RUNWAY, a Black-women led financial innovation firm, launched its first in-house integrated capital investment fund.
The RUNWAY ROOTED Fund is committed to investing $50 million into businesses, cooperatives, and grassroots organizations that are building wealth in Black communities across select regions in the United States.
A New Paradigm in Reparative Finance
The RUNWAY ROOTED Fund represents a significant shift from traditional investment models.
It serves as a vessel of restitution and revitalization, aiming to address the systemic issues that have long fueled the racial wealth gap.
“For too long, the racial wealth gap has persisted, fueled by systemic injustices that trace back to our nation’s dark history of enslavement and discriminatory policies,” said Jessica Norwood, CEO and founder of RUNWAY in a press release in May.
“The RUNWAY ROOTED Fund is not just an investment opportunity; it’s a beacon of hope and a clarion call for change. This is the path forward.”
With a projection that the median wealth of Black Americans could fall to zero by 2053 if current trends continue, the urgency for reparative financial solutions becomes clear.
The RUNWAY ROOTED Fund aims to combat this through collaborative investments from values-aligned investors and philanthropic funders, including BUILDERS, The No Regrets Initiative, and The Kataly Foundation.
Transformative Impact on Black Communities
RUNWAY’s approach unifies business owners, investors, community partners, and policymakers to build transformative economic solutions.
Since its founding in 2017, RUNWAY has supported the distribution of $3.3 million in holistic, repair-centered funding to over 50 businesses in California and Massachusetts, which have since generated $15 million in revenue.
Initiatives such as The Friends & Family Fund and The Real People’s Fund exemplify financial innovation through non-extractive terms and trust-based underwriting.
“We are in the business of transforming the culture, practices, and policies of financial institutions, investors, and lenders to cultivate equitable outcomes for Black communities across the United States,” said Nina Robinson, RUNWAY National Fund Director.
“Our holistic approach inspires self-determination and builds community wealth and power in Black communities.”
Feature Image Credit: RUNWAY
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