We are honored to announce Working Capital for Community Needs (WCCN) has been named to The Transformative 25, a collective of funds, banks and initiatives that are demonstrating the power of integrated capital strategies to reimagine and recreate a financial system that works for people and the planet. This prestigious list is curated by Collective Action for Just Finance with an eye for shifting power and mobilizing capital for financial justice.
"During the introductory call for the Transformative 25 one of the hosts took a moment to mention WCCN as a fund that the smaller or younger funds could aspire to be in terms of our long history, track record and number of grassroots supporters over the years. We weren't expecting that acknowledgement in the meeting, and it gave us something to reflect on as we enter our 40th year. "
- Will Harris, Executive Director, WCCN
WCCN along with our peers named to the T25 met during a webinar on May 1 to celebrate the publication of the 2024 list. We could not be more proud to stand beside organizations like The Runway Rooted Fund which partners with values-aligned investors and funders to provide “Believe-In-You Money” to businesses in Black communities using transparent terms, character and trust-based underwriting principles, and holistic business support.
"It is about being grounded in who we are, where we come from, what truly matters and, most importantly, who matters. The Rooted Fund represents an opportunity to really get to the root of wealth inequality in America."
- Jessica Norwood, Founder and CEO, Runway
The individuals at Collective Action for Just Finance are financial activists. When considering what criteria an organization needs to embody to be included in this carefully curated collective, they require funds to have positive scores in the following core criteria:
Social, Relational and Ecological Returns
Ownership and Governance
Integrated Capital
Creative Finance
Transformative Mission and Diverse Team
A complete list of definitions for each criteria and examples from past Transformative 25 lists can be found on Collective Action for Just Finance's website.
Diverse Leadership is Key
The T25 Committee notes that diverse leadership teams are able to identify overlooked investment opportunities and create the kind of informed and culturally relevant support that unbanked and underbanked communities need.
“If you want to make a difference in racial and gender equity in finance, this is where you want to look. The T25 list is deeply informed by social justice movements. The leaders of these funds are pushing the world of finance to be accountable to borrowers and to communities.”
- Jennifer Astone, Founder, Transformative 25 List, Ecosystem Director, Collective Action for Just Finance
96% of the 2024 funds identify as Black, Indigenous and People of Color-led (BIPOC-led), meaning they reported 50% or more of the fund’s leadership self-identifies as Black, Indigenous, or People of Color.
For the second year in a row, five (19%) Indigenous-led funds showcased in the T25 list demonstrate how Indigenous communities around the world are building economic power and self-determination.
75% of the funds self-identify as women-led (cis and trans), femme-led or gender-expansive led (50% or more leadership).
Non-extractive Finance Attracts $1.13 Billion
Cumulatively the 90 funds listed on the T25 since 2021 have raised $1.13 billion dollars in grant and investment capital for impact-first funds attracting capital from a wide range of investors and donors. “With well over a billion dollars in deal flow, the annual T25 list underscores that there are absolutely no excuses for investors who truly seek to make impact-first investments,” said Taj James, Co-founder, Full Spectrum Capital Partners and Movement Strategy Center and Steering Committee, Collective Action for Just Finance.
