In this episode of 'Financial Freestyle with Ross Mac,' Lee Moulton, the founder of The Mansa Fund, joins the conversation. Moulton reflects on his early...
, joins the conversation. Moulton reflects on his early career on Wall Street, where he worked under the mentorship of former Goldman Sachs CEO Lloyd Blankfein during the 2008 financial crisis . He shares the invaluable lessons he learned during his time at Goldman Sachs , including the importance of leadership, the commitment required to achieve true success, and the significance of collaboration.
So we're working on a, on a on businesses where if Lloyd doesn't close that deal or if Gary Cohn doesn't close that deal that could negatively impact our quarterly revenue.Um Goldman Sachs was like a family.So, uh Goldman I think taught me what excellence looks like up close, taught me what black excellence looked like up close because we had some amazing, amazing African American uh uh executives there.
So let's actually talk about what you learn in investment banking that actually propelled you to want to start your own investment firm.So number one thing is all these banks, these investment banks, we basically provide capital to corporations just like you, you know, our moms or our dads can go to Bank of America and get a loan to buy a house and buy a car.It's the same kind of ethos, but it's all about providing capital, connecting capital with opportunity.
When I uh deploy capital, you gotta be able to look out 10 years and see exactly what, you know, where the trends are gonna go.So what happened was during the pandemic? So, um, that hit me, uh, you know, I had my, you know, cushy corporate job and I was thinking about all the people I grew up with the mom and pop shop owners, you know, struggling and, uh, I was like, you know what I wanna do something about this.
Let's go find a capital partner and we found a, a company called for O and for O is interesting for O was actually spun out of Citigroup.And for those of you who don't know what A CD F I is, it's a community development, financial institution to get federal funds to give out to folks who are in um, underserved neighborhoods and jurisdictions.
And my goal is to eventually turn the amounts of fund into a full financial services house where we're providing uh credit cards, we're providing um savings accounts, we're providing bank accounts even one day providing your ability to kind of trade equities on our platform all around black empowerment, black business empowerment, making sure we are uniquely addressing the needs of black entrepreneurs.
If your business is really generating cash and is doing ok. You should be able to service those loans.I'm telling everyone, explore debt, explore debt right now. I don't wanna hear about something that hasn't grown over the last two or three years or something that's declining.So, and I wanna bet into a rise that is gonna be sustained over a over a period of time.Well, guess what?
So what I like is I like pre seed and seed investments where you have a little bit more leverage of capital, you have less, you know, cooks in the kitchen on the cap table where you can come in and say, look, I'm, I'm, I wanna get a good sizable chunk of this company for this check and I, I wanna have the revenues and the valuation be realistic.
And when I call it unicorn people, I mean, the company is currently valued over a billion dollars, right?So I I wanted to clarify, I I didn't even invest through my fund into Uncle NRI.So 11 of the things that I think is important is you can invest your time or your money, Uncle Neri is investing my time.And I think one of the things that I always tell people is trust your taste in people.
Now you're really talking about it and it's run by um all female leadership team and you got um the fact that it's won every whiskey award, best American whiskey award for the last four years.You got relevancy females in a male dominated industry who are killing it and it has history to it.
They gave us the, the ham hocks and, and the Chitlins and we had to figure we had to make Thanksgiving dinner off that we've always had to figure it out.
Lee Moulton The Mansa Fund Mansa Fund 2008 Financial Crisis Ross Mac Importance Of Leadership Lloyd Blankfein Moulton
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