Melvin Lindsey Founding Partner Nile Capital Group

After several successful years in the highly competitive field of global finance and asset allocation, Melvin Lindsey in 2014 founded Nile Capital Group, a private equity firm that provides capital and services to women and minority businesses and to small businesses. “We give them an opportunity to participate in this 100-trillion-dollar business of asset allocation.”

Realizing that most small- or minority-owned businesses are rich with exceptional talent but are challenged in securing additional capital to assist with current demands and continued growth, Nile Capital Group provides a financial bridge that allows businesses to grow. “We believe that if there is talent and skill," says Lindsey, "they should be given the same opportunity as other mainstream firms who’ve had historical relationships but may not have the necessary talent. We wanted to be able to have a capital source for those underserved asset allocators to be able to get that opportunity."

Lindsey’s imprint and leadership in the global financial sector is solid. The respected executive has worked for both national and international investment firms and institutions. “I’ve had the opportunity to work for some of the top mainstream firms. I worked for Lehman Brothers prior to its demise. I worked at Wells Capital Group, which is the investment arm of Wells Fargo Bank. I worked for a Swiss company, Julius Baer, and a company based out of Cape Town, South Africa called Invest Tech, a leading investor in emerging markets, frontier markets and global equity markets.”

Raised in Southern California, Lindsey’s educational background prepared him for the demands and rigors of global finance. “I have the typical education background: an undergrad in economics, and an MBA in finance. I also have a Charter Financial Analyst degree, which is a three-year program that is geared toward our industry if you want to do financial analysis and money management.”

Lindsey acknowledges the importance of education but also credits the ability to develop meaningful and enduring relationships. “Credentials are a part, but having relationships is also a big part of migrating through this industry.”

Lindsey says many of his professional appointments and opportunities came as a result of hard work and enduring relationships. “People saw a little something in me that I had no idea that I had. I don’t think everyone has this opportunity, I feel lucky. Over the years it was somebody that was in a position to make a decision to hire me or to give me those opportunities, and now I want to do the same.”

As African Americans and other small minority business owners explore avenues for securing additional capital, Lindsey emphasizes the importance of relationships with institutions and individuals who control capital. “I think that’s where a lot of businesses are developed and capital is allocated. In order to get capital, you must have relationships with people who control capital. The more of us that are in the business, the more, I think, we can get capital allocation.”

According to investmentnews.com, the investment advice profession has a long way to go in reflecting the diversity of America. In a nation where the populations of African Americans, Hispanics and other people of color are growing, the financial advice industry remains overwhelmingly white.

In 2015, more than 79 percent of the 434,000 financial advisers in the nation were white, even though whites make up only 63 percent of the U.S. population. African Americans, Asians and Hispanics/Latinos make up 20 percent of financial advisers, even though they constitute 36 percent of the population. About 5.7 percent of advisers are Asian, 8.1 percent are African American and 7.1 percent are Hispanic.

Lindsey credits U.S. Congresswoman Maxine Waters for advocacy that ensures African Americans receive the opportunity to participate in the management and allocation of public funds. “I think Maxine Waters did a very good job of trying to democratize the Financial Services business. Waters was on Capitol Hill pounding the table. Public funds are invested on behalf of the pension funds, which represent everyone who’s working in a particular state or sector.

"The people who are managing money should be of color to represent the same constituents that are the beneficiaries. And because of that, Waters did a lot of work trying to help African Americans who have made it into finance get those allocations.”

Lindsey also stresses the importance of teamwork within any organization. “Teamwork is everything. For someone who says, ‘I did it all on my own,' he or she is lying. If you build a great team and you provide transparency for them to provide feedback – and give them a voice – they make you better.”