Updates from the Coalition
This summer, GroundBreak is beginning the work of building a shared, regional financial platform. By doing this, our region will be able to provide a reliable, long-term, and consistent source of financing for wealth builders in the region. We are excited to move this innovative platform forward to create a central hub for directing and scaling investments that can fund aspirations and shrink wealth gaps, for good.
Silicon Valley Bank Collapse Adds Urgency to Minnesota’s GroundBreak Coalition Efforts to Reimagine How Capital Flows to Black Wealth Builders
This spring, governments and financial systems around the world are responding to the collapse of Silicon Valley Bank (SVB). While the fallout will have a long-term impact on smaller and mid-size financial institutions, it is also revealing deeper issues about how capital and banking systems work, or do not work, for founders of color. That is why Sunrise Banks joined the GroundBreak Coalition along with 40 other leaders from the private, public, and philanthropic sectors to make intentional systemic changes based on input from community leaders who shared the exact same pain-points as many of the founders of color who banked with SVB.
Three Things to Know: How Minneapolis-St. Paul Can Unlock Capital for Unprecedented Black Wealth Building
GroundBreak is at an exciting inflection point, and the months ahead will be pivotal for bringing its vision into reality. Three important developments show where we are now and where we are going.
During GroundBreak Coalition “design sprints,” work group members brainstormed innovative capital investment pathways that could close racial gaps in income and wealth for Black homeowners, renters, entrepreneurs, and commercial developers. The products that emerged from recent work group meetings will be a key foundation to the eventual capital prototypes.
News & Ideas
News & Ideas
Other Coalition Updates
See GroundBreak Coalition workgroup recommendations, monthly update call recordings, and past meeting summaries.