Shape the Future of Finance

The Fellowship is designed for fund managers at all stages—whether you are in the early design phase, actively launching your fund, or scaling an established model. Ideal applicants are committed to using capital as a tool for social, economic, and environmental justice.

We welcome a diverse range of fund types, including:

• Grant-making funds

   

• Debt funds (micro-lending, revenue-based finance)

   

• Equity funds (venture capital, cooperative funds, impact funds)

   

• Hybrid funds using integrated capital (a mix of grants, debt, equity, and recoverable grants)

   

Place-based funds serving specific communities

The Fellowship runs for six months, with 12 live, interactive sessions held bi-weekly (August–December), followed by a Winter Deep Dive Series (January–March) for advanced training. Sessions are delivered virtually for accessibility, with additional in-person events at the annual ________ Summit & Showcase

Core topics include:

• Systems Change and Regenerative Finance

   

• Designing Fund Structures and Governance Models

   

• Integrated Capital Strategies (Grants, Debt, Equity, Recoverable Grants)

   

• Impact Measurement and Reporting

   

• Capital Raising and Investor Relations

   

Policy Advocacy for Systems Change

Fellows learn from a diverse group of seasoned fund managers, legal and compliance experts, impact investors, and BII’s leadership team. Past mentors include leaders from Black Farmer Fund, CLLCTIVLY, and Denkyem Co-Op.

Applicants should have a clear fund idea or existing fund model focused on racial, economic, or environmental justice. We welcome solo fund managers, teams, and organizations designing or scaling mission-driven funds.

Yes. Our curriculum is designed to help you refine your fund concept, develop a viable model, and navigate the legal, financial, and strategic steps required to launch.

 Yes. We encourage teams to apply and up to three members may participate under a single registration, ensuring your team gains shared knowledge and skills.

Our content and expertise is applicable to US-based funds only.

Applications are reviewed by a selection committee that considers mission alignment, fund concept clarity, potential for impact, and readiness to benefit from the program. Selected applicants will be invited for a brief interview before final decisions.

Fellows receive:

• 12 live, expert-led learning sessions.

   

• 1:1 coaching with seasoned mentors.

   

• Peer Learning Circles for ongoing support.

   

• Strategy Council Sessions for customized feedback.

   

Access to the First Mover Fund and Fund Incubator for catalytic capital and advisory services.

The First Mover Fund is a flexible, mission-aligned funding source available to fellowship alumni. It provides catalytic capital (grants, recoverable grants, and low-cost loans) to help you launch or scale your fund.

The First Mover Incubator offers tailored advisory support to help you design, launch, and operate your fund. This can include legal compliance, back-office support, capital raising, and fund structuring.

Yes. In addition to peer networking, Fellows gain access to investor convenings, pitch opportunities, and direct introductions to mission-aligned investors through the BII network.

The total cost of the ARC Fellowship is $10,000 per team, which includes access to all curriculum sessions, coaching, advisory support, and membership in the BII Fund Manager Network.

Yes. We are committed to accessibility and equity. Scholarships and sliding scale options are available for mission-aligned teams with demonstrated need.

 Yes. Payment plans can be arranged to help you manage the cost of participation.

Refunds may be considered on a case-by-case basis before the program start date. Once the program begins, fees are generally non-refundable.

Graduating Fellows join a lifelong community of practice, with continued opportunities to:

• Access Peer Learning Circles and regional gatherings.

   

• Apply for catalytic capital from the First Mover Fund.

   

• Receive custom support through the First Mover Incubator.
  
• Lead or participate in future fellowship sessions as a mentor.

Yes. Alumni can access ongoing coaching and advisory support, as well as join advanced training sessions in the Winter Deep Dive Series.

Fellows join the BII Fund Manager Network, where they can connect with peers, access exclusive resources, and receive updates on new opportunities.