Community Development Investors (CDI) Announces Partnerships to Create First-Ever Entrepreneurship Through Acquisition Clubs at HBCUs

WASHINGTON, DC, UNITED STATES, November 20, 2025 /EINPresswire.com/ -- At a gathering of more than 100 public, private, and social sector leaders on November 18, 2025, at the Royal Sonesta Capitol Hill, Community Development Investors (CDI) announced a landmark partnership with four universities — Howard University, Morgan State University, Virginia State University, and Claflin University — to establish the first-ever Entrepreneurship Through Acquisition (ETA) Clubs for MBA students at Historically Black Colleges and Universities (HBCUs). CDI is an initiative of the Economic Opportunity Coalition (EOC), a public-private partnership dedicated to building wealth in underserved communities.

This initiative marks the first time that HBCU business schools will formally participate in the ETA model — a proven pathway to business ownership that began decades ago at Harvard and Stanford. In ETA, individuals or small teams acquire and operate existing small or mid-sized businesses, rather than starting companies from scratch. By purchasing established firms, ETA entrepreneurs preserve jobs, maintain community anchors, and open new pathways to ownership and wealth-building.

“This partnership represents a transformative moment for inclusive entrepreneurship,” said Christopher Weaver, Executive Director of Community Development Investors. “We’re equipping HBCU students with the tools and relationships to become the next generation of business owners and community anchors.”

Through the new ETA Clubs, students will gain hands-on training, mentorship, and access to national networks of investors and operators. The applied curriculum will guide students through the full lifecycle of a business acquisition — from sourcing and valuing companies to raising capital, structuring transactions, conducting due diligence, and managing post-acquisition transitions.
Conceptualized with initial funding from The Rockefeller Foundation, the CDI–HBCU ETA initiative comes at a critical moment as the nation confronts the so-called “Silver Tsunami.” More than three million baby-boomer-owned businesses are expected to change ownership in the coming decade, yet 80% lack succession plans. CDI and its partners see this moment as an opportunity to build wealth, preserve jobs, and strengthen communities.

“The Rockefeller Foundation is proud to have helped incubate the Economic Opportunity Coalition, which has gone from an ambitious idea to a catalytic independent entity,” said Derek Kilmer, Senior Vice President of U.S. Programs & Policy at The Rockefeller Foundation. “By partnering with HBCUs to support the next generation of business owners, Community Development Investors will help build wealth in underserved communities — making the American Dream real for more people in more places.”

Each participating business school will launch its ETA Club in early 2026, offering semester-based cohorts and mentorship from active ETA investors and operators. The curriculum, developed with CDI’s academic and industry partners, complements rather than replaces the universities’ formal academic programs.

During the announcement, Senator Tim Kaine (D-VA), a longtime champion of Employee Stock Ownership Plans (ESOPs) and Community Development Financial Institutions (CDFIs), delivered remarks highlighting how ETA and employee ownership models can help address the generational transition of small business ownership.

HBCU deans emphasized the importance of exposing students to ownership pathways traditionally concentrated at a few business schools:

• “At Virginia State University, we are excited for this new initiative and for how it will constitute a bridge for our M.B.A. students to small and mid-size businesses.”
— Dr. Emmanuel Omojokun, Dean of the Reginald F. Lewis School of Business at Virginia State University

• “Claflin University is honored to partner with Community Development Investors (CDI) and our esteemed HBCU partners in launching the first-ever Entrepreneurship Through Acquisition (ETA) Clubs at Historically Black Colleges and Universities. This groundbreaking initiative aligns seamlessly with Claflin’s commitment to preparing visionary leaders who are equipped to transform communities, drive economic growth, and create sustainable pathways to generational wealth.”
— Dr. Michelle L. Mayo, Provost and Vice President for Academic Affairs at Claflin University

• “As we continue to develop our continuum of entrepreneurship activities for our students, adding the ETA component will help prepare students for careers in small business acquisition, opening new opportunities for them to build wealth and transform communities.”
— Dr. Royce Burnett, Dean of the Earl G. Graves School of Business and Management at Morgan State University

• “Howard University is proud to be among the first HBCUs to bring the Entrepreneurship Through Acquisition model into our business curriculum. This partnership empowers our MBA students to pursue ownership as a pathway to leadership and community impact.”
— Dr. Anthony D. Wilbon, Dean of the Howard University School of Business

Federal and state leaders also underscored the bipartisan importance of preparing successors for retiring business owners:

• “As a former entrepreneur and venture capitalist, I know that talent and ambition are not confined by income bracket or zip code — but start-up capital often is. I’m thrilled to see this partnership come together to equip HBCU students with the tools to become the next generation of business owners.”
— Senator Mark Warner (D-VA)

• “This groundbreaking partnership is an opportunity for students at Claflin and other HBCUs to access proven pathways to business ownership that have long been available at other institutions. I’m grateful for the work CDI is doing to foster real avenues to wealth creation by providing the necessary tools, networks, and opportunities to support entrepreneurs and strengthen communities.”
—Senator Tim Scott (R-SC)

• “Ensuring the next generation of leaders have the tools they need to succeed is paramount. This partnership will bring incredible opportunity to students at Morgan State and HBCUs across the country.”
—Senator Angela Alsobrooks (D-MD)

• “HBCUs have always opened doors of opportunity, and we know that is especially true of Howard University. This initiative represents what our Growth Agenda in DC is all about — it creates new opportunities for a young generation of entrepreneurs, and it will help us grow local businesses, keep jobs for DC residents, and give talented graduates one more reason to stay in Washington, DC.”
— Muriel Bowser, Mayor of the District of Columbia

About the Economic Opportunity Coalition (EOC)
The Economic Opportunity Coalition is a bold, historic effort launched by twenty-four corporations and foundations in July 2022 to align private and federal investments in low-income, rural, and economically underserved communities. Initially incubated at RF Catalytic Capital, EOC has since spun off into its own independent organization.

About Community Development Investors (CDI)
Community Development Investors (CDI), an initiative of the EOC, is dedicated to building wealth in economically underserved communities through mission-driven investment and entrepreneurship. CDI partners with corporations, foundations, universities, and policymakers to mobilize capital and talent into Entrepreneurship Through Acquisition (ETA) and Employee Ownership (EO) initiatives, ensuring that the coming generational transition of business ownership creates prosperity for all Americans.

For media inquiries, please contact:
Chester McPherson
Email: cmcpherson@eocweb.org
Website: www.eocweb.org

Chester McPherson
Community Development Investors
email us here

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