Building a $90 Million Bridge to HBCU Careers

AltFinance’s chief executive, Marcus Shaw, talks about a bold new effort to connect students from historically black colleges and universities with the private finance sector. The idea started in 2021, when Shaw and his team realized that many talented graduates lack the insider knowledge needed to break into investment firms. The nonprofit now offers apprenticeship programs that pair HBCU students with seasoned professionals, giving them hands‑on experience and mentorship. A key milestone for the organization is a $90 million pledge from several leading investment companies, including Oak Tree Capital. These funds will support scholarships, training workshops, and networking events that open doors for young talent. Shaw explained that the money is not just a donation; it’s an investment in a more diverse and inclusive financial industry. Shaw’s personal journey fuels his mission. He grew up in Maryland, later worked on Wall Street as a trader, and earned a degree from Morehouse College. A memorable moment—missing a crucial field goal in college—reminded him that small setbacks can shape future choices. That experience pushed him to create opportunities for others who might face similar challenges.The program’s structure blends classroom learning with real‑world projects. Participants tackle case studies, analyze market trends, and even contribute to live deals under supervision. This hands‑on approach equips them with practical skills that employers value, increasing their chances of landing permanent roles after graduation. Beyond training, AltFinance focuses on building a supportive community. Regular meet‑ups and online forums let apprentices connect with peers, share advice, and build a network that extends into the broader finance world. This sense of belonging helps reduce feelings of isolation often reported by students entering competitive fields. The initiative also addresses systemic gaps in the finance pipeline. By targeting HBCU graduates, AltFinance tackles underrepresentation and promotes equity. The long‑term goal is to shift industry demographics, ensuring that diverse perspectives influence decision‑making at the highest levels. Future plans include expanding to more HBCUs nationwide and partnering with additional firms for broader exposure. Shaw believes that a collaborative effort between education institutions, nonprofits, and private companies can create lasting change. AltFinance’s story shows that strategic funding combined with targeted mentorship can unlock talent and reshape industries for the better.