$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
C2FO’s $200M challenge: Prove the fintech startup is worthy of KC’s biggest investments
A record-busting $200 million investment announced Wednesday easily tops C2FO’s previous headline-grabbing funding rounds, but now the Kansas City fintech mega startup must live up to the hype, said Sandy Kemper. “Investments are always forward-looking,” said Kemper, founder and CEO of C2FO. “Our job is to make sure that we’re living up to our ability…
BREAKING: C2FO closes $200M investment led by backer of WeWork, Uber, Slack
Startup giant C2FO continues its climb to the top, having secured a new $200 million investment — and doubling the amount of its once-record funding raise in fewer than two years. “We are very fortunate to have a team who, for years, has delivered industry-leading unit economics, extraordinary customer satisfaction, and strong global growth,” Sandy…
As healthcare pivots to value based service, Helix Health uses data analytics to reduce costs
Prevention is cheaper than cure — a sentiment forming the foundation of Helix Health, said Anurag Patel. “The business of healthcare today is that if you’re sick, then you’re a customer of healthcare. If you’re healthy, then you’re not,” Patel said, describing a need for creating a business model that helps people stay healthy. Helix Health…
Watch: Tigersheep Friends creators build a ferociously off-beat, under-the-radar KC brand
From three-eyed leopards to strawberry cream giraffes, the creative minds behind Tigersheep Friends love illustrating off-beat versions of animals to keep their artistic passions alive, said Sarah Walsh. When the husband-and-wife duo started the company in 2011, they were looking for an alternate creative outlet, said Sarah Walsh, co-founder of the online product line. Click…