$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
Kauffman Foundation’s Erin Jenkins bounces between contrasting cultures, startup life
Editor’s note: This content was sponsored by the Ewing Marion Kauffman Foundation but independently produced by Startland News. Curiosity took Erin Jenkins to Japan. Curiosity brought her home. In between, she embedded herself in the worlds of intercultural entrepreneurism and startup life — her journey aligning itself with an opportunity to serve as a program officer…
Pride outside: How the outdoor industry is missing out with a $1 trillion LGBTQ+ blind spot
“You can’t be what you can’t see,” said adventurer and speaker Mikah Meyer, quoting activist Marian Wright Edelman last week in Kansas City. Representation of LGBTQ+ consumers and entrepreneurs formed a thematic trail throughout the recent Mid-America Gay & Lesbian Chamber of Commerce awards luncheon where Meyer made keynote remarks. His borrowed quote also reflected…
nbkc launches Entrepreneur in Residence incubator: ‘I have a whole company behind me’
Less than a year after its inaugural Fountain City Fintech accelerator debuted, nbkc bank has launched a new incubator program designed to tackle common banking industry problems with start-up-style ideation, problem solving, and tenacity, said Megan Darnell. The goal: building new companies along the way, the nbkc program manager said. “Kansas City has every single…
Investors, students find potential and power in High School eSports League
Benjie Lewis saw potential in eSports from the beginning — first as a mentor, then an investor, he said. Rapidly evolving from recreational pastime to official leagues and high school sports programs, the competitive multiplayer gaming concept has created a new space for startup opportunity, he said. “When I was growing up … they weren’t…