US-based Constellation Brands, producer and marketer of brands such as Corona, Modelo and SVEDKA, recently announced a $10 million investment in the Clear Vision Impact Fund as part of their larger commitment to invest $100 million in minority-owned businesses by 2030. The Clear Vision Fund was founded in 2020 by financial firm Siebert Williams Shank & Co., the only woman- and minority-owned investment bank in the United States. The aim of the Clear Vision Fund is to provide loans to minority-owned businesses in underserved communities. The Fund already has backing by the likes of Microsoft, Apple and eBay, in addition to Constellation.
This recent investment in the Clear Vision Fund, and their larger commitment to invest $100 million by 2030, is part of Constellation’s racial justice action plan. According to a recent Constellation press release, president and CEO Bill Newlands says the need for such investments and commitments is great because “minority-owned businesses are under-represented in our industry and many other business segments as pervasive and systemic barriers have existed for these companies and their leaders for far too long. We remain committed to doing our part to help remove such barriers.”
Christopher Williams, chairman of Siebert Williams Shank & Co., recently said in a statement, “The members of the Siebert Williams Shank and Clear Vision Impact Fund teams are gratified to have received the support and confidence of these industry-leading corporate partners that have enabled this important mission. We look forward to enhancing the economic prospects for the diverse community members that will benefit from the economic growth that is made possible through this critically important investment initiative.”
The Clear Vision Impact Fund is already accepting applications and will initially distribute $100 million to small businesses.