$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
Cassie Taylor is just getting queerer and weirder (and thanks to a wild 72 hours, she’s now a Playboy Bunny)
Be your authentic self, said Cassie Taylor, even if that means losing people along the way. “The biggest thing I’ve learned in the music industry is that if you’re not authentic, it is not sustainable — you’ll burn out fast. During the pandemic, I lost a lot of friends because I was very vocal about…
Pitch contest winners salute PHKC as fourth cohort wraps; $15K in prizes awarded to small businesses
A winning night at The Porter House KC’s pitch event this week expands opportunity for more than just the company taking home the biggest check, said Taylor Burris. AI Hub — led by Burris and her husband, James Spikes — earned first place and $8,000 in the competition, which also marked the completion of PHKC’s…
KCRise Fund closes $34M Fund III with ‘hyper-local’ focus; Here are its first four investments
A third venture capital fund — expected to invest $34 million in 20 more tech startups across the Kansas City region — builds on KCRise Fund’s thesis that high-growth local companies are the key to investor success, said Ed Frindt. It’s a competitive advantage that swells with each wave of funding, he added, announcing the…
These makers and vendors aren’t buying the scarcity mindset: ‘There’s a way for us all to eat’
A new vendor fair aims to unite people from all corners of the city and promote collaboration among the local vendor community, said entrepreneur and event organizer Dontavious Young. “I see a lot of events in Kansas City that are geared toward a specific type of crowd, or a specific type of culture, or a…