Access and Opportunity

Welcome back for Season 6 of Access & Opportunity! We're staying focused on the challenges faced by women and multicultural-led businesses in accessing capital, and the overlooked opportunities they represent for investors. But this season Carla is looking at the issue through the lens of six successful relationships.  In each episode we'll talk, together, with a woman investor who is working to change the funding landscape and the leader of one of her portfolio companies. These relationships will offer new perspectives (and playbook points!) on how to make the entire investment ecosystem more inclusive. Stay tuned for Episode 1.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

Today communities of color are in pain as they are forced to navigate the confluence of the Covid-19 pandemic and the continued murder of and violence against black lives. Join us for a special episode of Access & Opportunity, as we continue to try to bridge the gap between the social and economic injustices that oppress communities of color. In this new episode we revisit conversations with black entrepreneurs and investors who have shared their playbook points for how to overcome barriers to success that exist for entrepreneurs because of the color of their skin. Through listening to and elevating their stories we can help identify the economic manifestations of racism, learn from each other and work towards a more equitable society.

Welcome back to Access & Opportunity. In these unprecedented times of COVID-19, we're checking in with some of our favorite guests from previous seasons to understand how they're adjusting their schedules, their businesses, their outlook, and their investing styles. In this episode, Carla welcomes back Hope Knight, President and CEO of the Greater Jamaica Development Corporation and a member of the New York City Planning Commission.Ms. Knight was the inaugural guest on Access & Opportunity almost two years ago. We wanted to see how, despite the current circumstances, she continues to nurture opportunities for businesses in the Jamaica neighborhood of Queens, in New York City. We discuss how she's supporting her partner businesses and tenants, how she's managing the challenges of remote leadership, and her hopes for a relatively rapid recovery.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

Welcome back to Access & Opportunity. In these unprecedented times of COVID-19, we're checking in with some of our favorite guests from previous seasons to understand how they're adjusting their schedules, their businesses, their outlook, and their investing styles. In this episode, Carla welcomes back Dr. Freda Kapor Klein, Founding Partner at Kapor Capital and founder and co-chair of the Kapor Center for Social Impact.Dr. Kapor Klein appeared in season one and in season three, so we wanted to see how, despite the current circumstances, she continues to create opportunities for underserved communities and to close the gap in the venture funding landscape. We discuss how she's thinking about new investments, how she sees the challenges and the silver linings that many startup businesses are facing in the time of COVID-19, and specifically, how it's affecting early-stage companies, the investing community, and the VC community.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2020 Morgan Stanley & Co. LLC, Members SIPC.

Carla Harris checks in with Jewel Burks Solomon, head of Google for Startups in the U.S. and co-founder of Partpic, which she sold to Amazon in 2016. Jewel discusses the importance of self-care and how she's advising companies to think creatively in this time of COVID-19.

Carla Harris checks in with James Rhee, CEO of the clothing retailer Ashley Stewart and founder of the FirePine Group, on how he’s managing—for himself, his employees, his customers, and his portfolio companies—in the time of Covid-19.

This season we’re speaking with entrepreneurs who have successfully scaled and sold their companies with a particular focus on the exit. In the Season 4 finale we hear from someone who has experienced a wide variety of exit scenarios, Henrique Dubugras. Henrique is the co-CEO of Brex - a fintech startup valued at over two billion dollars. But Henrique’s entrepreneurial journey started while programming video games when he was a preteen living in Brazil. And while Henrique is still in his early 20s, he’s already started five companies and has so much to share with us. In this episode we make sure to dive into his decision making processes at several key moments of his entrepreneurial experience. Thank you all for joining us for another exciting season of Access and Opportunity. While we work on Season 5, check out more of our content on the Morgan Stanley Inclusive Innovation and Opportunity page. https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2019 Morgan Stanley & Co. LLC, Members SIPC

Host Carla Harris talks with Jewel Burks Solomon, the founder of Partpic, a startup designed to streamline the purchase of maintenance and repair parts using computer vision. In 2016 Jewel sold her company to Amazon for an undisclosed amount. But as you’ll hear, Jewel’s exit experience was far from a walk in the park. Jewel tells us why she left Silicon Valley to start a company in Atlanta, how she navigated the investing landscape, and what hindsight has taught her. Jewel’s candid explanation of the troubles she faced provide a valuable insight into the less-discussed downsides of the entrepreneur’s journey.You won’t want to miss this one. Come on and join us for the ride.Disclaimer textThe guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

This season, we’re speaking with entrepreneurs who have successfully scaled and sold their companies with a particular focus on their exits. In this episode we sit down with Bob Johnson, the groundbreaking entrepreneur and founder of Black Entertainment Television (BET). In the late 1970s, Bob Johnson came up with what some might say was a radical idea - programming by and for African Americans. And so BET was born. Twenty years later, Bob Johnson sold the company to Viacom for almost four billion dollars, making him one of the wealthiest African Americans in the country.We sit down for a candid conversation with Bob about how he built the company, the importance of finding investors who shared his values, and why he finally sold BET. Along the way, Bob offers some important playbook points regarding team-building and self-confidence. Finally, Bob leaves us with an analysis of the current investment landscape and provides suggestions for how underrepresented entrepreneurs can overcome obstacles that stand between them and their pursuit of capital.Come on and join us for the ride.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

This season on Access & Opportunity, we’re speaking with entrepreneurs who have successfully scaled and sold their companies with a particular focus on their exits. In this episode, we’re joined by Juanita Lott, the founder of the enterprise security firm Bridgestream, Inc.          Juanita isn’t your typical tech entrepreneur. She didn’t study computer science, she isn’t an engineer, but that doesn’t mean she couldn’t start, scale and sell a company for millions of dollars. Through hard work, late nights and a keen sense of business, Juanita navigated her way through the post-dot com era before selling Bridgestream to Oracle for a reported $30 million.Today, Juanita tells shares with us how founders can strategically position themselves to retain control of their companies and outlines a few of the unique challenges people of color face when considering an exit. Finally, Juanita offers advice and encouragement to other non-traditional entrepreneurs who are considering starting their own company. The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

This season on the Access & Opportunity podcast we’re speaking with entrepreneurs who have successfully scaled and sold their companies with a particular focus on the exit. This episode we are excited to talk to Dug Song, the cofounder of Duo Security.While working for several other companies in the oughts, Dug noticed that the existing computer security firms were focusing on profits over customers. He set out to fix that with Duo Security. In seven years, the Michigan-based company grew to over 700 employees by staying true to their mission of building easy, effective, trustworthy, and enduring products before being acquired by Cisco for a reported $2.35 billion.In this episode we talk with Dug about how he ended up working in tech security, the importance of finding leaders to learn from, and why he eventually sold his company. Along the way we’ll hear about his passion for skateboarding, discover the one question he asks every new hire, and discuss how entrepreneurs can operate from a position of power when taking on investors.Come and join us for the ride. The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast. This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. © 2019 Morgan Stanley & Co. LLC, Members SIPC.

Welcome to season four of Access & Opportunity. Over the course of the season, we’ll be speaking with entrepreneurs who have successfully scaled and sold their companies, with a particular focus on the exit. In this first episode we talk to Lisa Price, the founder of one of the nation’s largest multicultural beauty brands, Carol’s Daughter.In the late 1980s, Lisa was working in the television industry by day and formulating lotions and balms by night. After 35 years of building her brand, Lisa sold her company to the world’s largest cosmetic company, L’Oreal. We take you on Lisa’s journey to entrepreneurship, the challenges she faced as she scaled her business, how she found investors, and how she managed to successfully exit. We explore the challenges she faced as a woman of color and the backlash she received when she ultimately sold her company. And finally, we discuss how her story is helping to change the narrative of wealth and success in underrepresented communities.https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast. This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. © 2019 Morgan Stanley & Co. LLC, Members SIPC. 

Welcome back to Access & Opportunity, a podcast from Morgan Stanley dedicated to connecting capital and communities. I’m Carla Harris. In just a few weeks, we’ll be back for Season 4 and we’re excited to continue exploring the extraordinary commercial opportunity investors often overlook - investing in women and multiculturally-led businesses. In our upcoming season we’ll be speaking with entrepreneurs who successfully scaled and sold their companies. We’ll focus not only on how they got there, but how they got out - and what they wish they had known beforehand.And for this season, we’re asking for your help. As we speak to these entrepreneurs who have all sold their companies to large corporations, we’ll be asking them listener-submitted questions. So, if you’re interested in how these prosperous founders built their networks, how they managed to secure that initial investor, or how they navigated their way to success, please leave us a voicemail at 3 - 3 - 0 - 8 - ACCESS (222377). That’s 3-3-0-8-2-2-2-3-7-7. Alternatively, feel free to write us an email with your question at [email protected]. If you’re lucky, you might just hear your question in an episode of the upcoming fourth season of Access & Opportunity!The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Silicon Valley venture firm Kapor Capital recently released its annual Impact Report, which clearly demonstrates that they have not sacrificed returns when investing in women- and multiculturally-led businesses. In this episode of Access & Opportunity, we welcome back Dr. Freada Kapor Klein, a founding partner at Kapor Capital and founder and co-chair of the Kapor Center for Social Impact. Dr. Kapor Klein talks to us about that report, about the principles that guide Kapor Capital's investment strategy, how a focus on skills instead of pedigrees can be both inclusive and effective, and how a new approach to venture capital might help change the capital-access divide. This is the final episode of our third season of Access & Opportunity, where we have been exploring how influential investors, from across various pools of capital, are helping women- and multiculturally-led businesses gain access to capital. After you’ve listened, and while we work on Season 4, check out more of our content on the Morgan Stanley Inclusive Innovation and Opportunity page:https://www.morganstanley.com/what-we-do/inclusive-innovation-and-opportunityThe guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast. This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. © 2019 Morgan Stanley & Co. LLC, Members SIPC. 

Welcome back to Season 3 of the Access & Opportunity Podcast. This season we are exploring how influential investors from across various pools of capital are helping women- and multicultural-led businesses gain access to capital. In this episode, we speak with Charles Hudson, founder and Managing Partner at Precursor Ventures, a seed-stage venture capital firm that was built on that belief that all entrepreneurs, regardless of background, benefit from having an institutional investor to help them scale and grow their company from the very beginning. Charles talks to us about how his experiences as an entrepreneur have shaped his perspective as an investor, why he focuses on pre-seed companies, and how the entire investing landscape needs to change to better incorporate women and people of color at every level.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast. This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. © 2019 Morgan Stanley & Co. LLC, Members SIPC. 

Welcome back for Season 3 of Access and Opportunity. This season, we're exploring how influential investors from across various pools of capital are helping women and multicultural-led businesses gain access to capital. In this episode we'll be talking to the leader of one of the largest black-owned private equity firms in America, JoAnn Price. Twenty-five years ago JoAnn Price created Fairview Capital with her co-founder Larry Morse. As managing partner of Fairview Capital, she has devoted her career to creating opportunities that successfully intermediate capital between institutional investors and underserved markets. Today, JoAnn will talk to us about how and why she started Fairview, the principles the firm is founded on, why diversity in the investment landscape matters, and how other people can follow in her footsteps to increase the amount of capital available to underrepresented groups. The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast. This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. © 2019 Morgan Stanley & Co. LLC, Members SIPC. 

Welcome back for Season 3 of Access and Opportunity. This season, we're exploring how influential investors from across various pools of capital are helping women and multicultural-led businesses gain access to capital. In this episode, we’re talking to Monika Mantilla, a champion for emerging managers and a leader in the Hispanic business and finance communities.As President and CEO of Altura Capital, Ms. Mantilla has played an important role in connecting institutional investors with emerging managers from diverse backgrounds. She is also co-founder and CEO of Small Business Community Capital, an investment fund that helps businesses deliver opportunities for societal transformation. Monika talks to us about how she got her start in finance, why there is a dearth of money managers of color, how she sought to remedy that problem with Altura, and how her work with Small Business Community Capital is enacting social change through impactful investments. Come and join us for the ride!The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Welcome back for Season 3 of Access and Opportunity. This season, we're exploring how influential investors from across various pools of capital are helping women and multicultural-led businesses to gain access to capital. On today's episode we are talking to Dr. Paul Judge, an entrepreneur and investor who is raising the city of Atlanta's profile as a technology hub by investing in multicultural start-ups. In addition to being the serial entrepreneur who started hyper-successful tech companies like Purewire, Luma Home and Pindrop, Dr. Paul Judge is the co-founder of Tech Square Labs, a seed-stage venture fund that has a strong history of investing in entrepreneurs of color. Tech Square Labs finds companies in early development and provides them with the capital and the mentorship that they need to succeed. Today, Paul talks to us about how his success as an entrepreneur has impacted his lens on investing, the importance of seeking the best talent from diverse backgrounds, and what he thinks the investment landscape will look like in the near future.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Welcome back for Season 3 of Access & Opportunity. This season, we're exploring how influential investors from across various pools of capital are helping women and multicultural-led businesses to gain access to capital. In this first episode of the season, we sit down with Jenny Abramson, the founder and managing partner of Rethink Impact, a venture capital firm that invests in female leaders who are using technology to solve the world's biggest problems. Jenny and her partners launched Rethink in 2015 specifically to help women entrepreneurs and other diverse company founders obtain equitable access to capital.Jenny offers us strategic advice on how we can work to increase the number of women and people of color receiving investment capital. We also consider how recent changes in the funding landscape have opened up opportunities and where additional improvements can be made to even out the distribution of capital to women and multicultural entrepreneurs.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Welcome back to Access & Opportunity! We are excited to be back for another season to talk about the extraordinary commercial opportunity that exists when investing in women and multicultural-led businesses. For our third season, we are exploring how influential investors from across various pools of capital are bridging the gap to ensure women and multicultural-led businesses have access to the capital they need to grow. For our listeners who may not be as familiar with the investing landscape, this episode will highlight and give some context for a few of the terms that you’ll hear this season. For those of you who are already well versed, feel free to jump ahead and start the season!The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2019 Morgan Stanley & Co. LLC, Members SIPC.

Welcome back for Season 3 of Access & Opportunity! This season Carla and her slate of incredible guests explore how influential investors from across various pools of capital, including private equity and venture capital, are working to provide women and multicultural-led businesses with the capital they need to grow and expand. Episode 1 Launching June 26th!

“I’ve always been a voracious learner,” says James Rhee, Chairman and CEO of Ashley Stewart and the Founder of FirePine Group. James Rhee may be a surprising CEO of a company whose core clientele are plus-sized women of color, but Rhee sees his mother and a greater humanity in the Ashley Stewart brand. As a child of Korean immigrant parents, Rhee attributes much of his success to his drive to evolve, transform, and adapt. It’s also how he developed his career from high school teacher to lawyer to institutional investor to successful corporate CEO. These experiences may seem unconnected, but for Rhee, his path has helped him see potential where others have not. When Ashley Stewart was twice near bankruptcy, Rhee saw an opportunity and a responsibility where others did not. Within a few years, the struggling plus-size women’s retail company has earned a powerful voice in retail, and made inroads into technology and media. He attributes the accomplishment not just to strategy or marketing, but to something far more valuable: math and kindness. Listening and empathy, and ultimately advocacy, he says, is how you lead and lift others along. But that’s just the beginning. For Rhee, entrepreneurship isn’t about making money. “I am an entrepreneur in life,” says Rhee. In this episode of Access & Opportunity, Carla Harris speaks to Rhee about how he transforms businesses and people, the intersection between social good and commercial success, and most importantly, how entrepreneurship is really a frame of mind. DRAFT DISCLAIMER TEXT ONLYThe guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

Walker & Company’s CEO Tristan knows a thing or two about making the cut. Born in South Jamaica, Queens, Walker rose through the ranks, achieving success at influential startups like Foursquare and Twitter, and companies like Andreessen Horowitz and The Boston Consulting Group. He’s also made top lists such as USA Today’s Person of the Year in 2014 and Fortune Magazine's 40 Under 40 in 2017. But it wasn’t always this way. “The minute I started hearing ‘no’ I knew I was onto something very special,” says Walker. At first, investors balked at his Bevel Shave System, which uses a single safety blade razor to give people with coarse or curly hair a flawless shave. Yet, he knew his innovative product was going to change lives because Bevel changed the lives of other people of color around him. Once celebrities and investors such as Magic Johnson and John Legend saw his massive potential, Walker grew his company to new heights and his product now reaches thousands of people across the country. In this episode of Access & Opportunity, Carla Harris speaks to Walker about his path to success and how his technology is transforming the beauty and care industry  DRAFT DISCLAIMER TEXT ONLYThe guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

“We have to think about how to move forward and how to create a better future for food,” says Julia Collins, co-founder of Zume, a technology-enabled food company with a mission to make healthy food fast and accessible.Founded in May 2016, Zume grew from a workforce of three people to over 150. In that time, Collins has closed on nearly half a billion dollars of investment capital, a true feat for a multicultural founder. This isn’t the first time Julia has launched an incredible business, and it won’t be her last. After a career in hospitality, from Danny Meyers Union Square Hospitality Group to Murray’s Cheese, Julia went out on her own to start Mexicue and Zume. Her strategy? Deliver healthy, delicious food faster than anyone else. In this episode of Access & Opportunity, Carla Harris talks with Collins about how she’s disrupting the food and restaurant industry. Whether by considering how to solve world hunger or how to leverage automation to improve the quality of human lives, Julia will teach us how she used her experience to help make change. The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

After selling her first company at the age of 27, Rose Wang went on to found four other companies, pioneering ideas in technology and government. By 2013, she was one of Fortune Magazine’s ‘Most Powerful Women Entrepreneurs.’ Today, she’s the founder and strategic advisor of The Binary Group and a thought leader, paving the way in Washington D.C.’s small business and government markets. She sits down with Carla Harris on this episode of Access and Opportunity.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

Nely Galan is the definition of self-made. She began her career selling Avon to her friends at age 13 and became the first Latina president of entertainment for the television network Telemundo. She's also an Emmy Award winning producer of over 700 episodes of television in Spanish and English, including the Fox hit reality series The Swan. On top of her TV successes, she's a real estate powerhouse, a Doctor of Clinical Psychology, a serial entrepreneur and a New York Times best-selling author.In this episode of Access and Opportunity, Carla Harris sits down with Ms. Galan to discuss how she made a name for herself in media among industry titans and became a media mogul in her own right, and where she learned her most valuable lessons including how to find your niche in the business world.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

“If you connect the right people with the dollars, great things can happen.” Neville Rhone, Co-Founder and Managing Partner of Arc Capital Partners, talks about seeing beyond inherent bias while assessing investment decisions. His tip for other entrepreneurs: put in the time to learn the market and build relationships on the ground.Rhone is the first guest for the second season of the Access & Opportunity podcast with Carla Harris. In season one, we spoke with entrepreneurs, investors, and developers about how and why multicultural and women-owned businesses are overlooked as viable investment opportunities. In this new season, Carla is shifting the spotlight to focus on entrepreneurs. Rhone takes us through his journey to co-founding Arc Capital Partners and what he’s doing to create opportunity in diverse neighborhoods today.Back with playbook points and engaging stories, Carla’s guests in season two share their experiences and advice on how to connect capital and communities. For Neville Rhone the question has been, how does an investor identify untapped potential in the world of real estate, especially in demographically diverse areas? Leading the charge at Arc, Rhone and his partner focus on investing in undervalued and underutilized properties to revitalize diverse neighborhoods. From downtown Austin, Texas, to Chapman Plaza in Koreatown, Los Angeles, Rhone shares his experience transitioning into entrepreneurship and why urban communities and inclusive investments are the future of real estate.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC and Morgan Stanley Smith Barney LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

“Most people in the Silicon Valley tech ecosystem… believe that institutions are meritocracies,” says Freada Kapor Klein, a founding partner of Kapor Capital. “If you believe that self-serving nonsense then you believe that if there's no diversity in your circles, it's because whoever's outside isn't good enough, and it's an incredibly dangerous and inaccurate belief system.” In the season 1 finale of the Access & Opportunity podcast, Carla Harris talks to Kapor Klein about how her Oakland-based venture capital firm, which she co-founded with her husband, the computer visionary Mitchell Kapor, is breaking down the investment barriers for startups run by women and multicultural entrepreneurs. To date, 56% of Kapor Capital’s investments have gone to startups with a founder who is a woman or a person of color from an underrepresented background. “We’re often the first money in, and our investment has signaling value—that we believe in this entrepreneur, in this business model, and we’re going to help them succeed,” says Kapor Klein.Taking it a step further, Kapor Capital has also invested in startups with a social justice angle that look to help underserved communities. One such venture—Pigeonly—helps families find affordable ways to keep in touch with incarcerated relatives. It’s all part of Kapor Klein’s evolving approach “to both identify leaks in the pipeline and to plug them.” The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC. 

“If you want to improve your communities, you improve conditions for women,” says Theia Smith, founding executive director of the City of Atlanta Women's Entrepreneurship Initiative, which provides office space, mentorship, educational resources and access to capital to start-up companies owned by women. The initiative, begun in May 2016, graduated its first class of entrepreneurs in 2017 and now hosts a new cohort of 15 women. Over fifteen months, they will work together in the Flatiron Building in downtown Atlanta, growing their businesses while they learn from one another and outside experts. “Isolation is the enemy of entrepreneurs,” notes Smith, who herself is a recent graduate of Leadership Atlanta, a nine-month executive-level training and development program. In this episode of Access & Opportunity, Carla Harris talks with Smith about the model that the Atlanta Women’s Entrepreneurship Initiative has established for empowering women-owned businesses and how that model could be replicated in other cities. A key element of the Atlanta program is its diversity: the women in the incubator are as racially and socioeconomically diverse as the city where they live, and they range in age from their early 20s to late 50s. “We know the talent is equal,” says Smith. “It's the opportunities that are not.”The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

The Super Bowl, the NCAA Final Four, concerts by Taylor Swift, Jay Z and Beyonce — the roster of events past and future at the new U.S. Bank Stadium makes it far more than a home-field advantage for the Minnesota Vikings.But fans who flock there probably don’t know that the stadium, which opened in 2016, was the largest public-private construction project in Minnesota’s history. Nor do they know that Kevin Warren, the Chief Operating Officer of the Minnesota Vikings, led the effort which set important precedent for how major public works projects can be completed both on time and on budget. For Warren, beyond all the headliners, the stadium has proven transformative for the local community, where offices, hotels, apartment buildings, restaurants and retail have all sprung up around the complex — bringing jobs and widespread economic gains. “I try to create opportunities that are one-plus-one-equals-eighty-five,” says Warren, explaining that he believes his role at the Vikings is to act as a “change agent.”In this episode of Access & Opportunity, Carla Harris talks with Warren about the role that the U.S. Bank Stadium project has played in bringing an influx of jobs to the Minneapolis/St. Paul area and how the affiliated Viking's Tech Accelerator is committed to giving young entrepreneurs opportunities to learn and grow.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC. 

“I want everybody to have an opportunity to sit at the economic table,” says Marc Morial, President and Chief Executive Officer of the National Urban League, the largest and oldest civil rights organization in the country. Morial, who previously served as Mayor of New Orleans, notes that while entrepreneurs from underrepresented groups have boundless talent and drive, they don’t always have access to the right connections to open doors.Studies by the Department of Commerce show that women- and minority-owned businesses in the U.S. have growth rates that beat the Standard & Poor’s 500, the general benchmark of the American market. So why are investors so tentative to finance them?In this episode of Access & Opportunity, Carla Harris talks with Morial about common misconceptions around the risks of investing in women and multiculturally-owned businesses, and some of the hurdles they face as a result. In discussing how the National Urban League — together with partners like the National Development Council and Morgan Stanley — is breaking down the barriers of access to capital and helping fund incredible entrepreneurs, Morial sheds light on some of the easy fixes that governments, investors and nonprofits can make to open up access to all. The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC

Urban development projects revive communities by bringing an influx of new jobs to areas in need, supporting crucial infrastructure projects and establishing a sense of community. But these remarkable developments take years to get off the ground and face significant logistical hurdles. Is there a solution to overcoming the perceived costs and risks of taking on such projects?In this episode of Access & Opportunity, Carla Harris talks with Hope Knight, President & CEO of the Greater Jamaica Development Corporation about how strategic partnerships can turn dream urban development projects into reality. Strategic partnerships bring public, private and nonprofit organizations together to promote change and to diminish the burdens traditionally associated with such projects. Hope walks us through the key steps of a successful strategic partnership in an urban and economic development project and shows us how these partnerships help communities, investors and entrepreneurs alike. The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast.This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

The path of a multicultural entrepreneur can be winding and frustrating, filled with challenges and barriers. How do you break away from the pack, distinguish your company, and get noticed by investors? From potions in Liberia and Sierra Leone, to soaps on the corner of 125th Street in Harlem, to beauty products in every name-brand store, Sundial Brands may have the answer.In the inaugural episode of Access & Opportunity, Carla Harris talks with Richelieu Dennis, the co-founder and CEO of Sundial, about how he turned his grandmother’s traditional health and beauty recipes into a small community that grew into a multimillion-dollar beauty brand. Richelieu shares crucial advice for young entrepreneurs and discusses how he and Sundial are committed to giving back to communities by creating funding opportunities for, and partnerships with, women and multiculturally owned businesses that need it most.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast. This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC.

Why are multicultural- and female-owned businesses overlooked as good investment opportunities? Join Carla Harris, author, singer and 30-year veteran of Wall Street, as she and her guests—entrepreneurs, investors and activists—explore how they’re connecting capital and communities.The guest speakers are neither employees nor affiliated with Morgan Stanley & Co. LLC. (“Morgan Stanley”). The views and opinions expressed herein do not necessarily reflect those of Morgan Stanley. The information and figures contained herein has been obtained from sources outside of Morgan Stanley and Morgan Stanley makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of Morgan Stanley. Morgan Stanley is not responsible for the information or data contained in this podcast. This podcast does not provide individually tailored investment advice and is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it.© 2018 Morgan Stanley & Co. LLC, Members SIPC.