Exelon chooses Baltimore software firm for first Racial Equity Fund investment

Exelon Corp. chose a Baltimore software company as its first investment from a fund intended to provide capital to minority-owned businesses. The $36 million Exelon Racial Equity Capital Fund invested $1 million in Baltimore software company Sweeten. The deal is the fund’s first investment since Exelon launched the initiative in 2021. Exelon (NASDAQ: EXC) plans to use the fund to provide equity investments of up to $1 million along with $100,000 to $300,000 loans to small minority-owned firms in Exelon’s service areas over three years.