This paper empirically re(dis)covers a moment of conjuncture within Leicester when an opportunity opened up through multicultural/anti-racist education for schools and colleges to develop their 'multicultural capital'. It does this through the thematic analysis of the key proximate document "Report of the Working Party on Multicultural Education" as well as drawing on interview data provided by two important agents who helped to implement Leicester's/Leicestershire's moment of multicultural education. This moment generated a symbolic, ideational, and conceptual shift within Leicester's education provision toward a more culturally inclusive position that began to recognise the cultural capital of non-white students. However, this moment was to be lost in the 'neoliberal epoch'. It is argued in this paper that neoliberal education policy/practice has become an enabling mechanism for renascent colonial ideology. By re(dis)covering this vision for the official recognition of non-white cultural capital, this paper demonstrates the possibilities for alternative directions within Leicester's schools and colleges that can challenge neoliberal and colonial conceptions of education. It suggests that there are still spaces and structures that can be re(dis)covered in order for this vision to be enabled.