The board of Mission Advancement Corporation, which includes Ava DuVernay, is all BIPOC members and a female majority.
According to Tuesday’s SEC filing, at first glance with Disney and the ultra-successful Nike campaign, Colin Kaepernick is forming a special-purpose acquisition company, raising $ 250 million in its initial public offering.
The company, Mission Advancement Corp, is co-founded by Jahm Najafi and plans to acquire a nearly $ 1 billion company that has the potential to create a positive social and cultural impact.
That goal has not yet been identified, but the filing indicates that they are looking for a business that reflects these three themes: “I. Consumers investing in brands that reflect their social values And recognize that purchasing decisions can serve as instruments of change.
II. Companies are becoming more mission-driven and want to align with culturally relevant social causes. III. Brands are evolving into media platforms, able to influence authentic culture and celebrity to help increase awareness, marketing performance, and value. ”
Mission Advancement Corp. will leverage Kaepernick’s brand marketing and investment experience with its “mainstream popularity, large-scale reach, and high-profile relationships” to attract investors and, after being acquired, he is an owner, board member, And intends to remain as hands. Global Ambassador.
The board stands out with top talent across a wide range of industries, including Ava DuVernay, Birchbox founder Katia Beauchamp, Dre CMO Omar Johnson’s former Beats, Google’s head of global brand-consumer marketing Attica Jacques, and Brian Lee, who made the company honest. Co-founded. Kim Kardashian with Jessica Alba and Shoeszle.
The filing states that Najafi and Kaepernick’s commitment to their social mission is reflected in the formation of an independent board made up of 100 percent black, indigenous, and people of color (BIPOC), and women are the majority.
“In addition, our team has shown intent to launch an initiative in connection with the consumption of our initial business combination to provide college students opportunities to gain access to fellowships and full-time opportunities in business and finance for undergraduate communities. ”