Black Momentum - FUND 50 Black Entrepreneurs

Support this Charity Program that provides Grants to Black Entrepreneurs to Affect Tangible Change in their Communities.

"Today, the average white American family is worth $171,000 while the average black family has only $17,000. That's a stunning 10-1 gap"... According to the Brookings Institution

My name is Val Nzhie, Chair of The Black Momentum,  Board Member of Bervann Foundation and Chief Operating Officer of Bervann Capital. As a Black Man, I cannot turn a  blind eye to all that is happening to my community. I am inviting you to join our mission and Donate an amount of your choice.

Black Momentum raised $118,500 at the launch on June 27. We are still $881,500 away from our $1 million initial target. 

All Proceeds will go toward The Black Momentum Class of 2021 Program to Mentor and Fund 50 Black Entrepreneurs who will Affect Tangible Change in their Communities. Watch My Welcome Address Below:



George Floyd, The Wake-up Call:
George Floyd's murder awoke all of us in so many different ways. We, as a nation, find ourselves facing our demons of the past. While Black Lives Matter, NAACP, Colin Kaepernick and several Black-Led organizations are doing a tremendous job fighting for more equality and justice for Black communities, Racial Wealth Inequality remains one of the most critical underlying problems in America; Today, the average white family is worth $171,000 while the average black family has only $17,000. That's a stunning 10-1 gap. This number did not come out of nowhere. Throughout the post-Civil War history of the U.S., there were many opportunities for individuals to build family wealth (mostly through land and home ownership). Each time, black communities were deliberately excluded as a matter of policy.

Circling Back in History, Let's Educate Ourselves:
In 1906, Black entrepreneurs built a successful and thriving community in the Greenwood area of Tulsa, Oklahoma. The area was so successful, it became known as "Black Wall Street." This would have been a great source for black family wealth for generations and would have sparked entrepreneurs in coming generations. However, in 1921, in the Tulsa Massacre, mobs of local white militias and Ku Klux Klan burned down the entire area leaving many dead, injured and 191 businesses destroyed. The founders of Black Wall Street essentially disappeared-some reports say that they were lynched.

African Americans would continue to be excluded from Government sponsored projects such as Government insured home loans which led to many white Americans owning properties that would appreciate significantly over time; Thus, we arrive at the 10-1 gap in family wealth.

Access to Initial Capital,
A Real Dilemma for Black Entrepreneurs:
Most entrepreneurs get their initial check from family members. Because it was continuously made difficult for Black families to build foundational wealth, Black entrepreneurs struggle to get their initial funding from family members and the majority see their brilliant ideas die before even having a chance to be heard. At which point, there are very few alternatives left to them like  government's dependence, low wages gigs or Illegal Activities.

Watch Below Tariq Hussain, CEO of Bervann Capital and Tim Varner, Serial Tech Entrepreneur and Angel Investor presenting the Black Momentum Class of 2021.



Empowering Black Entrepreneurship,
A Sustainable Path to Exit Racial Wealth Inequality.

The Black Momentum Class of 2021
The Black Momentum Class of 2021 is a Social Entrepreneurial Program launched by Bervann Foundation, a registered 501(c)(3), tax exempt organization, to Mentor and Fund 50 Black Entrepreneurs who will Affect Tangible Change in their Respective Communities. The selected candidates will benefit from:

1. Mentorship/Coaching from highly experienced leaders;
This will help them accelerate their personal and business growth.

2. Networking with successful investors and entrepreneurs;
This will provide them with strategic relationships.

3. A Financial grant of $150,000 to invest in their business.
This will allow them to start or boost their company.

The Black Momentum Class 2021  provides a clearcut solution to Racial Wealth Inequality that is pervasive in America and a factor of many other social injustices in this country. 
 
The program will take an initial cohort of 50 Black Entrepreneurs. Over a 90-day period, the cohort will  work with mentors to help them accelerate the growth of their business. Each member of the cohort will also receive $150,000 grant to inject into their business. 

The cohort will also have opportunities to meet and learn from  institutional and private investors as well as successful entrepreneurs and business leaders. At the conclusion of the 90-day program, Black Momentum will host a demo day where each entrepreneur can present their business to potential investors and get additional funding.

The objective of BM 2021 is to develop and grow the entrepreneur, not focus on returns for the fund. Hence, it is established as a charitable endeavor. Although some entrepreneurs may not find success with their current business, the development, skills and network established through BM 2021 may lead them to be very successful on their second or third venture. 

Any members of the cohort who are successful in their businesses will return a small equity to the Foundation, which will then be used to support future cohorts. Essentially, it will become a self sustaining, "pay-it-forward" model.

In summary, BM 2021 is an actual action item to address the racial wealth gap by positively empowering black entrepreneurs, helping to create wealth and create jobs. Through BM 2021, Black Entrepreneurs will stand out as major inspirations to their peers. 




The overall cost of Black Momentum Class of 2021 is $10 million.

We already raised $118,500 at the launch of Black Momentum on June 27 and hope to raise additional $881,500 to hit our initial target of $1 million through individual donations on this Go Fund Me. 

We are actively working toward raising the remaining $9 million through Corporate and institutional donors.

Please Support The Initiative:
- Donate 
- Share with your Network

Help us change the Narrative for Black Entrepreneurs!