For Immediate Release
BALTIMORE – Since it launched in 2020 as a pilot, the Revolve Fund has raised $1.9 million to help Black, Latinx, Indigenous and other people of color increase access to capital. Founded and managed by James Wahls, the Revolve Fund is a philanthropic initiative that assists persons of color seeking to open, grow or scale their business or nonprofit. Wahls brings 15 years of experience in the philanthropic, impact investing and legal sectors.
“For entrepreneurs and nonprofit leaders of color, systemic barriers disproportionately prevent their businesses and nonprofits from equitable capital access,” said James Wahls, founder and managing director for Revolve Fund, and senior vice president of programs and initiatives at Mission Investors Exchange. “Revolve intentionally deploys ‘friends and family-like’ funding to increase capital access, a critical factor for success.”
Revolve offers interest-free, recoverable capital to support Black/African American, Latinx, Indigenous and other people of color-led businesses, nonprofits, and financial intermediaries. To date, the fund has deployed more than $560,000.
READ MORE: https://www.citybiz.co/article/469467/revolve-fund-raises-1-9-million-to-help-businesses-led-by-people-of-color/