$126.5 Million SPAC Formed to Acquire Black Owned Firms
Shawn Rochester is the CEO of Minority Equality Opportunities Acquisition Inc. (“MEOA”) the first minority-led special purpose acquisition company (SPAC) listed on the Nasdaq.
The company will focus its search and transactions on historically undercapitalized minority-owned/controlled businesses in various industry sectors across the country.
In this episode, Shawn discusses:
- Being the only SPAC working with a Black owned bank
- MEOA exceding its initial $100M goal and and raising $126M
- How his company plans to help Black businesses grow through aquisition
- What MBE’s need to have in place in order to qualify as an ideal investment
- The need for more Black capital providers and Black led investment firms
- The cultural disconnect that prevents some non Black firms from investing in Black companies.
- The importance of building a well capitalized business infrastructure in the Black community
- The inspiration behind his book “The Black Tax: The Cost of Being Black in America”
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