Thanks to initiatives such as Ownership Works, a growing number of private markets firms have begun to integrate employee ownership schemes. However, few firms have gone further in this regard than Apis & Heritage Capital Partners.

Founded in 2020, the firm finances the conversion of companies with substantial Black, Indigenous and People of Color (BIPOC) workforces into 100 percent employee-owned businesses through its employee-led buyout strategy. The firm closed its first fund in 2022.

In this episode, senior reporter Charles Avery connects with Philip Reeves, who co-founded the firm alongside Todd Leverette, to understand how such a strategy works in practice and how it delivers positive impact and returns for investors.

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