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BJC Healthcare Announces Investment in Wepower Capital.
st. LOUIS — His BJC Healthcare, the largest employer in the St. Louis area, invested in a local fund set up to provide capital for local Black and Latinx entrepreneurs.
The health system announced Wednesday that it has invested in Wepower Capital, a fund created by the St. Louis nonprofit Wepower. BJC declined to disclose the investment amount.
Wepower, which announced the launch of a fund in August 2021 to build an equitable education and economic system in St. Louis, announced Wednesday that the fund will total $1.5 million. Previously, the fund’s investors included not only St. Louis-based investors, but also New York-based Charlotte, a collection of foundations and financial institutions focused on making investments to end racial disparities. It was stated that it includes Living Cities that do.
BJC’s investment comes after Wepower Capital announced its first investment from the fund in September 2022, in St. Louis e-commerce startup Bold Xchange. Wepower said Wednesday it plans to make additional investments this year.
“Investing in BJC is a smart choice. It reflects an understanding that investing can be used as a tool to increase equity,” said Yoni Blumberg, Vice President of Community Wealth Building at Wepower. increase. When considered holistically and considering both the social and economic impact they can achieve, billions of dollars will be invested in creating a wider, more vibrant, equitable and sustainable future for St. Louis and the world. You’ll be able to put in dollars faster. ”
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