Jaylon Smith built his career as one of the NFL’s most respected linebackers. But off the field, he found his purpose beyond athletics: closing the wealth gap in America by investing in minority entrepreneurs. In 2019, Smith founded the Minority Entrepreneurship Institute (MEI), and Commonwealth was proud to operate the initiative on his behalf — combining Smith’s vision and platform with Commonwealth’s infrastructure for impact investing.

MEI’s model is simple but powerful: identify high-potential Black, Latinx, and female founders, and give them the pitch competitions, mentorship, and seed capital that traditional venture pathways too often deny them. Since its founding, MEI has invested more than $1.2 million in minority-owned enterprises, built a portfolio of more than a dozen companies, and cultivated a pipeline of hundreds of entrepreneurs across cities including Indianapolis, Dallas, Fort Wayne, and Tampa.

Building on that early success, Commonwealth, a Sagamore Venture, is now launching MEI Capital Fund I, a $25 million fund designed to invest at greater scale in promising, high-growth minority founders. It’s a natural next step in the partnership between Smith and Commonwealth — moving from pitch competitions and seed checks to institutional capital aimed at building lasting Black wealth.