The Black Farmer Fund Is Raising $20M To Invest In Black-Owned Food Businesses
The Black Farmer Fund (BFF) is raising $20 million for its second fund, BFF Fund 2.0, aimed at strengthening the Black food system across the Northeast.
BFF is a community-driven investment fund that supports Black agricultural and food businesses to build a more equitable food system.
This milestone will provide financial support to Black-owned agricultural and food businesses, with $2 million of the integrated capital fund already invested in four innovative enterprises.
The fund is part of BFF’s mission to create a sustainable, equitable food system by offering patient, low-interest loans and grants to underserved communities.
$2M Invested in First 4 Food Businesses
BFF Fund 2.0 has made its first round of investments, distributing $2 million across four pioneering Black-owned businesses: New England Sweetwater Farm and Distillery, Nourrir, Edenesque, and Global Village Foods.
These businesses have been selected for their commitment to sustainability, local sourcing, and cultural preservation.
- New England Sweetwater Farm and Distillery (New Hampshire): Blending farming with artisanal distilling, this company uses locally sourced ingredients to produce handcrafted spirits.
- Nourrir (New York City): A beverage company specializing in West African sparkling drinks, made from locally sourced ingredients that reflect the rich flavors of Africa and the Caribbean.
- Edenesque (Hudson Valley): A producer of plant-based milk alternatives, Edenesque is focused on sustainable practices and supporting regional agriculture.
- Global Village Foods (Vermont): Known for its allergen-free, ready-to-eat African meals, Global Village Foods celebrates African culinary traditions through its small-batch production.
Supporting Economic Justice in Agriculture
BFF’s unique approach challenges traditional lending models by allowing experienced Black farmers and food entrepreneurs to make funding decisions.
This “for-us-by-us” model ensures that the Black farming community plays a central role in shaping the future of its economic landscape.
“These businesses represent our mission to promote sustainable agriculture, strengthen local economies, and create a just food system,” said Olivia Watkins, Co-Executive Director of Black Farmer Fund.
Update: This article was amended on September 26, 2024 to to clarify that the BFF Fund 2.0 are still actively fundraising to reach their $20 million goal and have currently raised $13 million.
Feature Image Credit: Black Farmer Fund
