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A philanthropic initiative, Revolve Fund offers interest-free, recoverable capital to support Black/African-American, Latinx, Native American and other people of color-led businesses, nonprofits and financial intermediaries. (File photo)
Revolve Fund generates $10.9M in additional capital access for people of color-led businesses
With more than $2 million in philanthropic dollars raised since 2020, Revolve Fund has helped entrepreneurs of color secure $10.9 million in additional capital for their businesses and nonprofits through direct leverage, co-investment, referrals, and strategic guidance.
Founded and managed by James Wahls, Revolve assists entrepreneurs of color and other organizations committed to supporting entrepreneurs of color that have been historically underfunded by traditional financial systems.
Initially piloting strategies in Baltimore and Detroit, Revolve Fund has provided grant funding to entrepreneurs nationally. Moreover, with a grant from the Surdna Foundation, Revolve is further expanding by developing and implementing an U.S. Southern pilot strategy in partnership with other similarly committed organizations, funders, and investors.
Revolve Fund offers recoverable grants and strategic business support directly to organizations or collaborates with community development financial institutions, nonprofits, venture funds and business incubators and accelerators. This approach is designed to foster capital access without creating financial harm while maximizing Revolve’s industry expertise and grantees’ sourcing, underwriting and portfolio-monitoring capabilities.
Revolve Fund will continue its capital fundraising over the next 18 to 36 months. Revolve’s past and current funders include the Annie E. Casey Foundation, JPMorgan Chase, Open Society Institute – Baltimore, PNC Bank and the Rockefeller Foundation.
