The NJ FAM Fund is created for Black and Latinx-led or -owned businesses (meaning the company has ownership that is 50.1% or more Black or Latinx -owned or has a majority of Black or Latinx board members or persons exercising similar functions or is predominantly serving the Black and Latinx communities in New Jersey by having a majority of Black or Latinx customers and/or operations). The NJ FAM Fund targets Black and Latinx-led or -owned businesses, but is not the only requirement reviewed when making funding decisions. The NJ FAM Fund management committee comprehensively looks at the overall impact and the financial wherewithal of each investment.