The CDVCA Central Fund currently has almost $6 million that has been invested in conjunction with our member funds through two types of investments: Fund of Funds investments and Co-investment Fund investments.
Fund of Funds investments are made in CDVCA member funds with missions of creating high-quality jobs and wealth, improving the lives of low-income people, and benefiting distressed communities. Co-investment Fund investments are direct equity investments made in partnership with other funds. Companies that meet CDVCA’s financial and social criteria in any industry sector except real estate are eligible.
The investments lead to creation of substantial job opportunities for low-income residents. Our objective is to ensure that more than half of the jobs created go to people with respectively low-incomes (less than 80% of area median) prior to taking the job. We also seek other social returns, such as encouraging minority and women ownership, environmentally sustainable businesses, production of products useful to communities, and the promotion of socially responsible business practices.
CDVCA Central Funds
SJF Ventures – High Growth Positive Impact
SJF Ventures invests in high-growth companies creating a healthier, smarter and cleaner future. Our mission is to catalyze the development of highly successful businesses driving lasting, positive changes. We are experienced venture capital investors who have been at the forefront of impact investing since 1999. We are passionate about generating extraordinary results, creating positive changes, and partnering with visionaries who combine these two. Our team has invested in over 50 ventures, bringing time-tested perspective and expertise to partnerships with entrepreneurs. We are ready and eager to build something special together. SJF Ventures has offices in Durham, New York, San Francisco and Seattle. Through its investment funds, the firm provides equity financings from $1MM to $10MM, solo or in syndicates, to companies seeking growth capital.
CEI Ventures manages socially responsible venture capital funds and helps to grow good jobs, environmentally sustainable enterprises, and shared prosperity in Maine and in rural regions across the country by integrating financing, business and industry expertise, and policy solutions. The company was founded in 1994 to mobilize private capital markets while advancing social goals. To date, we have raised four venture capital funds and have made over $29 million direct investments in 56 companies.
We believe there is value added to financial returns by addressing a multitude of social concerns through all stages of the investment process. We have successfully identified compelling investment opportunities in a range of markets underserved by the financing community. Through investing in these companies, we create quality employment opportunities, especially for people with low to moderate incomes, promote progressive management practices, support socially beneficial products and services, enrich distressed communities, and foster environment sustainability.
By investing in innovative companies exhibiting rapid growth and dynamic transformation or emergence, we build partnerships with passionate entrepreneurs and quality management teams with relevant experience, visionary leadership, and deep commitment. These management teams develop business models to generate rapid growth based upon compelling market opportunities with realistic projections, as well as appropriate enterprise valuation and pragmatic exit plans. Our portfolio companies secure competitive advantages through proprietary technology, intellectual property, and distributions systems, while providing broad reaching social benefits.
Meritus Ventures, L.P. (Meritus) is a $36.4 million venture capital fund formed to make equity investments in private, expansion-stage companies in predominantly rural areas in central and southern Appalachia. In addition, Meritus can provide operational assistance to portfolio companies and prospective portfolio companies. The Fund makes investments in small companies in Tennessee, Kentucky, Arkansas, and the Appalachian counties of Ohio, West Virginia, Virginia, North Carolina, South Carolina, Georgia, Alabama, and Mississippi.
Meritus is a Rural Business Investment Company (RBIC), formed in response to the creation of the Rural Business Investment Program (RBIP) by the U.S. Department of Agriculture (USDA) in 2002. The RBIP was established to promote the establishment of professionally-managed venture capital funds in regions of the country that are not traditionally targeted by venture capital funds. Specifically, the mission of the RBIP is to promote economic development and the creation of wealth and job opportunities in rural areas of the United States.
The Fund’s mission is to generate market-rate returns for its investors while promoting shared and sustainable business growth and wealth creation throughout its target region. The Fund will invest $250,000 – $2,500,000 in companies with strong management teams, high growth potential, and defensible competitive advantages. The Fund Managers also add value to the Fund’s portfolio companies through operational assistance, active board participation, and mentoring.
Pacific Community Ventures – PCV
Pacific Community Ventures a 501(c)(3) nonprofit community development financial institution, believes that by investing in small businesses and making markets work for social good we can create thriving communities where everyone has a fair shake. Our mission is to strengthen small businesses, strengthen communities, and create good jobs and better livelihoods for working people. We achieve our mission through a combination of fair lending, free mentorship, skilled volunteerism, and s impact investing consulting services. Our “Loans + Advice” fund provides affordable small business loans to bridge the “missing middle” between startup capital and financing from banks: $10,000–$200,000. We don’t require a minimum credit score, and specialize in working with small business owners who’ve had a hard time accessing capital, like female entrepreneurs, immigrant entrepreneurs, entrepreneurs of color, and borrowers that may have been turned down for SBA or traditional bank loans.
Our Business Advising program connects small business owners with expert advisors who help them meet their challenge and seize new opportunities. We put volunteerism to work for local communities by managing a national network of seasoned entrepreneurs and skilled professionals who want to use their hard-earned business knowhow to create more opportunity in our communities. Pacific Community Ventures leverages technology to provide small business owners with high-quality mentoring, at no cost. All advice is completely free and completely confidential. Both programs are supported and enhanced by our impact investing research and consulting practice, which provides strategy consulting, impact measurement, management and evaluation, conducts field-building research, and develops tools to help business owners create higher-quality jobs.
Bridges Fund Management (United Kingdom)
We partner with exceptional management teams who believe, like us, that business and investment can help to resolve our biggest social and environmental challenges.
Bridges Fund Management is a specialist fund manager focused exclusively on sustainable and impact investment, with offices in London, New York and San Francisco. Since 2002, we have raised over £900m to invest in SMEs, properties and social sector organisations that are helping to tackle some of society’s biggest challenges, with a focus on four themes: health & well-being, education & skills, sustainable living and underserved markets.
We have shown that finding solutions to these challenges can unlock a substantial commercial opportunity. Our capital – financial, human and intellectual – helps our partners to realise this huge potential.
Across our platform of funds, we are committed to providing capital that makes a difference – to our partners and to the wider world.