Case Study: Olamina Fund
Black and Native communities in the United States have experienced decades of disinvestment and wealth extraction. It has disadvantaged residents in everything from housing to health to jobs, often creating a multi-generational gap in opportunity.
Olamina Fund was launched by the Candide Group in 2019 to directly address concerns about capital access in underserved communities of color. The $40 million fund lends to mission-driven financial organizations, particularly community development financial institutions (CDFIs), and prioritizes support for organizations led by and serving people of color.
With initial support from ImpactAssets and the Pritzker family, Olamina is focused on expanding income and wealth for people that have not had an equal opportunity to do so. It bridges the gap between impact investors with an increased interest in racial and gender equity and CDFIs that invest in asset-building, jobs and opportunities for self-determination in low-income communities.
Olamina is managed by Candide Group, an Oakland-based registered investment advisor that works with families, foundations, and other investors interested in deploying capital for positive social and environmental impact. Candide facilitates the flow of capital from wealth holders to BIPOC communities and climate solutions—leveraging finance as a tool of empowerment rather than a weapon of extraction. It has directed in excess of $215 million to more than 110 companies and funds.
Fund Administration Services
Broadstreet provides administrative services to impact funds like Olamina, drawing on our two decades of experience as a fund manager focused on economic development, racial and gender equity, small business growth and community revitalization.