New Philly-based $50 million private equity fund will invest in women, underrepresented entrepreneurs in Pa., N.J., and beyond
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Media Outlet
Author
Erin Arvedlund
Della Clark, president of the Enterprise Center of West Philadelphia, is raising $50 million for a new, for-profit fund investing in small businesses run by women and underrepresented entrepreneurs in Pennsylvania, New Jersey and other mid-Atlantic states, the founders said Monday.
Clark’s private-equity style Innovate Capital Growth Fund is the latest of several funds aimed at supporting underrepresented entrepreneurs in the wake of George Floyd’s murder and America’s ongoing reckoning with income inequality.
Success Stories
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The $14,000 working capital funding will be used to formalize registration as a home care provider and hire initial staff.
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The Enterprise Center’s Dorrance H. Hamilton Center for Culinary Enterprises (CCE),is a great community to be a part of.
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Success Stories
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When I discovered the MBE Equity Multiplier, I knew it was the missing component that would help make my vision clear. This process has equipped me and given me the confidence to push my vision forward to make it a reality.
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I hope that when it all opens up that everybody goes out and supports our small businesses.
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When they’re given easy opportunities to serve, our citizens really step up.
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Remaining competitive in the current marketplace often requires access to capital at key moments in our business.
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When we first started with The Enterprise Center Capital Corporation, we had maybe 6 or 7 accounts, and we've doubled that now. The Enterprise Center Capital Corporation has been very helpful funding my larger jobs and assisting me with maintaining payroll and buying equipment.
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Success Stories
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The CCE has been a helpful place to get questions answered when dealing with the city, how to create recipes, so we can be more consistent, create a budget, and best of all having other ‘foodprenueurs’ to meet and gain ideas and support in their endeavors.
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Working with the MBE Equity Multiplier team has been life changing. I cannot recommend this service more - I'm still mind blown by how much better our pitch has become.
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As my business moves to the next level, leadership training, and management support that the Enterprise Center provides are keys to achieving greater sales and more contracts.
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I highly recommend the Enterprise Center and MBDA to diverse founders who are seeking capital to scale their businesses.
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