Baltimore Rises As a Tech Hub Focused on ‘Equi-Tech’ - s11 ep46
Philanthropist Russell Fugett Launches Equity Endowment to Both Make Grants and Invest in Diverse Founders and Communities Like Baltimore
Russell Fugett, a prominent Baltimorean, joined me to discuss his work supporting diverse founders, especially in his hometown. He alerted me to some news I’d missed: the White House recently named Baltimore one of 31 regional tech hubs around the country.
Russell brings his Equity Endowment to that table. He’s building a nonprofit foundation that is raising capital in a university-like endowment. The fund will invest the capital in diverse fund managers investing in diverse founders and communities like Baltimore. The Equity Endowment will then make grants to programmatic nonprofits that support diverse founders. Thus, the plan is to have two significant and parallel paths to impact for the same communities.