Seven years ago, when Darrin Redus took over as director of Cincinnati’s nationally renowned Minority Business Accelerator, he knew someday there would be a gap between the accelerator’s capabilities and its members’ ambitions. Indeed, while the accelerator had helped businesses owned by Blacks, Hispanics and other minorities get off the ground, many of them eventually ran into specific headwinds: a lack of personal net worth and a shortage of investors. In 2019, Redus teamed with Jill Meyer, CEO of the Cincinnati USA Regional Chamber, to focus more intently on the problem. “We’ve got to do it ourselves,” Redus told Meyer. “There’s got to be a better model,” Meyer said. The accelerator is now raising a $100 million fund to help minority-owned companies in the Midwest supercharge growth. It wants to take advantage of the “silver tsunami” – the nearly $5 trillion in business assets whose founders lack a succession plan and will come to the end of their working life by 2030. The fund hopes to help companies make at least three or four transactions by the end of 2023, with a stretch goal of six. “If we can, in three to five years, create 15 to 20 high-scale […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
