NEW YORK, March 2, 2020 – The Goldman Sachs Group, Inc. (NYSE: GS) today announced an expansion of its Launch With GS initiative with the introduction of its first Black and Latinx Entrepreneur Cohort. The Cohort is designed to provide high-touch access and resources to a select group of US-based Black and Latinx founders to fast-track their companies’ growth and build relationships with investors and industry experts.
“Black and Latinx founders collectively receive less than 1% of venture funding,” said Jemma Wolfe, head of Launch With GS. “We believe that by engaging early with Black and Latinx entrepreneurs, we lay a foundation to support, scale, and invest in an important group of fast growing start-ups.”
The Black and Latinx Entrepreneur Cohort is an extension of Launch With GS, Goldman Sachs’ $500 million investment strategy grounded in the belief that diverse teams drive strong returns. Through Launch With GS, Goldman Sachs aims to increase access to capital and facilitate connections for women, Black, Latinx and other diverse entrepreneurs and investors. Since its inception in June 2018, Launch With GS has deployed more than $230 million globally across businesses with diverse leadership.
As part of the Entrepreneur Cohort, founders of high growth companies will participate in customized 1-on-1 and sector specific workshops with Goldman Sachs leaders across investment banking, research and investing teams. Additionally, founders will meet with industry-leading startup experts on topics ranging from legal considerations to cap table structure to marketing and branding, and have opportunities to engage with the broader Goldman Sachs network. The experience will be primarily virtual in order to provide the best of Goldman Sachs to innovative entrepreneurs, while they focus on building their businesses.
The eight-week program will culminate in an Investor Showcase at 200 West Street in New York with an invite-only investor audience.
Launch With GS has also created an external Advisory Council, which includes leading investors, entrepreneurs and executives who are collaborating with Goldman Sachs to narrow investing gaps while driving returns.
“We started Launch With GS with the clear conviction that diverse leadership teams perform better. We knew there was opportunity in what is essentially an underinvested asset class,” said Margaret Anadu, head of the Goldman Sachs Urban Investment Group and a member of the Launch With GS Board of Advisors. “We’re looking to drive capital to the best opportunities, and investing in diverse teams has made for an incredibly effective investing strategy.”
About The Goldman Sachs Group, Inc.
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
About Launch With GS
Launch With GS is Goldman Sachs’ $500 million investment strategy grounded in our belief that diverse teams drive strong returns. Through Launch With GS, Goldman Sachs aims to increase access to capital and facilitate connections for women, Black, Latinx and other diverse entrepreneurs and investors.
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