$1M investment in new impact fund to boost minority and women-owned ventures in KC
December 8, 2020 | Startland News Staff
A $1 million cash injection from The Sunderland Foundation will further efforts to bolster the only impact-oriented, opportunity zone fund focused entirely on Kansas City.
What is equity2?
equity2 is a mission driven impact investment firm committed to deploying capital in inclusive and equitable ways. Formed by AltCap in 2019, equity2 is building on a strong track record of deploying capital in Kansas City’s distressed communities.
equity2 Partners announced the investment Tuesday, marking a significant milestone for the mission driven impact investment firm which has committed to deploying capital in inclusive and equitable ways — especially amid the COVID-19 pandemic — through its equity2 Impact Fund.
“The launch of this new fund could not be more timely. Now more than ever it is important that we invest hometown capital in innovative ways to accelerate financing for underserved businesses,” Randy Vance, president and COO of The Sunderland Foundation, said in a release citing the funds ability to build real equity in Kansas City by further elevating and backing the work of minority and women-owned ventures.
“We know this investment is going to create a stronger and more inclusive regional economy,” he added.
Contributions from the fund are expected to fuel community-focused real estate projects, affordable housing needs, and quality, sought-after and accessible job creation, equity2 said.
Such investments are set to begin in the first quarter of 2021, clustered in the historic Northeast/Paseo Gateway, Central City, Blue River Valley, Swope Park, and Martin City areas, as well as opportunity zones in Wyandotte County.
“This really is one of those unique situations where investors can achieve both the personal financial benefits of a traditional investment, as well as the broader community benefits typically associated with philanthropy,” said Emily Lecuyer, managing director of equity2 and director of impact investments for AltCap.
“We’re excited to work with such a strong institution and to onboard additional partners to make a meaningful and sustained impact in our community.”
Emily Lecuyer, equity2 Partners, AltCap
equity2 was launched by AltCap in 2019, joining the community development financial institution’s fold of programs and resources that has given entrepreneurs access to $250 million in new markets tax credits and $21 million in small business financing since 2005.
The equity2 Impact Fund is open to accredited investors and accepts qualifying capital gains for opportunity zone tax benefits.
Click here to learn more about the equity2 Impact Fund.
Featured Business
2020 Startups to Watch
stats here
Related Posts on Startland News
KC mom’s humble entrepreneurial journey draws on healing power of creativity
Huddled in her parents’ basement, between the cribs of her crying twin babies, Keliah Smith began to draw. She was unemployed and feeling emotionally drained. The relationship with her children’s father had soured. Her escape: the stylus and smartphone in her hands. The Kansas City mother drew what she didn’t see in the mirror, she…
Harvard University recognizes KCMO digital inclusion map
Kansas City’s geographic work to illustrate the area’s digital divide earned high praise from a prestigious university. Harvard University recently highlighted the City of Kansas City, Missouri’s Digital Inclusion map, a tool that — at a block-by-block scale — detail residents’ access to internet connectivity overlaid with poverty levels. “This visualization was chosen as Harvard’s…
Study: Women angel investors more likely to give back to female-led startups
Women support women, a new study of 13,000 North American angel investors says. As more female entrepreneurs have entered the business field in the past few decades, women have begun to reshape the nature of angel investing, according to a report by the Overland Park-based Angel Capital Association. “Being an entrepreneur is one of the…
Bilingual startup Tico Productions brings energy to Chiefs’ Spanish broadcast
When the Chiefs and Raiders meet Sunday at Arrowhead Stadium, more than the usual KC-versus-Oakland rivalry will be at play. The game also puts Kansas City-based Tico Sports’ two Spanish-language broadcast teams head-to-head for the first time. It’s not a competition, said CiCi Rojas, partner and president of Tico Productions, the company behind Tico Sports…