Founders will be provided with a team of advisers who can guide them along the way.
Aurora James, founder of the Fifteen Percent Pledge, has spearheaded the Friends and Family Collective, which is an initiative that helps fund Black-owned businesses, according to Fast Company.
James is teaming up with Alisa Williams, a partner at VMG Partners, to tap into an $850 million fund.
The duo has already invested $25 million in Ghetto Gastro, Beauty Stat, Melanin Hair Care, Proudly and Danessa Myricks.
The Friends and Family Collective focuses on businesses that "already have a proven track record" and are in a position to grow.
Founders will be provided with a team of advisers who can guide them along the way.
