Founded in July 2007 with a pledge fund from limited partners, including, the Steward Family, Chi Rho is a "traditional" private equity organization focused on making direct investments in Consumer Packaged Goods, Technology, and Media & Entertainment.

The Steward Family patriarch, David Steward, Sr., owns the largest African American business in the United States, World Wide Technology, Inc. based in St. Louis, Missouri. Chi Rho and its subsidiaries are also certified M.B.E.s (Minority Business Enterprises) through the Saint Louis Minority Supplier Development Council and the National Minority Supplier Development Council.