historically Black colleges and universities who have launched businesses.
The initiative, dubbed the Money Maker Fund, was designed for students who have an active business and are in good academic standing at an accredited HBCU. The effort was inspired by his song “Money Maker” which is an ode to historically Black collegiate institutions. Students must submit a presentation deck that encompasses an executive summary, company description and a solid marketing and sales plan by November 6.
“If you are an HBCU student and you currently have a business that’s up and running, I created the Money Maker Fund,” Epps said in a video posted on Twitter. “I would like to invest into your business, your idea.” Epps attended Alabama State University on a scholarship and has a deep appreciation for the cultural significance of the HBCUs.
Many efforts are being led to support the entrepreneurial endeavors of HBCU students and to address the lack of accessibility to venture capital that Black founders often face. NTX Inno reported Capital One is teaming up with the Dallas-based venture capital firm Impact Ventures and Paul Quinn College for a $200 million initiative created to support underrepresented entrepreneurs. “With the generous support of Capital One and its commitment to racial justice, we are able to provide sustainability and growth opportunities to Black and minority-owned startups and small businesses who have been hit the hardest by our current crisis,” Impact Ventures founder and CEO Benjamin Vann said in a statement. “We are able to take intentional steps toward creating a more equitable and diverse economy where access, opportunity, and prosperity is shared for all.”