Last updated on November 19th, 2020 at 01:03 pm
Northwestern Mutual is dedicating $20 million to support black entrepreneurs in Milwaukee and throughout the country, the Milwaukee-based life insurance and financial management company announced today.
The company is launching the Northwestern Mutual Black Founder Accelerator program in partnership with gener8tor, a nationally ranked Wisconsin-based startup accelerator and venture fund. The accelerator will invest in startups founded by black entrepreneurs through Northwestern Mutual Future Ventures, which is Northwestern Mutual’s venture capital arm.
“At Northwestern Mutual we’re dedicated to supporting and promoting diversity not just within our company, but within our communities and the businesses we partner with nationwide,” Northwestern Mutual chief product and innovation officer John Grogan said in a statement. “Allocating $20 million is only the beginning – we will continue to invest in and provide opportunities for Black founders and are committed to providing access to capital and resources to help them grow their businesses.”
The new accelerator program will focus on the same investment areas as Northwestern Mutual Future Ventures, which include “building for consumers’ changing financial preferences, reimagining the client experience, the digital health revolution and transformational analytics and technology,” according to the