The Sherman Family Foundation Acquisition Fund has launched at Frieze New York, providing $50,000 annually to help US museums acquire works from the fair's Focus section, which features solo stands by galleries under 12 years old. In its first year, the Baltimore Museum of Art acquired works by Reika Takebayashi, Seba Calfuqueo, and Joanne Burke, while the Brooklyn Museum acquired two works by Bettina (Bettina Grossman). Each artist also receives an unrestricted $5,000 award.
This fund matters because it directly supports emerging artists and young galleries by facilitating museum acquisitions—a critical milestone for early-career artists—and strengthens institutional collections with fresh, contemporary work. By tying philanthropic support to a major art fair, it also models a new way for foundations to engage with the art market and foster long-term artist-gallery relationships.