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    BARC   GB0031348658

BARCLAYS PLC

(BARC)
  Report
Delayed London Stock Exchange  -  11:35 2022-10-04 am EDT
150.74 GBX   +3.90%
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JPMorgan, Bank of America invest in L'ATTITUDE Ventures' first fund

08/03/2022 | 05:36am EDT
FILE PHOTO: A customer exits the lobby of JPMorgan Chase & Co. headquarters in New York

(Reuters) - L'ATTITUDE Ventures on Wednesday closed its first institutional fund raising over $100 million with an anchor investment from Wall Street giant JPMorgan Chase and initial investments from Trujillo Group and Bank of America.

The fund which intends to invest in early-stage companies that are either founded or run by Latino entrepreneurs also had investments from Barclays, the Royal Bank of Canada and Cisco, among others.

Several large financial firms have looked to increase their diversity footprint and support minority communities since 2021 as impact investing gains momentum. Companies are becoming more conscious of backing businesses and startups from traditionally underrepresented socio-cultural backgrounds.

"(The investment) reinforces our ongoing efforts to address the persistent gap in access to growth capital and open more doors for emerging companies led by diverse entrepreneurs," said Bank of America's Chief Executive Brian Moynihan in a statement.

Latin American companies, especially in the technology and financial sector, have made multi-billion dollar entries into the U.S. market. Last year, Brazilian digital lender Nubank fetched a valuation of nearly $52 billion in its market debut.

"Latino-led businesses are critical to the U.S. economy but often lack access to capital and resources for growth," said Jamie Dimon, chief executive officer, JPMorgan.

The investment is intended to build on the largest U.S. bank's broader commitment to supporting Latino entrepreneurs and small businesses in the country, Dimon added.

(Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION 4.15% 32.38 Delayed Quote.-30.12%
BARCLAYS PLC 3.90% 150.74 Delayed Quote.-19.39%
CISCO SYSTEMS, INC. 2.22% 41.82 Delayed Quote.-34.84%
ROYAL BANK OF CANADA 2.59% 128.7 Delayed Quote.-6.55%
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Financials
Sales 2022 24 842 M 28 413 M 28 413 M
Net income 2022 4 534 M 5 186 M 5 186 M
Net Debt 2022 - - -
P/E ratio 2022 5,59x
Yield 2022 4,78%
Capitalization 23 889 M 27 323 M 27 323 M
Capi. / Sales 2022 0,96x
Capi. / Sales 2023 0,95x
Nbr of Employees 81 600
Free-Float 99,8%
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Technical analysis trends BARCLAYS PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 150,74 GBX
Average target price 233,78 GBX
Spread / Average Target 55,1%
EPS Revisions
Managers and Directors
C. S. Venkatakrishnan Group Chief Executive Officer & Director
Angela Anna Cross Group Finance Director & Executive Director
Nigel Paul Higgins Group Chairman
Mark Ashton Rigby Group Chief Operating Officer
Laura Padovani Global Head-Compliance Services
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1st jan.Capi. (M$)
BARCLAYS PLC-19.39%26 031
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