It was fantastic to host dozens of investors from the East Chop Capital (ECC) network at Reunion Resort in Florida for our annual Investor Summit. This year’s summit brought together over 50 investors from different backgrounds to advance Black businesses and continue driving wealth in the Black community.

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Over two days, our network was treated to exceptional appearances and keynotes from speakers including Uncle Nearest Founder and CEO Fawn Weaver, President and CEO of Carver Financial Corporation Robert E. James II, CEO of Liberty Bank Alden J. McDonald Jr., and retired NBA player turned businessman Arron Afflalo, among many others.

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The summit also featured updates on ECC’s various investments, including a $500 million, 10-year real estate development pipeline and discussions on professional sports, Broadway investing, and technology portfolio companies.

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Watch a short video recap here, and read a few takeaways from this year’s summit below:

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1. Andy Karl, General Manager of Reunion Resort, highlighted the 2,300-acre property with various homes and amenities, the unique guest experience, and investment opportunities at Reunion, including the newest home in the top 10 of the resort. He also highlighted the Orlando area’s 100,000 vacation rentals, signature golf courses, international visitor potential, and their efforts to revive and grow the resort since 2018.
2. A Black Bank Panel signaled the importance of Black-owned institutions like Carver State Bank and Liberty Bank supporting Black endeavors and wealth creation. Carver State Bank, founded in 1947, has grown significantly, tripling its assets to $40 million in the last four years. With over $1 billion in assets, Liberty Bank emphasized its mission-driven approach and partnerships with other minority banks. Both institutions discussed their efforts to increase access to capital, including SBA lending and New Markets Tax Credits. They also stressed the need for support to grow these institutions, the importance of community deposits, and leveraging technology to stay competitive.
3. Edie Waddell, CEO and President of Landmark Custom Builder & Remodeling and ECC investor, pledged a significant financial commitment to Liberty Bank, highlighting a $5 million construction contract and a $400,000 transfer to CDs. She also discussed the challenges of navigating a white male-dominated industry as a Black female, the impact of labor costs, and the strategic decisions in property investments. She highlighted the importance of building strong relationships with contractors and maintaining high standards.
4. Discussing the business of professional sports, Nana Yaw Amponsah (Executive Director, Samaritan Sports & Entertainment Limited), Arron Afflalo (Founder and Chairman, AAG), and Emanuel Tuyishimire (Managing Partner, Elevate Global Sports Group) discussed how to identify and develop soccer talent in Africa and the United States, emphasizing the need for acclimatization periods for African players in new environments. The conversation highlighted the role of private equity (PE) in sports ownership, noting its passive investment role and the importance of real estate opportunities. The trio also emphasized the importance of exposing young players to financial education and opportunities to prevent financial instability later in their careers.
5. Fawn Weaver, Founder and CEO of Uncle Nearest Premium Whiskey, spoke about the company’s journey and strategic moves from being a vineyard tour host to an investor. She credits her success to the effectiveness of marketing campaigns and using personal stories to drive brand engagement. Notably, 75% of cognac consumed in the U.S. is from Black Americans, and Uncle Nearest has acquired a Martell estate vineyard in Cognac, France, and launched a new product, Nearest Green, to capitalize on market shifts. The distillery in Tennessee remains a top-rated tourist attraction, with plans to expand accommodations.
6. Jonathan Moody, CEO of architecture firm Moody Nolan, spoke on the role of architects as catalysts for change, emphasizing the importance of storytelling and addressing perception gaps, particularly in the context of racial wealth disparities. He highlighted statistics showing the underrepresentation of Black architects, with only 2% of the 120,000-130,000 architects in the U.S. identifying as Black.
7. Tré Baker, Managing Director at Techstars, discussed his journey from early crypto trading to startup investing, emphasizing the importance of early-stage investments for Black economic development. He highlighted his first startup investment in 2014 and his first exit in 2020, leading to the launch of the HBCU fund. Tré stressed the need for Black LPs and the potential for high returns in early-stage assets. He also discussed the role of TechStars in Tulsa, OK, the rebuilding of Black Wall Street, the importance of soft skills in founders, and the necessity of lobbying for government contracts to bridge the wealth gap. He advocated for increasing alternative investment allocations and proposed a pension-like structure for reparations.
8. Investors were able to tour our two newest luxury vacation homes before they opened to the public. “The Grove” mansion at Reunion Resort is a nearly 14,000 sq. ft. home with 12 beds and 15 baths, offering amenities like an indoor basketball court, bowling alley, multiple game rooms, a resort-style pool, and more. “The Nautilus,” also in Reunion Resort, is a 6,500 sq. ft. home with nine beds, 10 baths, floor-to-ceiling windows, a large lanai, and a massive sun deck. The Grove is available for booking now!

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We thank our tremendous network for joining together to celebrate an exciting 2024, and we look forward to our 2025 summit!

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