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Wal-Mart creates $25 mil equity fund for minority, women-owned businesses

(October 20, 2005) Wal-Mart Stores, Inc. has announced that it will invest $25 million to establish a private equity fund that will directly issue equity investments in women and minority-owned business enterprises. The new fund was unveiled at the National Association of Investment Companies conference in San Diego.

The co-investment management fund, which will have an allocation life of five years, will be managed by Dallas-based Aldus Equity to provide equity capital to women and minority-owned business enterprises seeking capital for acquisitions, joint ventures and other growth and expansion initiatives. Prospective investment candidates must either operate companies or be in the process of acquiring companies that distribute or have the capacity to distribute products and services to major retailers.

Investment candidates must also be certified as minority or women-owned or minority-controlled businesses as defined by the National Minority Supplier Development Council (NMSDC) and the Women's Business Enterprise National Council (WBENC).

According to NAIC, although minorities account for 30 percent of the U.S. population, less than 2 percent of all venture and private equity funds are invested in minority companies.

"This fund complements and extends our company's long-standing supplier diversity programs," said Esther Silver-Parker, vice president diversity relations, Wal-Mart Stores, Inc. "While many leading corporations are decreasing their vendor base, we are looking to assist those unique entrepreneurs who have talent and capacity not only to serve Wal-Mart, but also to help drive supplier diversity throughout the retail sector."

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