fund, SCFU, Carmelo Anthony, Chris Paul, Dwyane Wade, Social Change Fund United

Relaunched Fund By NBA Legends Investing $23OK To Propel Black Youth And Entrepreneurs

The fund is led by NBA legends Carmelo Anthony, Chris Paul, and Dwyane Wade.

Led by NBA legends Carmelo Anthony, Chris Paul, and Dwyane Wade, the Social Change Fund United (SCFU) is investing $230,000 into two new initiatives to help uplift the Black community.

The latest effort by the trio—also philanthropists and entrepreneurs—is part of a strategic focus to economically empower historically marginalized U.S. communities as well as bolster Black youth and entrepreneurs.

Founded in 2020 to counter pervasive racial injustices nationwide, SCFU focuses on backing organizations that advocate for communities of color. The fund claims its work has impacted over 130,000 individuals through efforts like the George Floyd Memorial Foundation, scholarship distributions, and partnerships with nonprofits.

SCFU says it has distributed nearly $1 million in grants, including over $60,000 to small business owners in cities including New Orleans, Chicago, Los Angeles, and Winston-Salem, North Carolina.

Now as part of a revived vision, SCFU maintains its plans to play a vital role in narrowing the racial wealth gap by fighting for entrepreneurship, leadership, and innovation for Black and brown communities.

With that, SCFU shared how it plans to invest the $230,000 into SCFU We Got Next and SCFU Legacy:

  • SCFU We Got Next is an initiative aiming to provide youth with access to build entrepreneurial skills to become future business leaders. SCFU will invest a combined $125,000 into its partners Gray Matter Experience, AllStar Code, and Rapunzl. 
  • The SCFU Legacy initiative, in partnership with Stackwell Capital, will supply six grants to minority-owned, Los Angeles-based small businesses. The program will start this summer with its inaugural 2024 cohort. SCFU will put $105,000 toward the legacy initiative.

SCFU Executive Director Aida Morrow said of the fund, “We’re excited to launch a new dimension of SCFU and to clarify our purpose of empowering underrepresented communities. Through this redirection, we hope to light the way for a more inclusive future to unlock potential, bring on new partners, and authentically uplift the communities in which we serve.”

SCFU co-founder Chris Paul, now with Golden State Warriors, added, “Our engagement within communities of color is critical to producing the impact and results of our mission.” His co-founders, Wade and Anthony, respectively retired from the NBA in 2019 and 2023.

Callie Curry ,SCFU Advisory Board Member and Creative Artists Agency (CAA) Executive, reflected on the the fund’s new focus.

“We are proud of the progress we’ve made over the last three years and are confident that this next phase of our work will scale our efforts, gain new partners with a similar vision and capital, and impact more lives.”