Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe Log In

Oakland Black Business Fund launches with COVID relief funding

ImpactAlpha, September 2 – Oakland Black Business Fund, a new nonprofit investment fund, aims to help Black-owned businesses weather and recover from the COVID economic storm. Its broader vision is to seed economic opportunity and wealth creation for Oakland’s Black residents through business advice, grants, investment and real estate.

OBBF has raised $150,000 to start cutting relief checks and is looking to raise and disburse $10 million. “We’re especially focused on funding brick-and-mortar businesses, which anchor the Black community culturally and economically and establish a sense of place for Black communities,” said co-founder Elisse Douglass.

OBBF was founded in June by Douglass and fellow real estate professional Trevor Parham, amid protests over the killing of George Floyd in Minneapolis.

“We saw a lot of businesses were being hit multiple times, with protests about racial justice where the businesses were getting their windows broken, with the pandemic that was shutting them down, and the general market conditions,” Parham told VentureBeat.

It took only 10 days for OBBF to crowdfund its first $100,000.

OBBF’s partners include the City of Oakland, the Alliance for Community Development, commercial real estate owner and manager Oakstop, the Bay Area Organization of Black-Owned Businesses, Black Cultural Zone, Lyft and Clorox, which is headquartered in the city.

You might also like...