A hedge fund is defined as, “a limited partnership of investors that uses high risk methods, such as investing with borrowed money, in hopes of realizing large capital gains.” That sounds like code for a room full of rich white guys but a nonprofit launched by a Black student is changing the game. BLK Capital Management, Corp is a 100% Black owned and student run nonprofit hedge fund. The organization focuses on educating its members by exposing them to the world of “active investment management.”
BLK Capital Management is focused on getting Black students into active investment management and experiencing the industry firsthand. BLK Capital Management allows students to get their hands dirty by managing an invested pool of money. The fund participates in real-time investing globally, challenging itself to outperform industry averages. Ultimately, the organization is seeking to change the makeup of the financial services industry and steer Black people into an area where historically, there has been little to no Black presence.
BLK Capital Management, Corp was founded in 2017 by three Black students from Harvard and Princeton, who wanted to help change the culture and makeup of the financial services industry. The three founders were apart of finance organizations on their respective campuses but quickly noticed that these organizations were severely lacking a Black presence. They decided to form a program that would focus on educating Black students and allow students from schools across the country to have the opportunity to learn about investing and opportunities in the financial services industry.
Angel Onuoha is the current CEO of BLK Capital Management, along with being a co-founder of the organization. Onuoha is focused on leading the organization as it approaches its 2020 National Conference on February 28 and 29 in New York. The movement that BLK Capital Management is a necessary one, one which could impact the whole of Black America, if properly organized to the end of capitalizing the collective.