Colin Kaepernick Is Now Co-Chair Of A Company Targeting Racial And Diversity Issues In Enterprise Businesses.
Colin Kaepernick last played in the NFL in 2016, but his legacy is still strong during professional play. He began a conversation about social justice after kneeling during the national anthem. And now, he is taking his efforts to a new company specifically to target large enterprise businesses.
Kaepernick was named the co-chairman of Mission Advancement Corp. of a blank check or special purpose acquisition company (SPAC). Mission Advancement will primarily focus on racial and diversity issues in enterprises worth more than $ 1 billion. The company is the latest in the environmental, social and governance (ESG) space.
The company currently plans to raise at least $ 250 million by selling 25 million shares at a price of $ 10. According to their SEC filing, the company plans to target a business that “saves a significant impact financially, culturally and socially.”
The Mission Advancement Leadership Team and Board have an impressive background. Jahm Najafi will serve as CEO and co-chairman. Najafi is the founder and CEO of a board of Najafi Companies, NBA governors, and co-owners of Phoenix Sun and McLaren F1 Racing. Najafi will also bring his CFO Peter Keane along.
As part of the SPAC’s social mission, the independent board is composed of 100% Black, Indigenous and People of Color (BIPOC) with a female majority. The board includes Dre CMO Omar Johnson, Birchbox co-founder and CEO Katia Beauhamp, CalPERS Board of Administration members Stacey Olivares-Howard and Attica Jacques, currently head of Google’s global brand consumer marketing.
Other company advisors include Andre Horowitz co-founder Ben Horowitz and award-winning director Ava DuVernay, who are starting a Netflix series about Kaepernick’s childhood and experiences growing up.
The company does not yet have a public listing date, but there are plenty of great minds to work with. They will work with other companies to continue conversations around social justice – and inspire organizations to take action.