- Name: Flexible Capital Fund, L3C
- Headquarters: Montpelier, Vt.
- Website: www.flexiblecapitalfund.com
- Investment focus: Climate, energy and electrification, food and agriculture, natural resource conservation
- Investment geographies: North America
- Eligible LPs: Accredited investors, donor-advised funds, family offices, foundations, high net worth individuals, institutional investors
Flexible Capital Fund, L3C is raising $15 million for its Flexible Capital Fund, an impact investing vehicle for growth-stage companies in Vermont and broader New England’s food, forestry, and clean technology businesses. The organization focuses on businesses in rural areas that offer climate solutions and good-paying jobs but lack access to flexible and affordable financing from traditional lenders.
The fund blends subordinated and convertible debt, patient equity and revenue-based financing.
“We’re really trying to provide the best features of debt and equity,” said the Flexible Capital Fund’s Janice St. Onge. “These companies that are preserving our working lands and doing this hard work of feeding us, putting food on the table and reducing carbon emissions – they aren’t getting the capital they need to grow.”
The fund operates as a low-profit limited liability company, or L3C, and is a certified community development financial institution, or CDFI. This allows it to blend investment capital with grants and provide business advisory services. Its lead LP for the fund is the Vermont Community Foundation.
“It’s really about investing in our real communities in New England and ensuring that we’re doing in a way that it’s equitable and building for the future.” said St. Onge.
The Flexible Capital Fund has invested $9 million in 24 companies. Twelve companies are warehoused for its second fund. Notable exits include Encore Renewable Energy, a solar and storage developer, and Vermont Smoke and Cure, a natural meat snack company.
This profile was written with AI assistance. All content is verified and edited by an ImpactAlpha editorial team member prior to publication.
This publication does not constitute investment advice and should not be relied on to make investment decisions.
