This session will explore how the Federal government as well as leaders from philanthropy and the private sector are engaged in an all-hands-on-deck approach to drive capital to Indian country and to address barriers to economic development. Lack of access to capital dollars to advance the next era of Tribal self-determination has constrained Tribes’ ability to apply for historic levels of federal funding. At the White House Tribal Nation Access to Capital Roundtable on February 29, 2024 Senior officials from across the U.S. Government identified strategies for reducing barriers, building on the current system of Native community development financial institutions (CDFIs), and improving economic development in Tribal communities. Interior Secretary Haaland emphasized the importance of public-private partnerships, as well as interagency collaboration, in expanding capital access, driving long-term economic growth, and building forward momentum for Tribal sovereignty and self-determination.
Two public private partnership initiatives were announced by Native Americans in Philanthropy (NAP) and Mission Driven Finance (MDF), in partnership with Hyphen. NAP is establishing the Tribal Community Vision Fund (Vision Fund), a national multi-year initiative to expand capital access to promote self-determination and sustainable economic and community development in Indian Country. The Vision Fund seeks to raise and deploy $1.2 billion in private and philanthropic investments––in the form of grants, PRIs, MRIs, equity, and debt capital––to leverage historic levels of federal funding. As part of the Initiative for Inclusive Entrepreneurship, MDF is launching the Indigenous Futures Fund to accelerate the flow of SSBCI capital to Native CDFIs, entrepreneurs and enterprises. The Fund seeks to raise $2 million in grants and $25 million in investment capital to address the immediate needs and opportunities of Native businesses, as well as support the long-term capacity of financial intermediaries working in Indian Country, particularly Native CDFIs.
