The BFM Fund

What The BFM Fund does

The BFM Fund is a privately held, Portland, Oregon-based seed-stage venture capital fund founded in 2020 that invests in Black and BIPOC (Black, Indigenous, and People of Color) founders across the United States. The fund writes $50,000-$100,000 checks into companies between Series Seed and Series A stages, with half of Fund I reserved for follow-on funding, and plans to deploy into approximately 40 portfolio companies across eight differentiated verticals over Fund I's 2020-2030 lifecycle. Bank of America has made an equity investment in the fund, signaling institutional endorsement.

Beyond capital deployment, The BFM Fund operates a layered ecosystem platform. The Emerge Initiative administers non-dilutive grants to concept-stage BIPOC-led companies through partnerships with non-profits such as Oregon Entrepreneurs Network (OEN) and Venture For T.H.E.M, including an HBCU Pitchfest at Morgan State University co-sponsored with the Virginia Innovation Partnership Corporation, Gener8tor, and the Milken Institute. The fund runs the WOC Coalition Series (a networking platform that has connected 240+ women-of-color VC leaders since December 2022) and the quarterly BIPOC Leaders Lunch Series, and maintains two directories — a Diverse Fund Manager Directory and a Culturally Competent Service Provider Directory — that serve as permanent ecosystem infrastructure. The fund generates revenue through conventional venture fund economics: management fees on committed capital and carried interest (typically 20%) on portfolio company exits, with payouts realized over 5-10 year horizons through acquisitions or IPOs. The organization has 1-10 employees and is led by Managing Director Himalaya Rao-Potlapally (MSW, MBA).

Name

The BFM Fund

Legal name

The BFM Fund

Website

https://bfm.fund

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

The BFM Fund is a Portland-based seed-stage venture capital fund that invests $50k-$100k in Black and BIPOC-led companies across the United States, and operates complementary non-dilutive grant, networking, and directory programs to expand access within the venture ecosystem.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Early-Stage Venture Capital (Series A/B) (FSANAAAB)

akta.pro secondary industries

SDG / Thematic Sustainable Investment Funds (FSANAJAN), Grantmaking & Philanthropic Funds (Institutional Donors) (BPADAOAB)

Keywords

• Venture capital fund
• Seed stage investment
• Early-stage startup funding
• Equity investment management
• Portfolio management services

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Venture Fund Management: The fund generates returns through carried interest (typically 20% of profits above the hurdle rate) on successful portfolio company exits. Returns take 5-10 years to pay out through liquidation events (acquisitions or IPOs). Fund I lifecycle is 2020-2030 with two 1-year extensions.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

The BFM Fund is a seed-stage venture capital fund that makes equity investments in Black and innovative founders across the United States, typically writing $50,000-$100,000 checks at Series Seed to Series A stages with half of Fund I reserved for follow-on funding. Beyond capital deployment, the fund operates supplementary programs including the Emerge Initiative (non-dilutive grants for concept-stage BIPOC companies), the WOC Coalition Series, the BIPOC Leaders Lunch Series, and maintains the Diverse Fund Manager Directory and Culturally Competent Service Provider Directory to expand access within the venture ecosystem.

Product overview

The BFM Fund is a seed-stage venture capital fund structured as a single investment vehicle (Fund I, 2020-2030) focused on Black and innovative entrepreneurs. The fund provides equity investment through $50k-$100k checks at Series Seed to Series A stages, with half reserved for follow-on funding. Beyond capital deployment, the organization operates supplementary programs including the Emerge Initiative (non-dilutive grants for concept-stage BIPOC companies), the WOC Coalition Series (networking events for women of color fund managers), and the BIPOC Leaders Lunch Series (quarterly cross-industry networking events). Additionally, the organization maintains two directories: a Diverse Fund Manager Directory and a Culturally Competent Service Provider Directory, both designed to expand access within the venture ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• The BFM Fund (Main Fund) Seed-stage venture capital fund that invests in Black and innovative founders across the United States, typically writing $50,000-$100,000 checks to companies between Series Seed and Series A stages, with half of the fund reserved for follow-on funding.
• Emerge Initiative Non-dilutive grant program designed to support early-stage companies led by BIPOC founders at the concept stage. The BFM Fund works with non-profits including Oregon Entrepreneurs Network to create geographic and industry-specific standards for awarding grants to help companies finalize prototypes and launch into the market.
• Women of Color (WOC) Coalition Series Event series bringing together women of color GPs and LPs to connect through emotional vulnerability and storytelling, including closed small-group sessions and open networking sessions for WOC funding opportunities.
• BIPOC Leaders Lunch Series Quarterly networking lunches in various geographies that bring together diverse leaders including founders, vendors, service providers, investors, and policy makers to unite and find ways to collaborate.
• Diverse Fund Manager Directory

Quantifiable outcome

• Over 240 Women of Color leaders in venture capital connected through WOC dinner series since December 2022
• +1 more outcomes

Named customers11 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core, minor and flagship.

• Wellington Access VenturescoreGTM or Marketing Partner · 1 January 2023Collaboration on PNW BIPOC Leaders Lunch and Dinner events. Partnership created to bring founders and funders together for network building in the Pacific Northwest.
• Village Family CapitalminorGTM or Marketing Partner · 1 January 2023Collaboration on PNW Founders Meet Up event at Olive or Twist in Portland, Oregon.
• Oregon Entrepreneurs Network (OEN)flagshipStrategic or Co-development Partner · 1 January 2022Flagship partner for the Emerge Initiative. OEN and The BFM Fund work together to create geographic and industry-specific standards for BIPOC entrepreneurs. The partnership administers non-dilutive grants to concept-stage BIPOC-led companies in Oregon.
• Venture For T.H.E.McoreStrategic or Co-development Partner · 1 January 2022Post-award partnership providing portfolio companies access to mentorship, workshops, resources, and a roadmap for success. Venture For T.H.E.M is also featured in the Culturally Competent Service Provider Directory.
• VamosVenturesminorGTM or Marketing Partner · 1 January 2022Partnership for PNW BIPOC Leaders Lunch event in Portland, Oregon.
• Sutton CapitalcoreGTM or Marketing Partner · 1 January 2022Co-host of WOC NYC Dinner event series, partnering with First Republic Bank to host events across the United States focused on WOC-led funds and LPs.
• First Republic BankminorGTM or Marketing Partner · 1 January 2022Event collaboration partner for BIPOC Leaders Lunch series and WOC dinner events.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Wellington Access Ventures: Diversity-focused investment platform within Wellington Management; co-hosts PNW BIPOC Leaders Lunch with BFM, evidencing shared LP/GP ecosystem and BIPOC entrepreneur thesis.
• MaC Venture Capital: Seed-stage fund investing in underrepresented founders at the intersection of technology, media, and culture; comparable stage, ticket size, and BIPOC focus.
• SoGal Ventures: Early-stage VC fund investing in diverse founders (women and BIPOC) globally; comparable thesis-driven seed-stage investing with community-led network effects.
• BBG Ventures: Seed-stage venture firm investing in startups founded by women and people of color, often as the first institutional check; directly comparable in BIPOC founder thesis and seed check sizing.
• Sutton Capital: Fund investing in underrepresented founders led by John Henry; explicit co-host partner for BFM's WOC NYC Dinner events, demonstrating direct overlap in BIPOC/WOC thesis.
• VamosVentures: Early-stage VC fund led by Alexandra Bernadotte investing in BIPOC-founded startups; explicitly listed as a BFM partner for the PNW BIPOC Leaders Lunch, indicating they operate in the same niche.
• Backstage Capital: Arlan Hamilton's seed-stage venture fund investing in underestimated founders, including Black, women, and LGBTQ+ entrepreneurs; directly comparable to BFM in BIPOC-focused seed-stage thesis and community-driven deal sourcing.
• Fearless Fund: Early-stage venture fund investing in women of color-led companies, with overlap on Black/BIPOC founder focus and similar portfolio support programs; already a peer example in the BIPOC-led VC space.

Emerging players

• Village Capital: Impact-focused venture firm supporting underestimated founders through accelerators and ecosystem programs; comparable on the non-dilutive/grant support side (Emerge Initiative analogy) and BIPOC entrepreneur support.
• Pipeline Angels: Network of women and non-binary angel investors deploying capital into early-stage companies; overlaps with BFM on women-of-color founder focus and community-driven investing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key highlights6 records

Customer concentration

• Xx.com/blfounders
• LinkedInlinkedin.com/company/black-founder-matter

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The BFM Fund