In October 2019, Candide Group launched Olamina Fund
to address the historic lack of access to capital in American communities — namely Black and Native communities, who have faced decades of disinvestment and intentional extraction. This fund includes impact-oriented loans to a variety of women- and BIPOC-led private debt providers, such as CDFIs, non-profit loan funds, and other institutions, which invest in critical community staples including small business development, worker cooperatives, and low-income housing.
IMPACT THESIS:
Olamina Fund seeks to build tangible and sustainable community wealth by investing in access to asset-building, high-quality jobs, and self-determination for low-income communities. At Candide Group we've seen huge demand from both sides of this equation — investors who want to apply a social and racial justice lens to their work, and community organizations committed to racial justice that have been systematically excluded and need a lower cost of capital, with flexible terms. We launched Olamina to bridge that gap.
Olamina Fund believes that organizations which are led by people from the communities they serve are ultimately able to manage resources and risk more effectively, so at least 80% of Olamina’s borrowers will be led by people of color and women. We will also provide non-financial capital, such as access to networks, as part of our investment strategy. Unlike traditional loan funds, community borrowers are placed at the center of Olamina’s governance and design of solutions. At the same time, we will seek to honor all stakeholders within the fund through participation in profits and through its Community Advisory Board, which advises on the fund strategy, reviews opportunities, and participates on the Credit Committee. Please see our FAQ to learn more about our approach.
CURRENT FUND SIZE:
$40M
GENERAL INVESTMENT STRATEGY:
The Fund focuses on senior unsecured loans of between $1M and $4M to CDFIs and other loan funds, and between $500k and $1M in direct loans to companies and other organizations. In some cases, the Fund may lend to CDFIs through intermediaries who have expertise around a specific community and are able to spur additional investments to smaller CDFIs in their network.
Information that appears on this website contains forward-looking statements that involve risks and uncertainties and is only intended for accredited investors. There can be no assurance that the investment objective of the fund will be achieved or that loans made by Olamina Fund, LLC will prove as successful as other loans that might have been made. Certain investment and lending practices, including the use of leverage, can, in some circumstances, have an adverse effect on the investment and loan portfolio of the fund, or increase the risk thereof. General Disclosure: This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in the Olamina Fund, LLC or any related or associated company. Any such offer or solicitation will be made only by means of the confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. The information contained on this website or certain pages in this website about the Olamina Fund, LLC may be considered to be a general solicitation of and general advertising for the sale of exempted securities to accredited investors under Rule 506(c) of the Securities Act. As such, prior to the sale of any security to any investor, the company must take reasonable steps to verify that all potential investors are accredited investors. None of the information or analyses presented are intended to form the basis for any investment decision, and no specific recommendations are intended. Accordingly, this website does not constitute investment advice or counsel or solicitation for investment in any security. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever.