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Press release content from Business Wire. The AP news staff was not involved in its creation.

Founders First Capital Partners Launches New Impact Fund to Support Small Businesses Led by Diverse Founders with Guidance from Reynders, McVeigh Capital Management

September 1, 2021 GMT

SAN DIEGO--(BUSINESS WIRE)--Sep 1, 2021--

Founders First Capital Partners recently launched a new impact fund called the Change Catalyst Fund (CCF). The fund, designed in collaboration with socially responsible investment management firm Reynders, McVeigh Capital Management, provides flexible growth capital loans to support expansion and job creation at small businesses led by diverse founders. Founders First defines diverse founders as women, persons of color, LGBTQ+, military veterans, and those in underserved communities. The fund’s typical borrowers are businesses that generate $500,000 to $5 million in annual revenues with the potential to grow to $10 million.

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Three firms supported by Founders First named to 2021 Inc 5000 list

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Three companies that have received support and funding from Founders First have been named to the 2021 Inc 5000 list, the publication’s annual recognition of the 5,000 fastest-growing private companies in the United States. The three companies: Blu Digital Group, JLM Strategic Talent Partners, and OnShore Technology Group are women-led -- two by African American women and one by a LatinX and LGBTQ+ leader.

A unique opportunity to make a difference

“At Founders First, we take great pride in providing a platform that serves groups that have often been overlooked by Silicon Valley and venture capital investors,” says Founders First Founder, Chairperson and CEO Kim Folsom.

Through coaching and peer mentorship programs, Founders First helps diverse-led businesses pursue strategies that will enable them to achieve sustainable, large-scale growth. It also helps businesses obtain the funding that can accelerate that growth.

“The business case for diverse companies is now overwhelming,” she notes. “Having a workplace that is inclusive and supports diversity of thought drives business success, and the recognition by Inc. 5000 of these three companies with diverse leaders demonstrates this. We expect that list will become increasingly diverse, as more of these companies are given the opportunity to scale their businesses.”

Chat Reynders, the Chairman and CEO of Reynders, McVeigh Capital, notes, “With more than $100 million of our clients’ assets deployed in impact investments, we have witnessed increasing investor interest in seeking to have a greater impact, particularly on the social equity front.” He adds, “The Change Catalyst Fund enables investors to support an investment fund and businesses managed by diverse leaders, while potentially earning an attractive level of current income.”

Barbara Clarke, the founder of The Impact Seat, was one of the founding investors in CCF, and the fund’s focus perfectly aligns with the Impact Seat’s mission to support diverse businesses. “We know diversity drives success,” she says. “These companies are continually proving that you can do well by doing good. It’s also clear these businesses warrant increased attention from investors in the private markets.”

About Founders First Capital Partners

Founders First Capital Partners is building a comprehensive ecosystem through its proprietary platform to empower underrepresented founders to become leading premium wage job creators within their communities. We provide revenue-based funding and business acceleration support to service-based small businesses located outside of major capital markets such as Silicon Valley and New York City. We focus on supporting businesses led by women, people of color, and military veterans, inclusive teams, and businesses located in low to moderate-income areas. Our proprietary business accelerator programs, learning platform, and growth methodologies transition these underserved service-based businesses into $5M to $50M recurring revenue, tech-enabled companies while providing, high-yield investments for fund limited partners (LPs) that perform like bonds but generate returns on par with equity investments. Each year, Founders First Capital Partners works with hundreds of entrepreneurs and offers 3 cohort programs through our Founders Business Growth Bootcamp and 4 cohorts through our FastPath Funding Growth Experience program.

About Reynders, McVeigh Capital Management

Reynders, McVeigh Capital Management is a Boston-based investment management firm that manages portfolios comprised of companies that emphasize sound financials and social impact. The firm has more than $3.2 billion in assets under management and an additional $6.8 billion in assets under advisement. Reynders, McVeigh manages individually tailored portfolios by leveraging its proprietary research while emphasizing transparency, discretion, and a due diligence process in support of each investment.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210901005808/en/

CONTACT: Jennifer Compton

J&L Communications

615-969-4737

jennifer@jandlcomms.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES CONSUMER FINANCE

SOURCE: Founders First Capital Partners

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PUB: 09/01/2021 12:33 PM/DISC: 09/01/2021 12:33 PM

http://www.businesswire.com/news/home/20210901005808/en