The N.C. Community Development Initiative will pilot a new program to make equity investments in early-stage companies that create jobs and economic growth in low-income communities in North Carolina.
The board of directors of Initiative Capital, the Initiative’s lending arm, approved a $100,000 fund it will use to make small equity investments over the next two years in collaboration with N.C.’s new chapter of the Investors’ Circle.
The Initiative is a founding institutional member of the new state chapter of the Investors’ Circle, a national organization of angel investors that provides patient capital to early-stage companies that have a social impact mission.
“Our recent market analysis shows there is a great need for equity capital for early-stage businesses in our state,” said Meena Ahuja, senior program officer for the Initiative. “We hope that our involvement in the Investors’ Circle will enable us to expand into that area of need and have real impact in terms of job creation, economic recovery and green innovations.”
The pilot program will allow Initiative Capital to test small equity investments and build the expertise it needs to make effective investments that will create jobs and economic growth in underserved communities as well as build a revenue stream that will ensure its long-term sustainability.
Early-stage companies are invited to submit their financials, business plans and other relevant documents for consideration. Selected companies will be invited to make their case for investment before a group of investors who may choose to invest in companies that match their values and objectives.
Initiative Capital seeks companies that address social and environmental change issues in North Carolina, such as:
- Quality job creation
- Environment improvements
- Innovation in healthcare and wellness
- Innovation in education
Companies who seek investment should contact Ahuja at (919) 835-6006 or firstname.lastname@example.org.
The N.C. Community Development Initiative leads North Carolina’s collaborative community economic development effort, driving innovation, investment and action to create prosperous, sustainable communities. For more information, visit www.ncinitiative.org.