$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
Nickel & Dime supplement club relocates to KC, aims to disprove industry stereotypes
Startup nutrients like location, atmosphere and opportunity have proven the right dosage to lure another young company to Kansas City, said Ben Harris. “[Our move] allows us to ship two days domestically anywhere in the United States,” the co-founder of Nickel & Dime supplement club said. Launched by Harris and co-founder, Michael Giangregorio earlier this…
LaunchKC lands keynote speaker from NASA; Techweek queries two Google developer advocates
Pitch Day for LaunchKC is expected to lift off next month with an opening keynote address from NASA executive Kira Blackwell. Remarks are expected to delve into NASA iTech, a year-long effort to find innovative ideas that address challenges and fill gaps in five critical areas identified by the space agency as having a potential impact…
CBD startup: Young father sees Native Hemp Co. as the launch of a health revolution
At 21 years old, Rich Dunfield IV felt like an absentee father, he said. Struck in his prime with painful ailments after a tick bite — nerve and belly problems, anxiety and depression — he was home but not present. “My entire life was rooted in fatherhood. I started young, but I embraced it. Lyme…
New Lawrence Blade & Timber just the edge of Swell Spark’s ongoing brand evolution
A newly opened Lawrence Blade & Timber — well-positioned on the college town’s popular Massachusetts Street — features the axe-throwing brand’s first “retailtainment” concept. It’s a reflection of parent company Swell Spark’s ongoing push to keep Blade & Timber (as well as the Choir Bar and Breakout businesses) fresh amid an increasingly crowded experience-based entertainment…