This summer at the New Impact Fund, we’re spotlighting what’s possible when bold capital is paired with trusted advising, social capital and a shared commitment to self-determination.
At New Impact Fund, we partner with those ready to move their capital with intention. Together, we invest in Black entrepreneurs whose businesses are building generational wealth and community strength. This summer, discover what’s possible when your resources align with your values—and help seed lasting change.
Building Black Wealth, One Job at a Time
J. Benson Construction’s Story of Growth
For Paul Edlund, CEOofJ. Benson Construction, creating jobs is the most fulfilling part of his work, driving a long-lasting impact on families. Since acquiring his company five years ago, Paul has rapidly expanded J. Benson from five carpenters to nearly 45 carpenters, a milestone achieved six months ahead of schedule thanks to New Impact Fund capital. This crucial funding helps relieve the pressure of growth delays by bridging the gap while waiting for project payments.
Many Black-owned businesses like J. Benson face steep barriers to growth—often due to undercapitalization, systemic bias, and lack of access to advising, relationships, and infrastructure that businesses need to grow and thrive. Paul’s experience shows what becomes possible when those barriers are met with the right kind of support.
“At least as it sits today, things are better than they were—but still a lot to do,” Paul says. “It’s a pretty weighty responsibility. I’m not just responsible for myself, but [also for] a growing team that’s got families depending on what we’re doing.”
In line with his commitment to community impact, Paul also partners with Summit Academy to expand pathways into construction careers—especially for women and people of color.
Juneteenth Has Passed. The Fight for Economic Freedom Continues
Juneteenth's Living Legacy: Fueling Black Entrepreneurship
Juneteenth served as a powerful reminder of the long journey toward freedom and the enduring spirit of Black entrepreneurship. While the commemorative day may be behind us, its legacy and the work it inspires are very alive.
We just connected with Tasha Harris, Co-Founder and Co-CEO of Kobi Co., who received capital from Cohort 4, sharing her reflections on how this pivotal day fuels her mission. "Once our ancestors found out we were free, that gave them the ability to create businesses for themselves," Tasha reflected. "And we just want to carry on that tradition and be a beacon in our community where we can be successful enough to give back."
This spirit of legacy drives the New Impact Fund. We engage in this collective win by connecting high-net-worth members who provide crucial capital and connections to powerful business leaders like Tasha. With New Impact Fund capital, Kobi Co. has expanded product development, improved systems, and increased staffing, strengthening the business. Kobi Co. in turn shares its prosperity through a dedicated scholarship fund for BIPOC women looking to further their education.
For Tasha, the spirit of Juneteenth energizes her for the long-haul push to grow her business. "It's an opportunity to respect the path that was paved for us," she shares. "Juneteenth gives us space to slow down, appreciate how far we've come, and think about how we can continue giving back."
Beyond Capital
Bridging the Advising Gap for Black Entrepreneurs
Capital is crucial—but true impact goes further. Many Black entrepreneurs face barriers not only to funding, but to the trusted advisory relationships and professional services essential for scaling a business. Fewer than 40% of Black business owners have a mentor, and only 58% use services like accounting or legal support, compared to 70% of their white counterparts. Too often, they’re forced to navigate complex decisions alone.
At the New Impact Fund, we know that financial investment is only part of the equation. For Kristina Kenan, Co-Owner ofRevel & Flourish, our capital laid the foundation. But it was the trusted guidance and social capital from Cohort Members Carolyn, Buzz, and Jill that helped her take the next step. “Introducing [my network] to Kristina has been wonderful for her and great for us,” says Buzz. "Something that is easy for us is quite difficult when you don’t have the relationships because of the way that our society has been treated."
This connection is helping Kristina grow as both an owner and a leader. She’s expanded her marketing efforts and broadened her network—critical moves for the next stage of her business. This partnership shows what’s possible when relationships go deeper than dollars: honest counsel, a safe space for real conversations, and a shared commitment to the success of Revel & Flourish.
Tameka Jones, founder of Lip Esteem, celebrating 5 years in business this July. Her journey began in St. Paul's Rondo neighborhood, with first investment capital from NIF’s Cohort 3.
Celebrate Black Business Week and Month This Summer—and Beyond
A Season of Supporting and Investing
From July 24–31, Minneapolis will host Black Business Week, leading into Black Business Month in August. This is a dedicated season to celebrate Black entrepreneurs and actively reinvest in community wealth.
This period offers a perfect opportunity to show up and support the businesses that uplift our neighborhoods and embody what's possible when Black brilliance is actively resourced.
Through its Cohort and Supporting Members, the New Impact Fund is proud to have invested in the following Black-owned businesses—each one a testament to what’s possible when capital, trust, and talent come together.
Welcome to Cohort 5—and welcome back to Cherie, a returning member from Cohort 3!
This group is embarking on an immersive experience to provide vital financial and social capital to small businesses in historically Black neighborhoods across the Twin Cities.
We’ve just wrapped up our Kickoff session, and the energy in the room was palpable—curiosity, honesty, and a shared sense of purpose. It’s clear that this Cohort is ready to lean in, challenge assumptions, and reimagine how capital can be used to build lasting wealth in undercapitalized communities.
We’re honored to walk alongside you as you help unlock opportunity for these businesses.
Be Part of Something Bigger
Make a long-lasting impact
Join Cohort 6, a small group of individuals committed to invest not just financial capital—but time, strategic insight, and relationships—into Black-owned businesses creating lasting economic change.
If you’re not ready or able to join the cohort but still want to support this work, consider becoming a Supporting Member—a vital role where you can put forth financial capital and receive regular impact reporting on how your investment is driving change.
Cohort members engage directly with BIPOC entrepreneurs, building relationships, offering strategic advising, and helping reshape how investment flows into undercapitalized communities.
If you want to align your capital with your values and make a real impact, let’s connect.
As we look ahead, we do so with immense gratitude. Thank you to our past and present Cohort and Supporting Members, and to all the generous individuals, foundations, and corporations who stand with us, making this vital work a reality.
The New Impact Fund (NIF) fosters a powerful community of high-net-worth individuals and BIPOC entrepreneurs in the Twin Cities, working together to build a more equitable economy in historically Black, Indigenous, Latino/a, and Asian neighborhoods. We provide transformative capital and strategic networks, fueling small business growth, wealth creation, and economic justice. Join us in creating lasting change.
DISCLAIMER
These resources are provided for educational and information purposes only. Inclusion of any investment opportunities does not suggest an endorsement. You should perform your own research before you make any investment decision.
You are receiving this email because you either subscribed to our mailing list or attended
