Category: CDVCA Ventures Blog

Puerto Rico Fund for Growth invests in Semillero Investment Fund I

Puerto Rico Fund for Growth invests in Semillero Investment Fund I

The Community Development Venture Capital Alliance (CDVCA) is pleased to announce that the Puerto Rico Fund for Growth, L.P. has invested $4 million in Semillero Investment Fund I, LLC (“Semillero”), an agribusiness, private equity fund based on the island. Semillero will focus on investing in sustainable food and agriculture businesses with a view to substitute…

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CDFI Fund Releases Summary Report on NMTC Program

CDFI Fund Releases Summary Report on NMTC Program

The CDFI Fund recently released its summary report on the NMTC Program, providing an analysis of all reported NMTC investment activity and including breakdowns by sector, geography, and investment type (real estate vs. non-real estate; rural vs. metro areas). Of the investments made under the program, over 75% meet at least one category of Severe Distress*.…

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Tune in: Podcast on Small Businesses and First-time Fund Managers as true drivers of Economic Growth

Tune in: Podcast on Small Businesses and First-time Fund Managers as true drivers of Economic Growth

As a guest on Impact Alpha’s Return on Investment podcast, Village Capital President, Ross Baird, discusses his new book, “The Innovation Blind Spot,” making the case for small businesses as the true engines of economic growth and pointing to smaller funds and first-time fund managers that are outperforming their mainstream counterparts. To listen to the…

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NMTC Coalition publishes report on the impact of NMTCs on Rural America

NMTC Coalition publishes report on the impact of NMTCs on Rural America

The NMTC Coalition released its 2017 report on the impact of New Market Tax Credits (NMTCs) on Rural America. According to the report (relying on data from 2003-2014), the NMTC program has financed over 800 projects and generated almost 50,000 full-time jobs. Also, for the same period,  $4.8 billion in funding, or 27% of total…

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Pacific Community Ventures releases monthly Good Jobs Recap

Pacific Community Ventures releases monthly Good Jobs Recap

On August 31st, Pacific Community Ventures (PCV) released its Good Jobs Recap for the month of August. Key topics include an updates on wages and the demographic distribution of employment opportunities in the US manufacturing sector. PCV also cites a report by Walmart and the Boston Consulting Group that proposes solutions to adressing the job…

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Novogradac NMTC Working Group submits recommendations to Senate Committee

Novogradac NMTC Working Group submits recommendations to Senate Committee

In line with its efforts to address regulatory and administrative issues of the New Markets Tax Credit (NMTC) program, the Novogradac NMTC Group submitted recommendations to the Senate Finance Committee last August 2017. Among its recommendations were obtaining permanency for the NMTC program, increasing the program’s annual credit authority, and modifying the recapture rules to…

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Innovate fund Incubator Lab wins big in Worlds Largest Business Competition

Innovate fund Incubator Lab wins big in Worlds Largest Business Competition

On October 29th 2015, two Innovate fund investments were named winners of the World’s Largest Business Idea Competition, “43North“, in which $5mm is awarded to 11 businesses as $250K-$1M investments along with business support. The business support ranges from mentoring advice from seasoned professionals in related fields, free incubator space in Buffalo for a year,…

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Bridges Ventures Investment Goes Public

Bridges Ventures Investment Goes Public

On Monday November 9th, The Gym Group, a portfolio company of Bridges Ventures Sustainable Growth Fund II (Bridges II), made an initial public offering of its stock on the London Stock Exchange, at a valuation of £250million. The Gym’s shares rose to 204¼p on its first day of trading, or 5% above the 195p issuance price.

US Labor Department Releases New Guidance Note on Economically Targeted Investments for Pension Funds

US Labor Department Releases New Guidance Note on Economically Targeted Investments for Pension Funds

On October 22, 2015, the U.S. Department of Labor (DOL) issued Interpretive Bulletin 2015-01 (“IB 15-01”), which provides clarification on the conditions under which a fiduciary of a plan that is subject to the fiduciary standards of the Employee Retirement Income Security Act of 1974 (“ERISA”) may invest plan assets in economically targeted investments (“ETIs”). Put simply, the conditions required for ERISA pension funds to able to invest in ETIs.

Register Now for the Opportunity Finance Network Conference

Register Now for the Opportunity Finance Network Conference

In less than two weeks, innovative CDFI practitioners will gather for the OFN Conference. Register today for a chance to enjoy sessions such as: CDFI Public Policy Initiatives Roundtable Tuesday, November 10 White House briefings? The Office of Management and Budget? Why do these things matter when we are in the business of responsible lending?…

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