Bank of America Corp (NYSE:BAC) said on Thursday it has committed more than $500 million in equity investments to funds led by minority and women entrepreneurs, more than doubling from its initial commitment of $200 million.  

The bank has committed equity to more than 150 funds, which to date have invested in over 1,000 companies that span 40 states, it said. 

1,500 diverse entrepreneurs lead these companies and employ over 21,000 people.