Revolve Fund aims to address systemic barriers that disproportionately prevent businesses and nonprofits owned and managed by people of color from gaining capital access. Black entrepreneurs are almost three times more likely than white entrepreneurs to have been negatively impacted by access to capital. Latino-owned businesses are more likely to experience funding shortfalls than white-owned businesses. Black-led nonprofit organizations' revenues are 45% smaller than those of the white-led organizations in the same cohort. The unrestricted net assets of those black-led organizations are 91% smaller than the white-led organizations.*
It is not simply a matter of throwing more money to this issue as the aforementioned statistics and past efforts have demonstrated. Philanthropic and impact investing strategies often are not flexible or intentional enough to mitigate the effects of economic and racial discrimination, lower household wealth, lack of industry networks, and higher costs of early-stage investing.
Revolve Fund is different.
We have brought together experts from different disciplines, including entrepreneurship, philanthropy, venture capital, banking, and impact investing, to work on intentional funding strategies to address these barriers. Revolve eliminates or reduces the barriers of capital equity requirements, lower availability of friends and family funding, and lack of industry knowledge.
Through the power of collective philanthropy, Revolve provides the catalytic funding and expert partnership critical for success.
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*Sources: https://www.cbcfinc.org/wp-content/uploads/2019/05/CPAR-Report-Black-Entrepreneurship-in-America.pdf
https://hbr.org/2020/06/the-problem-with-color-blind-philanthropy
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