According to an article in Black Enterprise Magazine,
"William Michael Cunningham, an economist who runs Washington, D.C.-based Creative Investment Research, says MEOA’s offering could prompt other investors to create new SPACs and venture capital funds to invest in Black companies.
'This is relevant because it may represent a new and significant source of capital that has not previously been available to Black and minority firms. If it works as intended, you could see billions in new startup and operational capital going to Black firms,' he says.
He says the offering’s timing was perfect because of the increased attention on Back economic empowerment. That is fueled, he says, by the increased requirement corporations and investors are showing toward their commitment to doing business with Black firms."
See: Black Enterprise Magazine. Exclusive: Black-Led SPAC Raises Colossal $126.5 Million, Set To Acquire Black, Minority-Owned Firms. https://lnkd.in/dyWy6D35
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