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INVESTING IN UNDERSERVED BUSINESSES
- Identify and process investment prospects from the following underserved socio-economic groups:
- African-American business owners
- Hispanic-American business owners
- Asian-American business owners
- Women business owners
- Disabled veteran business owners
- Counsel candidates from underserved groups through the Fund’s investment process
- Increase employment of persons from underserved populations into portfolio companies
- Increase business locations and activity in designated economic development zones
PROCESS
- Leverage targeted referrals from the Funds existing business network
- Significant reliance on guidance from Funds Advisory Group on Underserved Entrepreneurs (see Advisory Group slide)
- Collaborate with CRA Officers of banks invested in Limited Partnership
- Establish liaison relationships with public & private economic development organizations in the operating regions where Fund operates that provide services to underserved business owners
- Participate in conferences, workshops, and special programs that liaison organization sponsor for underserved populations
EXPERIENCE OF THE MANAGING DIRECTORS
Our Managing Directors have developed a career record that incorporates working with underserved business and persons. For example:
- Philip Smith - Dating back to the genesis of venture Capital at CitiBank, Phil undertook responsibility for managing the bank’s financing programs serving minority groups. Furthermore, he has provided financial backing to underserved businesses that became successful enterprises (Essense, etc.)
- John R. Nelson - John has been the CEO of Corporation that was certified as an SBA 8(a) company (Pro-Lysts, Inc.)
that was owned and controlled by racial/ethnic minorities. He was Acting Director of the Ethnic Studies Program at the University of Oregon, and his career has maintained an emphasis on underserved businesses to the present time.
NAME |
ROLE |
CCP ROLE |
AFFINITY |
Don Jacobs |
Co-Chmn |
Fund Advisor |
Black Male; Former Banking Exec (BoA, etc.); high-tech entrepreneur; managed “8(a)” minority companies; created & managed business development organizations in CA, FL, & GA |
Glenn Sharpe |
Co-Chmn |
Fund Advisor |
Black Male; Banking Exec (retiring from top tier bank in early 2008); experience with CRA & underserved lending |
Cynthia Trevino |
Advisor |
Fund Venture Partner |
Latina Female; Ex-AT&T Exec; entrepreneur |
Jim Butz |
Advisor |
Fund Venture Partner |
Disabled Veteran; Ex-Lucent Exec; entrepreneur |
Edward Lewis |
Advisor |
Fund Advisor |
Black Male; Former Publishing Exec (Founder/CEO of Essence, acquired by Time-Warner, etc.); entrepreneur and philanthropist |
Devon Blaine |
Advisor |
Fund Venture Partner |
Female; 20+ years BOD of LA Venture Assoc; entrepreneur; prominent in regional Womens’ business development organizations |
Kim Davis King |
Advisor |
Fund Venture Partner |
Black Female; 12 years as venture capitalist |
Lee Petillon |
Advisor |
Chmn: Fund BOA |
White Male; prominent LA attorney; long-term roles in community development and equal opportunity programs (MESBIC, SSBIC, business development ctrs, et. al.) |
WRJ Group |
Advisor |
Fund Advisor |
Jill Dominguez: Latina Female; has served as Director of Economic Development for New Economics for Women COO, for Operation Hope, and Founder of Innovative Business accelerator in Los Angeles; entrepreneur active in micro-lending programs; establishing small business credit; management training. |
Phil Borden |
Advisor |
CEO of Active Capital |
White Male; prior Director of SBA’s Womens’ Business Development Ctrs |
Shohei Sakazaki |
Advisor |
Fund Venture Partner |
Asian Male, 15 years as Venture Capitalist |
Ram Natarajan |
Advisor |
Fund Advisor |
Asian Male; Business development & tech-transfer executive; entrepreneur |
- Within 2 hours travel time of the 3 CalCap offices are some of the greatest concentrations of the underserved populations within the U.S.
- Enterprises owned and/or managed by members of the underserved groups are under-represented in the technology-based industries and as enterprises receiving venture capital investments
- Over the past year, passive sources of deal-flow to CalCap has resulted in 20%-25% of our filtered and qualified investment prospects to be represented by underserved entrepreneurs. Through pro-active measures, we target and increase in this proportion to greater than 50%
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