Cummins says the company is investing $5 million into a fund that supports businesses led by people of color and women.
The Columbus-based engine manufacturer announced yesterday a new partnership with Reinventure Capital out of Boston through the company’s Cummins Advocating for Racial Equity or CARE program. CARE was launched in 2020 to work to address systemic discrimination against Blacks and to drive racial equity in the U.S.
Reinventure President Ed Dugger says Cummins is “among a rarefied few who are creating new, non-traditional approaches to inclusive business practices.” He says Reinventure is proud to work with Cummins to move Black businesses into the American mainstream, to “help build a strong economy and to contribute to the welfare of us all.”
Reinventure Capital is managing a $50 million fund to be leveraged over about five years.
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