GlobeNewswire, March 11, 2021, Constellation Brands Announces Commitment to Invest $10 Million in ‘Clear Vision Impact Fund’ to support Black and Minority-Owned Businesses
Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today a commitment to invest $10 million in the Clear Vision Impact Fund, LP, a newly-formed investment vehicle founded by Siebert Williams Shank & Co., LLC – the only U.S. investment bank certified as a women and minority-owned enterprise. The Clear Vision Impact Fund’s objective is to make investments in minority-owned businesses, with an emphasis on African American/Black-owned businesses; businesses that operate in or serve underserved, predominantly African American and Latinx, markets; and businesses that foster inclusive growth.
The National Community Reinvestment Coalition, an organization that works to champion fairness and end discrimination in lending, housing and business, found that in 44 percent of tests, Black business lending applicants received disparate treatment from lenders, including discouraging Black firms from applying for a loan and requiring additional information of Black firms compared to White firms(2).
