Investment Spotlight: Ebiara Fund

The $11-million Ebiara Fund makes investments in Detroit-based, Black and Brown-led development firms to accelerate their ability to scale. The Kresge Foundation’s support came via a $10-million investment to establish the fund with CDFI partner Invest Detroit, which added $1 million to the fund. Ebiara is managed by a Black-led development & consulting firm. The goal of Ebiara, which is named after an African wood, is to grow the fund to $100-200 million, so that Black and Brown-led development firms will have access to equity capital needed to take on larger-scale projects and be a part of the revival of Detroit’s neighborhoods.