Asian American business and community leaders, including billionaire Yahoo co-founder Jerry Yang, have quietly lined up what they aim to be the largest private investment in Asian American and Pacific Islander causes in U.S. history following a rise in anti-Asian bigotry.
The Asian American Foundation, which is set to announce its initial fundraising commitments on Monday, is among dozens of AAPI groups seeking to harness a flood of resources that has accelerated since a gunman killed eight people, including six women of Asian descent, at Atlanta-area day spas in March.
The foundation will fill in funding gaps for a wide array of AAPI organizations that have been under-financed for years. Part of its role will be to serve as the AAPI counterpart to other national civil rights bulwarks, such as the Anti-Defamation League or the National Association for the Advancement of Colored People, which advocate for the Jewish and Black communities, respectively.
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