Young sexual minority women disproportionately experience pregnancy, repeat pregnancy, and become parents, when compared with their heterosexual peers. Black sexual minority women who are socioeconomically disadvantaged are a part of three demographic groups likely to experience adolescent pregnancy. A paucity of research has examined why these young women become pregnant. The authors begin to address this gap by examining the meaning of pregnancy from young women’s perspective. Modified grounded theory was used to analyze data from interviews with 14 young Black sexual minority women, aged 16–24. Pregnancies, intentional and unintentional, were common among the participants and within their sexual minority community. Pregnancy affirmed sexual identity and same-sex relationships as well as garnered sexual and reproductive agency. Participants’ pregnancy experiences contradicted the belief that young women sought or valued pregnancy because it provided access to heterosexual privilege. Although the main functions of intentional pregnancies did not differ drastically from those of young heterosexual women, we argue that these young women’s pregnancy and parenting desires may be magnified because of the particular realities they face as sexual minority women. Further, we situate our analysis within the context of a Black cultural environment and argue that pregnancy and motherhood may be adaptive subsistence strategies for women who are largely socially devalued.