“A limited partnership of investors that uses high-risk methods, such as investing with borrowed money, in hopes of realizing large capital gains” is the motto or this student-run hedge fund that is aimed to give back to minority entrepreneurs under-served by established hedge funds.
Founded in 2017, BLK Capital Management Corp. is a 100% black-owned, nonprofit hedge fund founded by three black students from Harvard and Princeton University. Its mission is to help change the culture of the financial services industry. The three founders, who were individually a part of finance organizations on their respective campuses, quickly noticed that all of their organizations had one common problem: they were severely lacking a black presence.
They decided to come together to focus on educating black students about investing opportunities in the financial services industry. The goal is to get African American students active in the field of investment management–where there is little to no black presence–with first-hand experience. The organization allows students to gain valuable exposure by managing an invested pool of money into different global ventures.
Angel Onuoha, the current CEO, is focused on leading the organization as it approaches its 2020 national conference on February 28 and 29 in New York City. The conference will host more than 80 students from across the country and feature networking seminars, keynote speakers from the sponsors, and diversity panels. The two-day affair will culminate in a stock pitch competition with the winners honored in a pre-closing ceremony. The event is sponsored by Bank of America, Morgan Stanley, Fidelity, Point72, JP Morgan, Chase, Goldman Sachs, Vanguard, and Blackstone.
BLK Capital Management will launch its scholarship competition for the Onuoha Fellowship, a four-year program for outstanding African-American high school seniors who exhibit academic excellence, leadership capabilities, and a passion for bringing world-changing entrepreneurial ideas to life.