I was on a panel recently at the Confluence Philanthropy gathering in Boston. This is an annual gathering of philanthropists that are looking for ways to effectively invest their resources in enterprises making a positive impact in the world.
The panel was called “Getting Impact Capital to the Grassroots.” My co-panelists talked about some incredibly innovative community-led initiatives designed to deploy capital in a way that truly benefits disenfranchised communities.
The Democratizing Capital East Bay (DCEB) project, funded by Solidago Foundation, is an initiative that is working with grassroots community organizations in Oakland, California like Mujeres Unidas y Activas, Asian Pacific Environmental Network, and the Ella Baker Center to create an investment fund whose focus will be decided by these organizations that represent low-income community residents. These groups are being paid to participate in the planning process and are receiving education about investing so that they can make informed decisions. Once the fund is launched, it will be open to investment by any California resident. The minimum investment amount will be low so that the opportunity to invest will be more accessible.
The Massachusetts Solidarity Economy Initiative (MSEI) has an impressive goal: to build a movement capable of transforming dominant capitalism. This initiative, convened by Access Strategies Fund, includes 14 grassroots groups that are led by people of color. Like DCEB, this initiative is investing significant time and resources to simply listen to the people it intends to serve. These listening sessions have resulted in a model for a solidarity economy with the values of love, art, culture, healing, and community at its base. Also like DCEB, the participants are paid for providing their insights and wisdom to the initiative. Their contributions of knowledge capital are seen as just as valuable as financial capital.
Pioneer Valley Grows Investment Fund is farther along than DBEC and MSEI in its development – after years of planning and community outreach, it is open to investment! This is an investment fund, open to both wealthy and non-wealthy investors that invests in building a healthy food economy in the Pioneer Valley of Massachusetts.
It is thrilling to see the proliferation of initiatives all over the country designed to invest in the grassroots local economy!