Photo: BET
Courtney Adeleye is the Founder and CEO of The Mane Choice, a haircare company that has disrupted the entire industry. The company has distribution deals nationally with Target, Walmart and Sally Beauty Supply, to name a few. Adeleye’s most recent move, however, is one very dear to her heart and we can tell by the dollar amount attached to it — $30 million. That’s how much of her own money Courtney is investing in a new fund for Black women entrepreneurs.
Adeleye has teamed up with MAV Beauty Brands to create The Generational Advantage Fund. The fund will be a foundational pillar, serving women of color who aspire to be entrepreneurs. This initiative will offer concrete supports, ranging from financial literacy to housing and also, help with securing funding for startups. In time, the fund will surely grow to be a first destination for Black women who dream of achieving the type of success that Courtney has. The passion Courtney has for this fund and the energy surrounding it is certainly needed.
The rate at which Black women opened businesses between 2007 and 2018 was three times that of all other women. Black women are the most active group of entrepreneurs you’ll find, period. Yet, at the same time, growing and scaling those businesses can be a challenge. In fact, less than 1% of Black women founders actually get any venture capital funding behind their ideas. Certainly there are many factors that contribute to the problem but more importantly, Black women need support and resources to reverse those trends. The Generational Advantage Fund is a positive step in that direction.
Courtney Adeleye is a unique success story, one of a Black woman who bet on herself and shocked the entire world. Her legacy, however, will be much greater than that. Adeleye will be the reason that hundreds more Courtney Adeleyes are birthed. With her commitment to grooming more successful Black women entrepreneurs, Adeleye is taking the game up to another level.
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