Black Opportunity Fund: Grassroots Funding with Long-Term Impact

How is Black Opportunity Fund (BOF) different than other initiatives that have emerged recently?

Our group is looking to establish a fund that’s long term and multi-year. The collective goal is to invest in Black communities across Canada at all levels, building from the grassroots and moving and empowering upwards to the top. We want to fundamentally change how philanthropy and investment interact with the Black community.

We’re proposing a long-term structural solution to combat racism — not a one-off remedy. We are establishing a fund that’s long-term and uses multi-year strategies to address the complex problems underlying issues, and will work in concert with organizations and businesses in the Black community to break down systemic barriers. This is meant to address the discounting that happens to marginalized communities when it comes to existing funding structures.

When you say the funds will be accessed by Black communities across Canada, what kind of organizations do you want to reach?

We’ve been consulting with Black community organizations and economic development organizations across Canada to further understand their priorities. We anticipate a focus on a number of areas including health, education, and social justice.

How are you partnering with others in the Black community and elsewhere?

We want to make their priorities our priorities and to help elevate and amplify their messages. At BOF, we have the expertise to provide the support that’s needed. Ensuring that financial resources are in place and accessible is also key.

We’ve been meeting with various organizations across the country as we build a national coalition of Black Leaders. These Leaders will ensure that the organizations and priorities that matter in their regions are the recipients of our collective financial and social capital.