Ill., Oct. 31, 2022 /PRNewswire/ -- Deere &
Company (NYSE: DE) today announced it will be entering a
partnership as a limited investor in Advantage Capital's Empower
the Change (EPC) growth fund, which provides entrepreneurs of color
access to capital in order to grow their businesses and create
Deere's commitment to the fund as a lead investor is part of the
company's broader objective of allocating $500 million within the next three years to
identify and grow relationships with underrepresented and
disadvantaged business enterprises, creating a more diverse and
sustainable supplier network within the agriculture industry.
"John Deere is committed to strengthening underrepresented
communities and creating equitable wealth within the agriculture
industry," said Wallas Wiggins, vice
president of global supply management and logistics for Deere.
"This announcement supports our company's history of advocating
for—and investing in—opportunities that advance social and economic
change. We look forward to seeing the positive impact within the
lives and livelihoods of the small suppliers the Empower the Change
fund will help scale."
John Deere has placed a robust emphasis in working with partners
across the country to create equitable opportunities for
communities previously under engaged. In 2020, in partnership
with the National Black Growers Council and the Thurgood Marshall
Fund, Deere launched the LEAP Coalition focused on improving the
livelihoods of Black farmers. LEAP (Legislation, Education,
Advocacy and Production Systems) works with organizations such as
the Federation of Southern Cooperatives and the Center for Heirs
Property to provide awareness, assistance and legal help and
counsel to help Black and minority farmers gain a clear title to
their land and ensure the long-term sustainability of their land.
John Deere deploys a multi-faceted approach to funding which
includes not only monetary investments in programs but resource
support. John Deere's investments include funding to support
the National Black Growers Council, The Federation of Southern
Cooperatives, Minorities in Agriculture, Natural Resources and
Related Sciences (MANRRS), Thurgood Marshall College Fund and 1890
land-grant institutions such as North Carolina A&T.
About Deere &
Deere & Company (www.JohnDeere.com) is a global leader in
the delivery of agricultural, construction, and forestry equipment.
We help our customers push the boundaries of what's possible in
ways that are more productive and sustainable to help life leap
forward. Our technology-enabled products including John Deere
Autonomous 8R Tractor, See & Spray™, and E-Power Backhoe are
just some of the ways we help meet the world's increasing need for
food, shelter, and infrastructure. Deere & Company also
provides financial services through John Deere Financial.
For more information on Deere & Company, visit us at
About Advantage Capital:
Advantage Capital provides financing to established and emerging
companies located in communities underserved by conventional
sources of capital. Since 1992, the firm has invested more than
$3.6 billion in companies from a
diverse array of industry sectors and has helped support more than
65,000 jobs. Learn more at www.advantagecap.com, or via Twitter or
SOURCE Deere & Company