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A $250 Million Fund Steers HBCU Endowments Into Venture Capital

The Advancement Initiative aims to help less prosperous schools bridge the wealth gap through investments in late-stage startups.

By

Lizette Chapman and

May 27, 2021, 8:00 AM UTC

College endowments illustrate just how deep-rooted inequality is in higher education.

U.S. college endowments held about $630 billion in fiscal 2019. But just a few schools account for much of that: More than one-third comes from the top 10, led by Harvard, the University of Texas, and Yale. By comparison, the assets of the approximately 100 historically Black colleges and universities (HBCUs) total just under $4 billion, with Howard University holding the most—$712 million as of June 2020.