Petition To Support University Endowment & State Pension Investment For African-American Entrepreneurs

Less than 1 percent of venture capital and private equity goes to African-American
entrepreneurs. University endowments and state pension funds invest billions of dollars annually and claim they value so-called diversity and inclusion.

The mismatch between the scale of investment capital of university endowments and pensions and the lack of capital going to African-American entrepreneurs creates massive increases in inequality.

This petition is the the beginning of a movement to hold tax-exempt and public-related institutions accountable for combating racial inequality and exacerbating white supremacy in America. For example, the African-American teachers in The California Public Employees Retirement System (CalPERS) should see their retirement invested in a way that supports economic justice and fairness.

CalPERS has an investment vehicle valued at more than $400 billion. The University of Texas System endowment has an investment vehicle of $30 billion-plus. Although private, Harvard University has a vehicle valued at more than $40 billion.

We believe investment returns can be enhanced and de-risked by diversifying who gets the venture capital and private equity. It’s time for accountability and Congressional action on the key drivers of racial inequality and the maintenance and optimization of systemic white supremacy.

We strongly oppose the economic disparities being fueled by the investment strategies at universities and public pensions. We call on Congress and state legislatures to research and investigate the investment strategies used to pick winners and losers and the system fueling systemic white supremacy in the U.S.