The Society of Merchant Venturers says it supports the removal of the Edward Colston statue.
It said it "is right" that the statue of the slave trader Edward Colston has been removed from Bristol's city centre.
The statue was pulled down during a Black Lives Matter protest in the city last weekend (Sunday 7 June).
It was then rolled to the harbour before being thrown in the water.
The society, which plays an active role in managing three institutions that bear Colston's name, issued a lengthy statement on Friday evening.
It said that following the Black Lives Matter protest in Bristol on Sunday "the energy for change across our city continues to grow".