Equity Fund

The Equity Fund is a grant program administered by the PFund Foundation, a philanthropic organization dedicated to advancing equity and supporting LGBTQ+ individuals and communities. This specific initiative focuses on BIPOC LGBTQ+ entrepreneurs and small business owners in the Minneapolis-St. Paul metropolitan area. Through this program, the foundation aims to provide financial resources, ongoing business education, and networking opportunities to help participants strengthen and expand their enterprises. The program offers $5,000 grants to eligible applicants, which must be used exclusively for the business purposes outlined in the proposal. Personal use of the funds is not permitted. Awardees also gain access to a series of in-person cohort meetings, with the expectation that they attend at least 80% of these gatherings. These sessions, totaling six over the course of the program, are designed to provide continued learning, mentorship, and peer support. The PFund Foundation further supports awardees by facilitating connections with other entrepreneurs, funders, and community resources. Eligibility for the Equity Fund is clearly defined. Applicants must identify both as LGBTQ+ and as Black, Indigenous, or a Person of Color. Their business must be located within the Minneapolis-St. Paul metro area and have been in operation for at least one year. Additionally, the business must have generated an annual gross revenue of $250,000 or less in the most recently completed fiscal year and have no more than 20 employees. These criteria are intended to target small businesses that are both diverse in leadership and rooted in the local community. Applicants are required to submit a complete application by the published deadline, along with all necessary supporting documents. If awarded, recipients must provide signed grant agreements, an IRS W-9 form, and the business’s logo to process payments. At the conclusion of the grant period, recipients are required to complete an online survey and provide a report detailing how the grant funds were used. This accountability process ensures that the funds are applied effectively to support business growth and community impact. The 2025 application cycle is currently open, with submissions due by Monday, September 22, 2025, at 5:00 PM Central Standard Time. A virtual information session is scheduled for Monday, August 18, 2025, at 12:00 PM Central Standard Time for prospective applicants to learn more about the program. Interested individuals are encouraged to register for this session in advance. The program is made possible through the support of the Minneapolis Foundation, Hugh J. Anderson, F.R. Bigelow Foundation, Stephen Walker, and individual donors. The PFund Foundation’s Equity Fund continues to have a measurable impact on the region’s entrepreneurial ecosystem. Past recipients, such as Belo Miguel Cipriani, founder of Oleb Media, have leveraged the grant to expand their businesses and contribute to social change. Through funding, education, and networking, the program fosters economic empowerment among underrepresented business owners and supports a thriving, inclusive local economy.