First Round of Capital Investments and Philanthropic Grants

In March, Goldman Sachs launched One Million Black Women, a new initiative committing $10 billion in investment capital and $100 million in philanthropic support to advance racial equity and economic opportunity by investing in Black women.

Following the launch, Goldman Sachs, in partnership with Black-women-led organizations, conducted listening sessions, which engaged more than 12,000 women to determine the projects that would receive the initial round of financial support.

Today, Goldman Sachs announces the initial One Million Black Women foundational grant, capital investments and philanthropic grants.

“We committed to listen to and learn from Black women and that is exactly what we are doing. We have heard from thousands of Black women about their successes and hopes, and equally their challenges and the solutions they have implemented to create opportunities and build better lives for themselves, their families, and their communities. It is these key learnings that will guide us through One Million Black Women to support and invest in the infrastructure that enables Black women to thrive.”

- Margaret Anadu, Global Head of Sustainability
and Impact for Asset Management

Read the Press Release

Investment capital and philanthropic grants will be provided to the following organizations:

Archer Towers (New York, NY) will receive an investment to fund the construction of a mixed-income residential development in Jamaica, Queens consisting of 181 affordable units, 424 market rate units, 13,900sf of retail space, and 224 parking spaces. Housing is intrinsically connected to better health outcomes, economic mobility, and employment prospects for Black women. This investment will provide stable, quality, affordable housing in a traditionally cost-prohibitive metro area.

Birth Center Equity (National) will receive a grant to support Black women led community birth centers in providing access to new resources that ensures Black women’s collective vitality, sustainability, and growth.

BlocPower WiFi (New York, NY) will receive an investment to expand broadband services across the Bronx and Upper Manhattan with a focus on low-income neighborhoods. The lack of affordable broadband access leads to barriers to education, employment, banking services, healthcare, social networks and other services for Black women.

Buy From A Black Woman (Atlanta, Georgia) will receive a grant to continue website development, social media education content, technical assistance and grant funding to small Black-women owned businesses.

Center for Maternal Health Equity at Morehouse School of Medicine (Atlanta, Georgia) will receive a foundational grant to directly address the disproportionate maternal mortality that Black women face in comparison to white women. 60% of maternal deaths are preventable and this investment will seek to reverse this troubling statistic.

Collab Capital Fund I (National) will receive an investment to fund investments in Black founders building innovative, high growth companies. Currently, Black women start businesses at the fastest rate of any demographic, but receive 0.27% of venture capital funding.

Columbus Urban League (Columbus, Ohio) will receive a grant to fund the pilot launch of Incubate Her, which will create meaningful change in the economic health and outlook of Black women in Central Ohio.

NYC COVID-19 Loan Facility (New York, NY) will receive an investment to fund critical staffing needs related to the COVID-19 vaccination process and patient care at New York City’s safety-net hospitals which serve the City’s underserved Black communities.

Prosp(a)rity Project (East Palo Alto, California) will receive a grant to fund the development of the 35*2 Free Initiative, which provides personalized financial coaching and retroactive scholarships for “Prosperettes” to help manage student loan debt.

Sadie Collective (Washington, District of Columbia) will receive a grant to fund the creation of high school economic clubs for young Black girls to participate in the annual Federal Reserve Challenge.

Springboard To Opportunities: Magnolia Mother’s Trust (Jackson, Mississippi) will receive a grant to fund the next iteration of the Magnolia Mother’s Trust program, which provides Black mothers living in extreme poverty with a $1,000 monthly stipend to help lift them out of poverty.

Women’s Fund of Central Ohio (Columbus, Ohio) will receive a grant to fund the Enduring Progress Initiative to fill the systemic funding gap faced by non-profits led by women of color.