附近上门

founder and General Partner has closed on a second institutional . Impact America Fund is one of the largest fund raises led by a Black female general partner. This marks a significant increase from the first fund, which closed in 2014 at $10 million.

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The second fund has a large investor base with 67 limited partners. They include several foundations, the , , , 听补苍诲 . The clients of large wealth managers such as , , , 听补苍诲 also invested. And committed capital through its CRA portfolio, which is targeted to make access to capital more inclusive.

The goal of the fund is to invest in companies with an 鈥渙utsized impact on low and moderate income communities,鈥� said Cash in an interview with 附近上门 News. 鈥淓ighty percent of the companies we鈥檝e already invested in are led by a person of color. Seventy percent聽 of them are Black-led. And while explicitly focusing on the diversity of founders is important work, it鈥檚 not our strategy.鈥�

Raising, investing and building

The new fund has had multiple closes with a plan to invest in 25 companies. It has already made 11 investments including:

• — training for senior care professionals.
• — a loan platform for cash shortfalls.
• — a college coaching platform.

Sixty percent of the fund will be reserved for follow-on investing.

Impact America Fund has become known for investing in bridge rounds, according to Cash. This is for companies who want to hit a few more milestones before they raise a Series A from a large notable investor. With cash on their balance sheet they are negotiating from a position of strength.

鈥淚f we’re writing a check in the bridge phase, we believe they’re going to get to the other side, and we’re going to dedicate and devote our time over that,鈥� she said.

The team is nationally distributed with individual members in Southern and Northern California, Washington, D.C., and Chicago. The majority of the current portfolio is on the West Coast.

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