Momentus Capital Closes $171 Million Equitable Prosperity Fund to Drive Positive Social Impact in Underestimated Communities
One of the largest BIPOC-led impact investing funds, the Equitable Prosperity Fund I, will seek to help accelerate the growth of companies that are creating positive impact in underserved communities.
MAY 14, 2024 (Arlington, VA/San Diego, CA) – The Momentus Capital branded family of organizations is proud to announce the final closing of its inaugural fund, the Equitable Prosperity Fund I LP (the “Equitable Prosperity Fund” or the “Fund”), one of the largest BIPOC-led impact investing funds, with commitments of $171 million.
The Fund’s investments are intended to help growth-stage companies create more social impact in their communities, focusing on outcomes such as increasing access to healthcare and healthy foods, while supporting employee ownership and diverse entrepreneurs.
Through the Equitable Prosperity Fund, the Momentus Capital branded family of organizations will be able to provide opportunities that are rarely available for many entrepreneurs, particularly those who are often underserved and have received a mere fraction of the venture funding available in recent years.
Fund investments are specifically designed to provide entrepreneurs with options beyond traditional debt, and to ensure that they maintain control of their companies.
“The Equitable Prosperity Fund will fill a market gap by offering non-dilutive growth capital to support the growth of entrepreneurs ready to scale positive impact in communities,” said Ellis Carr, president and CEO of Capital Impact Partners and CDC Small Business Finance. Capital Impact Partners and CDC Small Business Finance are each part of the Momentus Capital branded family of organizations, which also includes their affiliates, Momentus Direct Capital, Momentus Securities (a FINRA-member broker/dealer), and Ventures Lending Technologies.
