The Christensen Fund's 2023 Annual Report: Supporting Indigenous Rights

The Christensen Fund is excited to share our 2023 annual report with our colleagues around the world. More so than ever before, our values are rooted in the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP). To support the self-determination of Indigenous Peoples, we prioritize Indigenous-led organizations, including Indigenous-led funds.

In our practice of trust-based philanthropy, we almost always provide general operating support grants, maintain flexible requirements and criteria, and prioritize joint learning rather than stringent monitoring and evaluation. We strive to create connections between communities and movements at the grassroots, subnational, national and international levels.

Thanks to our Board, staff, philanthropic colleagues and partners around the globe for informing our strategy and helping us reflect on all the learning that occurred in 2023.

DOWNLOAD OUR 2023 ANNUAL REPORT

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by Stephanie Walker

Groundbreaking Investment in Two Native Organizations

The Christensen Fund launches Program Related Investment Initiative

Tocabe Indigenous Marketplace

The Christensen Fund has committed a $3,000,000 Program Related Investment (PRI) to Tocabe’s Indigenous Marketplace, a Native-owned and operated restaurant and marketplace offering ready-made Harvest Meals™ that specializes in Native American cuisine.

This investment will help build out their new direct-to-Tribe meal program and support their construction of a Native food producers supply chain.

Tocabe is currently the only Native-owned and operated restaurant and marketplace offering ready-made Harvest Meals™ that specializes in Native American cuisine. Indigenous ingredients are sourced from Native farmers, ranchers, producers and caretakers. Their methodology goes beyond farm to table and is described as, “Seed to Soul.” Indigenous-sourced ingredients provide healthy meals that not only nourish but contribute to the revitalization and preservation of Indigenous culture. Tocabe feeds the soul.

The support from The Christensen Fund goes directly to the development of Tocabe’s Indigenous Marketplace and ready-made Harvest Meals available to order online, thereby broadening accessibility to Native foods. Tocabe’s vision is to embrace the traditions of American Indian Cuisine and ingredients by building community through food. As stated on their website: "We believe that food is more than just sustenance — it's a powerful way to connect with our heritage, our community, and each other. Join us in our mission to interlink Native and Indigenous food systems with every household to make sure all peoples have access to foods that nourish our communities from seed to soul."

Get to know more about Tocabe & even order some of their products at https://www.tocabe.com/

In the news:

Why Osage Chef Ben Jacobs Launched a Direct-Tribe Meal Delivery Service - Saveur

Tocabe Expands With Line of Native-Made Frozen Meals - Westword

Oweesta Corporation

The Christensen Fund has also committed a $1,000,000 PRI to Oweesta, a corporation committed to investing in Native Sovereignty, to further their leadership and support for Native Community Development Financial Institutions (CDFI.)

Oweesta Corporation, whose name is derived for the Mohawk word for "money," is the longest standing Native CDFI intermediary offering financial products and development services exclusively to Native CDFIs and Native communities, thereby providing opportunities for Native people to develop financial assets and to create wealth. For over 20 years, Oweesta has provided the tools, training, and capital to help Native people control their economic destinies.

Native CDFIs like Oweesta directly provide Native American communities the tools and capital support required for real and sustainable job creation, small business development, commercial real estate development, and affordable housing/home ownership, while also offering basic banking services and financial literacy training to "underbanked" Native American communities who have been historically targeted by predatory lending practices. In their 20+ years in existence, Oweesta has many success stories and The Christensen Fund is proud to support their monumental work for Indigenous enterprises, communities and individuals.

Get to know more about Oweesta and their current projects here: https://www.oweesta.org/

Impact Charitable

Both of these groundbreaking PRIs were set up in collaboration with Impact Charitable, which exists to unite catalytic philanthropists, community partners, financial institutions, foundations, social enterprises, and governmental bodies. Impact Charitable helps close the gaps between the sources of impact-first capital and communities, ventures, and funds who have traditionally faced systemic barriers to accessing critical financial resources. This collaboration with Impact Charitable makes it easy for people to invest alongside us.

If you are interested in joining us in these investments, contact: cindy@impactcharitable.org or shawn@christensenfund.org

In the news:

Impact Charitable Announcement of Oweesta PRI

Purpose Aligned Capital

As part of the Purpose Aligned Capital plan, The Christensen Fund established a Purpose-Aligned Investment portfolio seeking to catalyze Indigenous-focused investment opportunities and enhance the impact of The Christensen Fund's endowed assets. Purpose-Aligned Investments have a dual objective: to further The Christensen Fund's purpose of supporting Indigenous peoples in advancing their inherent rights, dignity, and self-determination, while also meeting the investment objectives for the endowment to sustain The Christensen Fund's grand making and operations.

Together with its outsourced investment office Global Endowment Management (GEM,) The Christensen Fund developed a framework for assessing the Purpose-alignment of any investment opportunity. The framework consists of three factors -- Indigenous leadership, demonstrated engagement with Indigenous communities, and integration of an Indigenous lens in the investment process -- and created a shared language for understanding Purpose-alignment in an investment context.

The Christensen Fund made its first two Purpose-Aligned Investments at the end of 2023 in TAHITO and Raven Indigenous Capital Partners.

TAHITO is an Indigenous-led long-only public equity fund that incorporates a traditional Maori worldview into the fund's investment philosophy and selection process. The fund was co-founded by Temuera Hall, a member of the Ngāti Tūwharetoa and Te Urawa Maori tribes. The investment philosophy centers on the Maori view of the connection and interdependence of all things. Maori ethics put people and the environment first as fundamental to any thriving community. The fund invests in Australian and New Zealand public equities and has a detailed ethical process that includes both positive and negative screens, supporting alignment with The Christensen Fund's values and purpose.

Raven Indigenous Capital Partners is an early-stage venture capital firm led by two Indigenous partners. The Christensen Fund committed to Raven's Opportunities Fund I, which is deploying additional capital into some of Raven's highest conviction portfolio companies in their first fund, which closed at the beginning of 2023. Raven's brand with Indigenous entrepreneurs is unmatched and their focus on supporting Indigenous-led businesses has resulted in ~70% of its portfolio companies having majority Indigenous ownership.