ESG NEWS –
Known’s mission is to address the structural barriers in the financial system that keep BIPOC-owned businesses from growing to scale. That economy, representing a combined buying power of an estimated $3.9 billion, would be among the five largest economies in the world. But communities of color, which represent 70 percent of the global population, but control less than two percent of the world’s capital.
In order to elevate the New BIPOC Majority in the U.S. to wealth and ownership commensurate with its size, Known is targeting the financial industry. Although that industry is the source of many systemic inequities, it also home to the resources which, if properly deployed, can help rectify the racial wealth gap. By assembling a team of top leaders and thinkers in finance, Known can provide the funding, counsel, technology, and back-office support needed to grow BIPOC-owned asset management firms, businesses and investment funds to their rightful scale.
“Known is singularly focused on mechanisms for massive expansion,” said Molina Niño. “We’re here to grow BIPOC-owned firms to make them category leaders, and to grow them do it with a focus on the needs of BIPOC communities, such as climate, justice, and sustainable wealth creation.”