- Even before Opportunity Zone legislation arrived last year, providing tax incentives for investments into low-income neighborhoods, Launch Pad had begun the expansion of its New Orleans co-working space and business incubator to Newark, Nashville and Memphis.
- Now the firm has raised a $1.33 million seed round to jumpstart its expansion inside Opportunity Zones around the country.
ImpactAlpha, February 13 – French impact investor Investisseurs & Partenaires has reached a second close for its I&P Afrique Entrepreneurs 2 fund. The fund, which invests in African startups working on issues related to the U.N. Sustainable Development Goals, has raised €75 million ($84.4 million) since launching in late 2017. Investisseurs & Partenaires (I&P) manages
- Nordic Microfinance Initiative, Serum Institute of India’s Adar Poonawalla and other investors backed the Mumbai-based microlender.
- The new funding will provide exits for early investors, which include Michael & Susan Dell Foundation, Bamboo Capital Partners, venture capitalist Sajid Fazalbhoy and angel investor Rajiv Dadlani.
- São Paulo-based Adianta allows small and medium-sized businesses in Brazil to access same-day credit and working capital through its online platform.
- Cape Town-based Newtown Partners and Lion Pride Investment Holdings in Johannesburg have announced plans to raise and co-manage a ZAR500 million ($37.4 million) fund that will in invest in small and medium-sized South African enterprises.
- "Many Opportunity Zone investors may not be so responsive to their communities, and will instead seek to change the character of a neighborhood by building luxury apartments or destination retail," writes Turner Impact Capital's Bobby Turner. "Fulfilling the spirit of the Opportunity Zone ideal means pulling people up, not pushing people out.
- The 215 companies that have graduated from Agora's program have a 94% survival rate and have collectively raised $86 million. More than half have been women-run.