We are thrilled to announce that the Community Development Venture Capital Alliance (CDVCA) has been awarded a $20 million New Markets Tax Credit (NMTC) allocation by the U.S. Department of Treasury’s Community Development Financial Institutions Fund. CDVCA’s investment strategy is unusual among New Markets recipients, financing operating businesses—rather than real estate projects—and often providing them true venture capital equity investments through an innovative fund structure. CDVCA’s six NMTC awards since 2011 have allowed us to finance over 60 businesses in low-income communities throughout the nation, creating 2,357 good jobs accessible to low-income people.
