(Source Blackstar):
NEW YORK, NEW YORK — Black Farmer Fund (BFF) has reached a major fundraising milestone by having successfully raised $11M of our $20M goal for BFF Fund 2.0.
BFF Fund 2.0 builds off of our Pilot Fund and is a $20M integrated capital fund that provides Black agricultural and food businesses in the Northeast with grants, patient debt, and technical assistance to optimize their growth potential and social impact. This fundraising achievement marks a remarkable step in reshaping the investment landscape to prioritize racial and economic justice within the food system.
The support from investors who share our vision for a more equitable and sustainable food ecosystem has been overwhelming. As we continue our journey to reach our $20M fundraising target, we are grateful for the commitment of partners who recognize the importance of our mission.
“Chordata Capital is thrilled to be supporting our clients in investing over $2.5M in Philanthropic and Reparative Notes in Black Farmer Fund. Chordata’s core commitment is investing in racial and economic justice, and our community is thrilled to support this Black-led democratically stewarded loan fund.” – Kate Poole and Tiffany Brown, Chordata Capital
“The Kataly Foundation is honored to support the work of the Black Farmer Fund. They have done a tremendous job of creating community governance and decision-making structures not just for their loan fund, but for the entire organization. BFF moves with integrity and is consistently accountable to the needs of the communities they serve. We are proud to have approved a loan into their Philanthropic Note, as well as ongoing grant support for both the farmers and the organization. This work is deserving of many more resources.” – Lynne Hoey and Zaineb Mohammed, Kataly Foundation
Black Farmer Fund’s “for-us-by-us” approach challenges traditional lending practices by providing patient, non-extractive capital and empowering experienced Black farmers and food systems entrepreneurs to make funding decisions. This unique model ensures that the communities served have a direct voice in shaping their economic future.
“We are humbled by the support from investors aligned with our commitment to racial and economic justice. With $11 million secured, we are well on our way to achieving our $20 million goal, this significant milestone reaffirms our belief that when we empower Black communities, we foster a stronger, more inclusive food system that benefits us all.” – Olivia Watkins, Co-Founder of Black Farmer Fund.
Black Farmer Fund’s investment efforts are making a tangible impact. Our initial pilot phase saw our experienced team allocate $643,000 to eight thriving food businesses across New York State. These investments drive local economic growth and promote regional food sovereignty, with 95% of goods and services sold locally, generating $610,000 in revenue.
For more information about Black Farmer Fund, its mission, and investment opportunities, please visit our website at Blackfarmerfund.org. To inquire about investment options, please contact Olivia Watkins at invest@Blackfarmerfund.com
This is not an offer. Offers are made only through the offering memorandum. In certain states, this offering is only open to accredited investors. Contact us at invest@Blackfarmerfund.com to know if you’re in one of those states.
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