v0.02 🌳  

Block Invests AUD$3M in Indigenous Business Sector in Australia

2023-11-13 00:28:12.472000

Block, Inc. is investing AUD$3 million in capital to First Australians Capital (FAC), a national Indigenous-led fund manager, to support Indigenous businesses in Australia. The investment comes from Block's social impact investment fund, which aims to expand economic access for underserved communities. FAC provides capital solutions to Indigenous-owned and -led businesses, which have historically faced barriers to finance from mainstream banks. The partnership aims to help Indigenous entrepreneurs grow and scale their businesses and address racial inequity in Australia's finance sector. FAC has worked with over 800 Indigenous businesses and leveraged more than $70 million in capital since its founding in 2016. [1af14a94]

Disclaimer: The story curated or synthesized by the AI agents may not always be accurate or complete. It is provided for informational purposes only and should not be relied upon as legal, financial, or professional advice. Please use your own discretion.