SUMMER 2025 INVESTOR REPORT
I want to change the system with whatever resources I have. That's what keeps me going, is knowing that this is a long journey. It may be difficult right now, and maybe yesterday and tomorrow, but I keep pushing and I see changes, incremental changes. I want our people to be in a position where we are making decisions for the rest of us that look like us.
— Biplaw Rai
August 26, 2025 — Boston, MA
In 2025, Boston Ujima Project, Inc. reached a new milestone in our journey to reshape Boston’s local economy through solidarity and collective investment. With the approval of our 10th democratic loan fund investment, Ujima members voted to support a $300,000 loan to the Boston Neighborhood Community Land Trust (BNCLT), marking the fund’s first-ever investment in affordable housing and community-controlled real estate. The ballot also boasts our highest rate of voter participation to date.
With this vote, we enter a new chapter of member-led investing that recognizes that housing justice and economic justice are inseparable. To support this expansion into real estate, and to deepen our members’ financial fluency, we also launched a new educational offering this year: Ujima’s Home School. Ongoing through Q1 and Q2 of 2025, this workshop series provided members and our wider communities, from Boston to New Orleans, with foundational knowledge about affordable housing policy, community land trusts, real estate investing, and cooperative development. The sessions featured guest speakers from Co.Everything, The Builder Coalition, The Guild, and East Bay Permanent Real Estate Cooperative, peer organizations around the country experimenting with non-extractive housing finance. Topics ranged from how to read pro formas and understand AMI (Area Median Income) numbers, to discussions about speculation, gentrification, and the legacy of redlining.
Participant feedback was overwhelmingly positive. Members appreciated the opportunity to dig into complex material in a welcoming and politicized context. We saw strong turnout from supporters, both old and new, looking for a cultural home that takes education and economic action seriously.
Ujima members uplifted the need for anti-displacement efforts, permanently affordable housing, and creative alternatives to speculative real estate markets. Many called for deeper dives into ownership structures, rent-to-own possibilities, and the intersection of housing with environmental justice, accessibility, and neighborhood planning. Members also emphasized the need to expand our impact, with an eye toward financing cooperative housing and shared-equity homeownership opportunities.
In response, Ujima is exploring how we can expand our investments in the years ahead. This includes internal research, external partnerships, and exploring new avenues for capital investment such as a land and real estate fund, collaborative investments with other mission-aligned funds and lenders, and continued philanthropic partnerships to support early-stage and predevelopment funding for housing and land projects.
We see the BNCLT investment not as a one-off, but as a launchpad. It is the first of many tools we hope to deploy to ensure that our communities are proactively reshaping housing in this city to serve our needs. As we expand our approach, we remain grounded in our founding principles: member governance, non-extractive finance, and solidarity economics rooted in the brilliance and wisdom of Black, brown and working-class communities.
In this edition of the Boston Ujima Project's Summer 2025 Investor Update, we spotlight Biplaw Rai, Ujima’s Restaurant Fellow. We present news about our portfolio companies and UGBA members. Our updated Ujima Fund Pipeline Status and Financial Dashboard pages are available now.
We are grateful to our investors, supporters, and movement partners for trusting us as we step into this new terrain.
In solidarity,
Julia Parker, Managing Director, Ujima Fund
Boston Ujima Project, Inc.
InterviewOver the past year, we’ve covered technical assistance in Ujima’s Good Business Alliance, highlighting how we offer support to businesses in our networks across a bevy of needs and connect our businesses with trusted partners who can offer them legal advising, job training, and much, much more.
To round out our coverage, we took time this summer to speak with Biplaw Rai.
Known well to many in our communities as a co-founder and co-owner of Ujima investee Comfort Kitchen, Rai started work with us last year as our inaugural Restaurant Fellow. He currently offers consulting and coalition-building support to our restaurant businesses, and is embarking upon a research project to support advocacy on behalf of Black and brown small businesses in our neighborhoods. Read to learn about how Rai first came into small business development, what he’s up to now, and how he approaches all of this work with an eye towards the future.
The dream world would be where we are supporting one another, resource-wise, always trying to be the better version of what we were yesterday.
— Biplaw Rai
Portfolio Company
On June 24, 2025, the Ujima Fund announced that we successfully reached quorum on the Boston Neighborhood Community Land Trust investment ballot.
Read more in the ballot results breakdown. Voting Members have approved a $300,000 investment in the land trust’s upcoming affordable home ownership project in Dorchester, MA.
When asked about their motivations for investing in the company, one voter, Anusha said, “I have benefited from affordable homeownership personally, and I think it is very important to increase affordable home ownership opportunities in Boston.”
This ballot set a participation record, with 67.5%, or 162 eligible voters, casting their vote.
Next City covered our recent investment in a community land trust, noting how Ujima is backing a model built to disrupt real estate speculation where traditional lenders remain hesitant. Read more.
Portfolio Company Updates
News and updates from companies in the Ujima Fund portfolio
Learn more and donate here.
CERO’s partnership with BU—now in its fourth year—was recognized with a 2024 Sustainable Purchasing Leadership Council (SPLC) award.
They were recently covered in the Bay State Banner, and thanked many investors and supporters—including the Ujima Fund—for our support.
They continue to receive well-deserved critical acclaim, and were recently named to the Boston Globe's 17 neighborhood restaurants we can’t live without and were named one of the 25 Best Restaurants in Boston Right Now by the New York Times for the second time.
Stay up-to-date on their happenings via their Instagram page and newsletter!
Despite this great news, the Co-Op is still struggling with sales and operational funding, and announced on Friday, August 15th, that they need an increase in sales or their cash reserves for operational costs will run out in two months.
The Co-Op is aiming to raise $500,000 to supplement sales over the next year—donate here, and make sure to spread the word and shop your values with the Co-Op.
The company has also secured additional investment from The Boston Foundation, MassDevelopment, and M&T Bank.
This summer, the restaurant was named as one of the city’s 9 best spots for seafood by the Boston Globe.
In June, they held a wonderful activation at BAMSFest, and in August brought Kidogoville to the 15th Annual African Festival of Boston, bringing their Kidogoville programming into the world and supporting youth education and joy in-person.
Follow their work via their blog page.
Welcome to the Alliance
Four New Businesses We Need and Love Join the UGBA!
Business Alliance Updates
News and updates from Ujima’s Good Business Alliance
Four New Businesses We Need and Love Join the UGBA!
Established in 2017, Fabwright Origins is a millwork and fabrication shop, building custom furniture, cabinetry and more. Learn more here!
Founded in 2023 in the heart of Roxbury, Nubian Markets is more than just a market; Ismail Samad and Yusuf Yassin created Nubian Markets to serve as a hub for Roxbury communities, and hope to honor African history and legacy in our communities. Visit their location at 2565 Washington Street!
Park54 Restaurant & Bar is a Hyde Park-based New American contemporary cuisine in an elevated yet welcoming setting.
Welcome them warmly and visit their location in Hyde Park at 81 Fairmount Avenue; and keep up to date with them via their Instagram page.
Welcome them warmly and visit their location in Hyde Park at 81 Fairmount Avenue; and keep up to date with them via their Instagram page.
Founded in 2021 by Nieisha Deed, PureSpark provides mental health support and resources for Black folks in our communities, and compiles a provider directory, mental wellness strategies, and educational materials for people seeking help.
Business Alliance Updates
News and updates from Ujima’s Good Business Alliance
CommonWealth Kitchen has been awarded a Design Grant from the Hideo Sasaki Foundation to support a bold new vision: A Food Truck Park in Roxbury!
This grant includes a $17,500 stipend and 10 months of design expertise from volunteer Sasaki professionals; their goal is to transform underutilized public space along Malcolm X Boulevard into a vibrant hub for healthy, culturally inclusive food, local entrepreneurship, and community gathering. Learn more here!
On June 26th, DAP presented their work at the Boston Creator Accelerator and Jrue and Lauren Holiday Foundation’s Demo Day Preview, as one of 10 founding members of the first accelerator cohort.
Drochester Art Project recently sponsored this month’s annual SparkFM “Spark The Block” Block Party on August 11th! They also co-hosted last month’s Ujima Cafe at the Dorchester Food Co-Op, holding a conversation and creative mapping session on the future of art in Boston’s communities. Follow them here.
Alongside the Center for Community Investment and Boston Children’s Hospital, DSNI recently co-hosted a Cross-City Exchange on community ownership and land trusts. They also hosted their annual Multicultural Festival on August 9th at Mary Hannon Park.
They added their voice to the community wealth-building conversation with co-authorship of a Next City article, calling on funders to resource community ownership initiatives.
Also, Eastie Farm, in partnership with Piers Park Sailing Center, Veronica Robles Cultural Center, and Maverick Landing Community Services, is offering paid mentorship sessions to support East Boston youth with career planning
Eastie Farm invites volunteers to come to their weekly openhouse! Stop by their greenhouse in East Boston every Wednesday from 5:30-7:30 pm. Check their calendar for additional dates.
This summer, Ujima’s Community Engagement team held two Ujima Cafe pop-up dinners at the Carribean eatery in May. They recently hosted a family-friendly weekend brunch, Neighbors and Mimosas, and will be hosting our fall Ujima Cafes in September.
Hillside Harvest also held a tent at the Black Owned Bos. event in Seaport on August 17th, welcoming passersby and community members to sample and buy their products.
Visit their website here.
They’re now accepting fall reservations for tours; book yours here.
Procurement Initiative
In our March 2023 Investor Report, Boston Ujima Project, Inc. proudly announced the launch of the Ujima Hyperlocal Procurement Initiative, a program designed to strengthen the Ujima Good Business Alliance (UGBA) by directly supporting member businesses through strategic purchasing, consumer organizing, and targeted marketing efforts.
Through this initiative, Ujima actively procures goods and services from UGBA businesses, reinforcing our commitment to circulating dollars within our communities, bridging the gap between investment and long-term business sustainability.
A few recent, notable examples of our Hyperlocal Procurement Initiative include:
The Boston Ujima Project warmly invites our members, investors, and wider communities to join us at our next town hall meeting. We're excited to share updates on the Ujima Fund's latest investments and discuss our strategic plans.
Black Possibilities