Business North: Entrepreneur Fund receives $9 million from philanthropist MacKenzie Scott

The Entrepreneur Fund (EFund) has received an extraordinary $9 million unrestricted gift from Yield Giving, an organization established by billionaire philanthropist MacKenzie Scott. This investment will allow EFund to further its mission of supporting small businesses and driving economic growth in underserved communities across Minnesota and Wisconsin, the Duluth-based group said.

The donation was received on Sept. 5, and was part of Yield Giving’s “Quiet Research” process, in which the organization conducts in-depth, private research to identify nonprofits with “high potential for sustained positive impact.” EFund was selected without submitting an application or solicitation, and the gift comes with no restrictions, allowing the organization full discretion in its use.

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