Meda is a Minnesota-based minority business development organization that provides business development services, access to capital, and corporate and governmental market support for minority entrepreneurs. The organization operates a Community Development Financial Institution (CDFI) and hosts the Minneapolis MBDA Business Center, which has been recognized as a top-performing center. Meda says its clients employ 6,000 Minnesotans and have a combined annual revenue of $1 billion; it has helped launch more than 500 minority businesses and assisted over 20,000 entrepreneurs. To spotlight capital access for minority owners, Meda ran the first-ever national ethnic-minority Million Dollar Challenge, held in St. Paul, which awarded financing to nine companies. Chase served as the presenting sponsor and increased its commitment to the program; the NEXT Fund for Innovation provided the initial $1.0M PRI. Meda also committed additional financing to the program, bringing total awards to $1.475 million to support the winners’ growth.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2019