Category: Member News

CDFI Recertification Update

CDFI Recertification Update

The CDFI Coalition sent a letter to the CDFI Fund regarding the certification/recertification process on March 21, 2013. The Coalition requested that the CDFI Fund take steps to ensure that no CDFI was de-certified without notice of potential deficiencies in their recertification applications and an opportunity to cure deficiencies. As stated in our letter, which…

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SJF Ventures Raises its Third Fund with $90 Million

SJF Ventures Raises its Third Fund with $90 Million

SJF Ventures conducted the final closing on its third fund with more than $90MM in capital commitments, tripling the size of the previous $28MM second fund. The target for SJF Ventures III was $75MM and the fund was substantially oversubscribed at its final April closing. “We are honored that so many investors choose to join our partnership,” said…

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Community Development Investment Review Highlights New Social Impact Bonds – “Pay for Success”

Community Development Investment Review Highlights New Social Impact Bonds – “Pay for Success”

Social Impact Bonds (Pay for Success) offer an attractive alternative to the status quo of paying for programs instead of results. Despite our best efforts, the poverty rate today is roughly what it was when the War on Poverty began in 1964. We are winning important battles but losing the war. A new social policy paradigm…

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Bridges Ventures launches new Social Impact Bond Fund

Bridges Ventures launches new Social Impact Bond Fund

Bridges Ventures (Bridges) and Big Society Capital have today announced the launch of the Bridges Social Impact Bond Fund. The first of its kind, the fund will invest in charities and social enterprises to deliver programmes designed to improve social outcomes in areas such as education, employment, housing and care for vulnerable young people. The…

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SBA Innovation Chief Sean Greene becomes Entrepreneur in Residence at the Case Foundation

SBA Innovation Chief Sean Greene becomes Entrepreneur in Residence at the Case Foundation

The Case Foundation announced today that Sean Greene has joined the organization as Entrepreneur in Residence. Having spent more than 20 years as an entrepreneur and investor, Mr. Greene most recently served as Associate Administrator for Investment and Special Advisor for Innovation at the U.S. Small Business Administration (SBA). At the SBA, Mr. Greene was…

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The Effect of Dodd-Frank on the Ability of Banks to Invest in CDVC Funds

The Effect of Dodd-Frank on the Ability of Banks to Invest in CDVC Funds

Several of our member funds, as well as some bank investors, have asked us about the effect of the Financial Stability Act of 2010 (“Dodd-Frank”) on the ability of banks to invest in  CDVC funds.  This post answers that question and provides some background. CDVCA worked closely with the bank regulatory agencies—with special thanks to…

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Meritus Ventures Featured on April 21, 2013 Episode of Fox Business Network’s Business Update

Meritus Ventures Featured on April 21, 2013 Episode of Fox Business Network’s Business Update

  London, KY and Oak Ridge, TN – Meritus Ventures will be featured on an episode of Business Update this coming Sunday, April 21, 2013 at 5:00 p.m. EDT on Fox Business Network. Meritus Ventures is the only Rural Business Investment Company (RBIC) in the United States.  The $36.5M venture capital fund invests to realize attractive returns for…

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Meritus Ventures, CDVCA Member Fund, releases Video Update on Appalachian Community Development

Meritus Ventures, CDVCA Member Fund, releases Video Update on Appalachian Community Development

Meritus Ventures is a $36.4 million venture capital fund formed to make equity investments in private, expansion-stage companies in rural areas of central and southern Appalachia. Meritus provides operational assistance to portfolio companies and prospective portfolio companies. Meritus makes investments in small companies in Tennessee, Kentucky, Arkansas, and the Appalachian counties of Ohio, West Virginia,…

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Meritus/SAF’s Grady Vanderhoofven serving at Yale Leadership Council

Meritus/SAF’s Grady Vanderhoofven serving at Yale Leadership Council

Congratulations to Grady Vanderhoofven, co-founder and co-manager of two venture capital funds–Meritus Ventures (Meritus) and Southern Appalachian Fund (SAF)–who has accepted an invitation to serve on the Yale University School of Engineering & Applied Science Leadership Council led by T. Kyle Vanderlick, Dean of the School and the Thomas E. Golden, Jr. Professor of Engineering.…

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Advantage Capital invests $7.2M in 3DR Laboratories

Advantage Capital invests $7.2M in 3DR Laboratories

Advantage Capital Partners has invested $7.2 million in 3DR Laboratories, Inc., an advanced visualization lab that provides three-dimensional (3D) imaging services to hospitals, image centers and teleradiology firms. 3DR Laboratories provides 3D images by processing CT scans and MRIs performed at hospitals and other health care facilities. Since 2004, 3DR has grown to become the…

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