About Us

GroundBreak, a coalition of over 40 corporate, civic, and philanthropic organizations, was established in 2022 with the mission of creating a more inclusive, racially equitable, and climate-ready Minneapolis-St.Paul region.

OUR SHARED GOALS

Over the next decade, GroundBreak aims to expand access to capital to close racial wealth gaps in the region, with a focus on building Black wealth.

By concentrating on the aspirations of Minneapolis-St. Paul residents who face some of the region’s deepest and most persistent disparities, GroundBreak will ensure strategies are broadly beneficial, contributing to a more equitable and prosperous region for all Minnesotans. Through deep collaboration across philanthropic, private, and public institutions, GroundBreak seeks to have the following impacts.

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11,000

New Homeowners

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5,000

Entrepreneurs Creating 8,000 Jobs

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60

Neighborhood Commercial Developments

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23,500

Units of Affordable Housing

A NEW FINANCIAL SYSTEM

GroundBreak identified that by creating a new financial system for the region, institutions could enable a large amount of capital to intentionally flow toward financial tools and products for aspiring homeowners, entrepreneurs, and commercial developers.

The innovation, which harnesses both flexible capital and lending commitments from financial institutions includes a combination of grants to fill one-time funding gaps, guarantees for loans, low-cost, patient capital, and special purpose credit program loans. Through this system, every $1 of flexible capital can unlock over $3 in private-market capital in a predictable and sustainable way. Over the next 10-years, GroundBreak aims to mobilize $5.3 billion to fund these financial tools and products to achieve ambitious results.

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HOW WE GOT HERE

A TRANSFORMATIVE DOWN PAYMENT

In October 2023, GroundBreak announced $926.75 million in financial commitments to expand wealth-building opportunities at a Community Briefing to inform partners and community members on progress and the work ahead.

Progress to date includes securing a significant down payment toward GroundBreak’s 10-year goals and the early development of a more durable operations and governance structure. Work ahead includes building systems to deploy capital, securing additional flexible capital and lending commitments, continuing work on rental housing and aligning GroundBreak with climate initiatives.

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INVESTMENT OPPORTUNITIES

GroundBreak has secured $927.7 million in capital commitments from 12 early investors.

Join us! Together, we can create a more equitable and prosperous region for all.

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GOVERNANCE & OPERATIONS

GroundBreak’s Executive Council and Project Team support our ambitious goals and increase opportunities for shared leadership.

They are getting to work building products and deploying resources directly to aspiring homeowners, commercial developers, entrepreneurs, and wealth builders. The Executive Council will be responsible for ensuring GroundBreak’s plans, developed through an intensive, 6-month community design process with over 170 community members in 2022, are implemented and successful. The Executive Council will be supported by a broader Leadership Council, project team, and Implementation Teams focused on building out systems to flow capital. Resources will be deployed to individuals through approved partners including nonprofits, community development financial institutions (CDFIs), and financial institutions.