Apple’s racial equity & justice initiative surpasses $200 mn in investments

Apple said Wednesday that the Equity and Racial Justice Initiative has surpassed $200 million in investments, supporting education, economic empowerment and criminal justice reform work in five countries since its launch in 2020.

The tech giant said it is investing an additional $25 million in venture capital to expand support for minority companies and address systemic barriers to accessing financing.

REJI is a long-term global effort to advance equality and expand opportunity for Black, Hispanic/Latino, and Indigenous communities.

“Building a more just and equitable world is an urgent business that requires collaboration, commitment, and a shared sense of purpose,” said Tim Cook, Apple CEO.

“We are proud of our partnership with so many extraordinary organizations that are dedicated to addressing injustice and removing barriers to opportunity,” he added.

With REJI Education Grants, Apple has reached more than 160,000 learners with in-person coursework and out-of-school offerings, with more than $50 million going to historically black colleges and universities (HBCUs) and Hispanic Service Institutions (HSIs) to support science and technology Engineering, Arts and Mathematics.

“We launched REJI at a critical inflection point for our country,” said Lisa Jackson, Apple’s vice president of Environment, Policy and Social Initiatives. “We are determined to continue to build on the progress we’ve made to ensure equal opportunities for Black and Brown communities across America and around the world.”

Apple has also committed an additional $25 million to three venture capital funds that work with minority owned companies.

With this new round of investment, Apple has committed $50 million in venture capital support and more than $100 million in total financing to diversified, mission-compliant companies and financial institutions.

– Jans

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