Leapfrog backs digital lender NeoGrowth’s $47 million round

Small and medium-sized businesses are responsible for 30% of India’s GDP but struggle for traditional financing. Mumbai-based NeoGrowth underwrites loans and lines of credit based on businesses’ records of digital payments — a fast-growing way of doing business in the aftermath of the Indian government’s move to reduce the amount of paper currency in circulation. NeoGrowth has

Aspect Ventures raises $181 million for second fund

Melinda Gates and Cisco Systems are investors in the new fund, which is backing women- and minority run businesses but doesn’t call itself an impact investor. Founders Theresia Gouw and Jennifer Fonstad, who launched the firm in 2014, are trying to fight the underrepresentation of women, minorities and other groups in businesses and boardrooms by

The New Revivalists, backing women-run businesses, SoftBank invests in a B Corp

Greetings, ImpactAlpha readers! #Featured: Introducing The New Revivalists The people, places and policies reviving entrepreneurship — and America.A great entrepreneurial awakening is rolling across America. It may not show up yet in the statistics, which put the rate of new business starts at a 40-year low. But the entrepreneurial revival is clearly visible in cities and rural

The New Revivalists: The people, places and policies reviving entrepreneurship — and the American…

New Revivalists is a series from ImpactAlpha and Village Capital profiling the people, places and policies reviving entrepreneurship — and the American Dream. A great entrepreneurial awakening is rolling across America. It may not show up yet in the statistics, which put the rate of new business starts at a 40-year low. But the entrepreneurial revival is clearly visible

Derrick Braziel: Breaking down barriers for Cincinnati’s entrepreneurs of color

  • New Revivalist: Derrick Braziel, co-founder and managing director of MORTAR, a business accelerator for local entrepreneurs of color.
  • Place: Cincinnati, Ohio
  • Mission: “We started MORTAR to connect people with ideas to resources, to create pathways to wealth and to pass that wealth on to future generations.”

First Step Staffing to offer workforce training in Philly

First Step is acquiring part of for-profit On Time Staffing. The Atlanta-based nonprofit provides support to people having trouble finding jobs. Financing for the deal comes from the Investors’ Circle consortium and includes loans from Nonprofit Finance Fund, Reinvestment Fund, Local Initiatives Support Corporation and Philadelphia Industrial Development Corporation. First Step also received grants from the

Bezos donates $33 million to DACA scholarship fund

The Amazon CEO and his wife MacKenzie committed the funds to TheDream. US, a scholarship program for undocumented immigrants in the Deferred Action for Childhood Arrival (DACA) program. Undocumented immigrants are ineligible for federal student aid. Bezos’ contribution will pay for college for 1,000 “Dreamers.”