The Black Farmer Fund (BFF), a community-led investment fund for Black-owned agricultural and food businesses, has successfully raised $11 million, ESSENCE reports.

The milestone comes as part of an effort to raise $20 million for the BFF Fund 2.0, which will provide Northeast-based Black-owned agricultural and food businesses with grants as well as operational support. Capital raise supporters include Chordata Capital and the Kataly Foundation.

“We are humbled by the support from investors aligned with our commitment to racial and economic justice,” said BFF co-founder Olivia Watkins. “With $11 million secured, we are well on our way to achieving our $20 million goal. This significant milestone reaffirms our belief that when we empower Black communities, we foster a stronger, more inclusive food system that benefits us all.”

(Photo credit: Getty Images/Armand Burger)