Investing in Minority-owned Businesses
A stumbling block for growth for many Black- and Hispanic-owned businesses is access to capital and leadership. Earlier this year, three Charlotte business titans – Malcomb Coley, managing partner with EY; former Bank of America CEO Hugh McColl; and Duke Energy Executive Lloyd Yates – announced the creation of Bright Hope Capital, a unique investment firm to support and elevate minority-owned businesses in the Charlotte region.
Since January, Bright Hope has acquired two such companies to their portfolio. The firm hopes to give a leg-up to Black and Hispanic-owned businesses in the region. To discuss are: Lorie Spratley, the newly named Chief Operating Officer for Bright Hope Capital; and James Mitchell Jr., retired Charlotte City Council member and the new president of RJ Leeper Construction, which was recently acquired by Bright Hope.