What is the BLK Foundation ?
Our Mission, Philosophy, Market and Sourcing
Mission
BLK Foundation Investment Committee seeks to democratize access to capital for Black entrepreneurs and business owners. We seek to deploy non-dilutive capital and grants to impactful businesses that are improving or developing the Black community.
Philosophy
Black entrepreneurs and business owners are frequently shut out of funding sources, especially in early stage enterprises and in underserved communities. We believe that we can help Black businesses and the Black community through program-related investments and relief funds. We want to invest in and provide supportive ecosystem to Black entrepreneurs across the US.
Program-Related Investments: Investments that are primarily charitable and mission-based in nature. Treated like grants for tax purposes, PRI investors are primarily concerned with furthering their charitable or impactful causes. PRI’s can come in the form of grants / charity.
Target Market and Sourcing
BLK Foundation is looking for highly impactful businesses run by Black entrepreneurs. We are agnostic to the actual end product of the business, as long as it is impactful, but the business must be Black-owned and operated.
Our Investment Criteria
Impact
The business must clearly directly impact an impactful cause (e.g. reducing recidivism rates, increasing child education) to the black community. 501c3’s and non-profits are also accepted. The definition of impact is highly subjective and will require IC deliberation on each business evaluated.
Management
At least one entrepreneur must be of African-American or Black descent. Founders should have expertise/experience relevant to the business’s industry. We are looking for passionate leaders with critical problem solving ability who we can trust.
Business Model and Organization
Business must have less than $1M in capital raised, but have significant annual revenues (likely around >$50,000, but no hard cut off).
We are looking for a well-run business or non-profit organization. This organization should have a track record of success in creating impact, or a unique path to creating impact.
Investment Process
BLK Investment Committee will review businesses on a monthly basis throughout the year. As of 5/23, the BLK IC is focusing on CRF applicants, and is not accepting applications outside of this fund.