GREEN BAY, Wis. (WAOW) — The Packers, Bucks and Brewers are teaming up with Microsoft to form the “Equity League.”
The organization marks the first time the three teams are partnering together for the purpose of positive social change.
According to a press release, the Equity League is an impact investment division of venture capital fund TitletownTech described as:
“…an investment network focused on building a portfolio of impact‐driven technology companies and creating more opportunities for Black and LatinX founders. Equity League has a mission of creating a long‐term, positive impact on society.”
“A founding principle of the Equity League is that while genius is equally distributed regardless of race, gender, or zip code, opportunity is not. When looking at Venture Capital‐backed startups, only 1% of founders are Black and less than 2% are LatinX. On the investment side, just 3% of the employees at Venture Capital investment funds are Black or LatinX professionals.”
The League will target inequalities that exist in the tech startup industry through the following ways: prioritizing Black and LatinX founders and hiring minority venture fellows, while also investing in sectors including, but not limited to Education, Fintech, Digital Inclusion, Health Equality, Urban Innovation and Criminal Justice Reform.
The idea for this organization began with Mark Murphy, President and CEO of the Green Bay Packers. He then shared the idea with Rick Schlesinger, President of Business Operations for the Milwaukee Brewers and Peter Feigin, President of the Milwaukee Bucks — and they were both interested in playing a role that causes better representation of diversity.
“The shared values between the Packers, Bucks, Brewers, Microsoft and TitletownTech is what made this possible. It’s time for us to step up and I’m proud we are taking a bigger role to focus on driving meaningful change and bridging a significant gap for social impact companies and minority
founders,” said Murphy.
Israel Squires, a M&A/securities lawyer and entrepreneur joins as the Director of the Equity league.
“We’re attacking a multi‐faceted, generational problem with a multi‐faceted, generational solution,” Squires said. “Our goal is to invest in companies and founders that have strong potential to produce both significant financial returns and large‐scale social impact. Our strategy to achieve this is one that challenges the status quo and we’re excited to show how the venture capital and startup space can be used to facilitate long‐term, positive change.”