Why do black entrepreneurs flock to Martha’s vineyards every August?

Martha’s vineyards have long been a summer destination for black families, but August in the Massachusetts beach community is becoming an important hub for black entrepreneurs, investors and financial companies as well.

Calvin Batz, founder of East Chop Capital, a private equity company named after the island’s neighbourhood, said: “We had great success raising funds there. We also spoke with portfolio companies. We’ve done very well with Deal Flow.”

A wide range of companies including Disney, Cisco, Goldman Sachs, McDonald’s, Google, FordMcKinsey and CNBC Parent Company Comcast This month we host or sponsor a business-centric event at our vineyards.

The Black Economic Alliance hosts an event called “The Gathering” that brings together corporate leaders to discuss ways to increase opportunities for Black employees and businesses.

“Vineyards are a place to capture audiences who want to have an intellectual and financial conversation about ways to enhance black culture,” said Melissa Bradley, general partner at the Bea Venture Fund.

Martha’s vineyards became a popular holiday destination for black families over a century ago, with the opening of the first hotel to allow Black visitors Shearer Cottage in 1912.

Since then, black families have purchased the home and created a community centered around the towns of Oak Bluffs and Inkwell Beach.

This year, clothing brand Ralph Lauren released the Oak Bluffs collection to recognize and respect the history and fame of the island hosting visitors such as Michelle, Barack Obama, Oprah Winfrey and Spike Lee.

Ebony Magazine CEO Eden Bridgeman Sklenar hosted an event with the founders of Uncle Uncle, a black-owned spirit brand, and said he views Vinard as a way to bring the magazine’s history and future for its target audience.

“For Ebony, being present in the vineyard in August is both strategic and personal,” Sklenar said in a statement. “It’s an opportunity to connect with a strong section of our community, deepen meaningful relationships and place brands not only as cultural icons, but as modern business impact, visibility and growth.”

Donae Burston, founder of La Fête Du Rosé, said it is an organic way to leverage the culture of Martha’s vineyard community to grow consumer-based sales that coincides with marketing as a luxury brand.

“To us, it would make much sense to embrace people at Martha’s vineyards,” Burston said. “You can go to Martha’s vineyard and focus on it. [high-net-worth] Individuals around the world who appreciate wine – it is visibility and helps them become evangelists to return home and spread the gospel. ”

For four generations, Erin Goldson and her family spent the summer at Martha’s vineyards. This year, she will launch a new event called the “Vineyard Icon Awards.” Diageo and Esti Lauder. The winners are business and political leaders who help shape August at Martha’s vineyards as a place where culture and commerce meet.

“Over the past five years or so, many businesses have noticed a wealth of successful, successful, driven black professionals who decided to come to the vineyards in August,” Goldson said.

“You can come to the vineyard for rest and relaxation,” she said. “But here, there is a growing legacy every year where black ambitions and aspirations are celebrated in a very unique way.”

Disclosure: Comcast is the parent company of CNBC.