The Black Farmer Fund is making a difference for food and agriculture businesses.
BFF, a community-led investment fund for Black-owned agricultural and food businesses, recently announced that it has raised $11 million, per a news release shared with Essence. The accomplishment is part of a larger goal to raise $20 million for the BFF Fund 2.0.
“We are humbled by the support from investors aligned with our commitment to racial and economic justice,” Olivia Watkins, Co-Founder of Black Farmer Fund, said in a statement. “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.”
The fund helps Northeast-based Black-owned food and agricultural businesses with grants and operational support.
BFF was founded in response to racist systems and policies that hinder Black farmers’ success.
“Our ‘for-us-by-us’ approach goes against traditional lending practices by providing patient, non-extractive capital and putting the decisions around who receives funding in the hands of experienced Black farmers and food systems entrepreneurs across the Northeast,” the statement continued. “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.”
This is awesome! Thank you for all of the hard work you do on behalf of African American farmers!