Black Farmer Fund: All About Black Woman Founded Fund Investing $20 Million in Black Farm Businesses

The Black Farmer Fund (BFF) is a community-led investment fund that supports black agricultural and food businesses to build a more equitable food system. Created by Karen Washington and Olivia Watkins, the fund has invested $2 million in the first four black businesses of its BFF 2.0 Fund, a $20 million integrated equity fund that aims to build a strong black food system in North- east.

The businesses include New England Sweetwater Farm and Distillery, Nourrir, Edenesque and Global Village Foods, according to a news release.

New England Sweetwater Farm and Distillery (New Hampshire) combines agriculture with craft distilling. Based in New York City, Nourrir specializes in West African sparkling beverages made with locally sourced ingredients that reflect the rich flavors of Africa and the Caribbean. Edenesque, on the other hand, makes plant-based milk alternatives, and Global Village Foods Global Village Foods brings the authentic flavors of African cuisine to the American market with its line of natural, allergen-free, ready-to-eat products. the tables.

“We are delighted to support these innovative and impactful businesses through the BFF 2.0 Fund. Each of these businesses exemplifies our commitment to supporting sustainable agriculture, strengthening local economies and promoting an equitable food system,” said Watkins, Co-Executive Director of the Black Farmer Fund. “Nourrir, Edenesque, New England Sweetwater Farm and Distillery and Global Village Foods are advancing their respective fields and creating opportunities for black farmers to enter the market.”

The Black Farmer Fund, which recently raised $11 million of its $20 million goal for the BFF 2.0 Fund, said its mission is to drive sustainable change and advance economic justice.

Its “for-us-by-us” approach “challenges traditional lending practices by putting financing decisions in the hands of experienced black farmers and food system entrepreneurs,” it said. “This model ensures that the communities served have a direct voice in shaping their economic future, promoting a more inclusive and equitable food system,” he added.

The fund’s support for the four black businesses above could not have come at a better time.

Over the years, black farmers have faced several challenges, including being denied access to low-interest loans, subsidy payments, grant programs, and other forms of assistance.

The Biden administration recognized this in July 2024 when it announced $2.2 billion in support for thousands of black farmers who have faced systemic discrimination and racism from public and private institutions like the US Department of Agriculture.