Fibers Fund Selected for Inaugural PRI program from Nathan Cummings Foundation
New investment mobilizes NCF’s assets and accelerates the Fibers Fund’s work towards regenerative economic models
The Fibers Fund is honored and delighted to announce a new Program-Related Investment (PRI) of up to $500,000 from Nathan Cummings Foundation (NCF). This support is part of Nathan Cummings Foundation’s inaugural PRI offering, reflecting its commitment to leveraging 100 percent of the Foundation’s assets towards its mission. The Fibers Fund was selected from among 50 applicants to be one of 8 partners in NCF’s initial slate of PRI recipients. This investment furthers the shared commitment of Fibers Fund and Nathan Cummings Foundation to advancing economic and environmental justice, specifically by helping U.S. natural fiber and textile entrepreneurs build their businesses as community-based regenerative economic models.
Patient and Catalytic Investment Structure
The Fibers Fund PRI from NCF is structured with two goals: offering highly patient and flexible capital to fiber entrepreneurs in the Fibers Fund’s network, and providing a matching challenge to give the Fibers Fund additional leverage in its overall capital raise.
This patient PRI support from NCF will allow the Fibers Fund to meet fiber businesses who have experienced the greatest disinvestment with tailored financing, building their capacity to obtain fair contracts, catalyze more capital, and create sustainable livelihoods. NCF’s backing boosts momentum for the Fibers Fund and creates a powerful opportunity for additional catalytic investments.
Unlocking Regenerative Economic Models
According to Bob Bancroft, Vice President, Finance & Mission Investing at NCF, “We are proud to count Fibers Fund among the inaugural partners in our new PRI initiative. Using flexible capital and creative solutions, we can repair past harms and invest in the future by supporting these entrepreneurs who are building a more equitable and regenerative domestic economy.”
“The Fibers Fund is deeply grateful for the opportunity to work in partnership with Nathan Cummings Foundation through this new PRI,” added Sarah Kelley, Managing Director of the Fibers Fund. “From our daily work with fiber entrepreneurs across the country, we know that access to patient and flexible capital can unlock so many opportunities for these businesses to build community wealth, advance regenerative agriculture, and create a more resilient U.S. fiber and textile supply network. Throughout the PRI process, the NCF team has been unfailingly transparent, supportive, and collaborative in their approach. We’re honored to work with such a values-aligned partner and look forward to putting NCF’s critical support to work increasing access to capital and advancing economic justice.”
About Nathan Cummings Foundation
Nathan Cummings Foundation is a multigenerational family foundation honoring the Jewish tradition of social justice. NCF invests in systemic solutions that advance racial, economic, and environmental justice and prioritizes partnerships with organizations led by those most impacted by and most capable of dismantling systems of oppression – particularly communities of color. NCF is committed to activating the totality of the Foundation’s assets in pursuit of people-centric impact. Learn more at nathancummings.org.
Across its work, NCF seeks to remove barriers and promote opportunities to advance racial, economic, and environmental justice (REEJ). The Foundation believes these challenges are complex and require a creative approach that aligns all its resources toward this purpose. Therefore, in 2024 NCF established a Program-Related Investment Initiative and designated 5% of its endowment to provide an array of innovative tools through flexible capital. Through this initiative, NCF hopes to learn, to demonstrate and amplify successful models, to catalyze action and investment from others, and to join a diverse range of partners in pursuit of solutions.
About The Fibers Fund
The Fibers Fund is a catalytic fund to support small U.S. natural fiber and textile producers and processors, with a specific focus on environmental equity. The global textile industry is built on the exploitation of ecosystems and people and tied to the extractive capitalist economy. Fiber crops (such as flax, cotton, fiber hemp, wool, alpaca, and leather) are an integral part of regenerative agricultural systems. Yet this sector has received little attention from investors. Launched in 2023 to fill these capital gaps, the Fibers Fund offers flexible capital to U.S. natural fiber producers and processors in the form of business TA grants, forgivable loans, and low-interest term loans, combined with wraparound support. The Fund was incubated through a partnership between Fibershed and Sustainable Agriculture and Food Systems Funders (SAFSF), and transitioned to independent status at the end of 2024.
With its equity-focused governance structure and approach, the Fibers Fund was selected as a 2023 Transformative 25 fund, a list of funds “transforming the economy for social, environmental, and economic justice,” and featured on Impact Alpha’s “The Liist” as an innovative debt fund. Learn more about the Fund’s work, team, and portfolio at fibersfund.com.
Implementing Partners
The new PRI will be administered through the Fibers Fund’s partnership with Broadstreet Impact, an impact financial services company that offers both fund management and fund administration services. As part of its transition to independent structure, the Fibers Fund selected Broadstreet, a trusted partner for dozens of impact funds, to take on the administration of its incoming investments and outgoing loans. The Fibers Fund also continues its valued partnership with Impact Charitable, which houses a special purpose fund that allows the Fibers Fund to take in and deploy philanthropic capital as a key component of its integrated capital model.
Learn More about Opportunities for Leverage
The Fibers Fund welcomes inquiries from philanthropies, donor-advised funds, family offices, and accredited investors interested in leveraging NCF’s support and catalyzing further impact for fiber entrepreneurs across urban and rural areas. Learn more about our work and opportunities to invest or donate at fibersfund.com and contact us at [email protected].
Contact Us
Fibers Fund: Sarah Kelley, Managing Director, [email protected]
Nathan Cummings Foundation: Jon Zella, Communications Manager, [email protected]