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Finance

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BRENTWOOD, Tenn. — Relevance Ventures, a Native American-owned venture capital firm based near Nashville, has been selected by Inc. Magazine for its fourth annual Founder-Friendly Investors list. 

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PITTSBURGH, Pa. — Chrystel Cornelius, the president and CEO of Longmont, Colo.-based Oweesta Corporation, an intermediary for Native community development financial institutions, has been selected as the recipient of the prestigious 27th Heinz Award for the Economy. 

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BRENTWOOD, Tenn. — Native American-owned venture capital fund Relevance Ventures led the $10 million Series A round of funding in Rootine, a Nashville, Tenn.-based precision health startup. 

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MINNEAPOLIS, Minn. — Brown Venture Group LLC, a venture capital firm founded to invest in Black, Latinx and Indigenous technology startups, has received a new commitment of up to $1.5 million from the St. Paul, Minn.-based Bush Foundation.

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TULSA, Okla. — An Indigenous-owned company aims to harness the power of technology to change how Native Americans bank, and in some cases, provide them banking and financial services for the first time. 

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Even with a 30-percent increase in allocated funding, the Treasury Department will fail to meet the demand from Native community development financial institutions for the next fiscal year. 

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Proposed bank regulatory changes could unlock new sources of capital in Indian Country and signal what Native advocates describe as “major progress” in their decades-long push for representation. 

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HERMON, Maine — When it came time for civil engineer Troy Devoe to expand his screen printing hobby into a full-time business, he turned to a familiar financial adviser for help. 

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Patrice Kunesh has a unique perspective on the effects that Native community financial development institutions have across Indian Country. 

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With this multimedia reporting project, Tribal Business News is examining the crucial role Native Community Development Financial Institutions (CDFIs) play in supporting small business formation and growth in Native American communities.