$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
National pain points meet local solutions at C3KC; How ‘energy of the day’ can spark lasting change
Editor’s note: The Junior League of Kansas City — through its C3KC conference — is an advertiser with Startland News. Fostering conversations about the most-pressing concerns facing communities not only helps expose the best of Kansas City innovation, said Becky Haddican, it also serves as a catalyst for even greater collaboration in the future. Now in…
AI-generated bedtime stories are just the first chapter in JQ Sirls epic venture to make the publishing industry more inclusive
Every great children’s story deserves the opportunity to be published, JQ Sirls said, adding his own footnote that more people are qualified than they think to create them. “I could put 1,000 people in one room and tell them all to write a short story about their childhood. While many of them may have a…
‘When puppets talk people listen’: It’s not just storytelling anymore for one of KC’s most beloved children’s theaters
A Kansas City arts institution known for years as the Mesner Puppet Theater is animated with new life, said Meghann Henry, detailing a mission pivot for the freshly sewn and rebranded What If Puppets. Evolution at the nonprofit has taken a turn toward early childhood education since the retirement of Paul Mesner in 2016 —…
M25 drops Midwest Madness bracket for best startup hub: 4-seed KC faces up-hill battle (Here’s how to vote)
Bracket update: Since this story’s original publication, Kansas City has advanced to the Midwest Madness bracket’s Round of 32. Voting on Kansas City’s next match-up — against 5-seed Lafayette, Indiana — begins Tuesday, March 21. As sports fans fill out March Madness brackets this week, a Chicago-based venture capital firm is encouraging Midwestern founders, investors…