Pepco and Exelon announced a $2.7 million investment in four minority-owned businesses on Friday. “Today’s been a long time coming,” said Pepco Vice President of Governmental and External Affairs Valencia McClure.
Pepco’s parent company, Exelon, launched the Racial Equity Capital Fund (RECF) in 2022 to expand capital access to diverse businesses.
This latest $2.7 million investment is just a portion of RECF’s $36 million in funding. At the announcement, D.C. Mayor Muriel E.
Bowser spoke about the other ways Pepco and Exelon have “put their money where their mouth is” through their partnership with the D.C.