SBA Licenses First Nationwide Impact Investment Fund
by Sean Greene, SBA Official
- Created: March 8, 2012, 4:39 pm
Today we are pleased to announce that SBA has licensed our first nationally-focused Impact Investment Fund, SJF Ventures III, LP.
The fund will make equity investments in growth-stage clean-tech and positive-impact companies in targeted clean energy businesses nationwide. It is part of the President’s Startup America initiative aimed at helping small businesses create new jobs and drive innovation and competitiveness.
SJF Ventures III, LP is yet another important new ally in SBA’s commitment to foster small business growth and job creation. The fund has an experienced team that is well-positioned to drive more investment in clean energy small businesses and SBA is committed to continue to grow this and other public-private partnerships by licensing more funds and putting more capital in the hands of small business owners to grow and create good jobs.
SJF Ventures invests growth equity in companies with strong financial, community and environmental results. SJF’s areas of focus include: efficiency and infrastructure; reuse and recycling; sustainable agriculture and food safety; and, technology enhanced services. Citi Community Capital (Citi), the community development lending and investing group of Citi, is the lead investor in SJF Ventures III,LP, an unleveraged Small Business Investment Company (SBIC) fund. The fund is committing up to $75 million of investment capital over the next five years to high-growth businesses. For more information on SJF Ventures please visit http://www.sjfventures.com/.
The Impact Investment Initiative is part of Startup America, a White House initiative to bring together public and private organizations to accelerate the growth of America’s entrepreneurs. It will use the infrastructure of the SBA’s Small Business Investment Company Program (SBIC), an established and successful program that operates at no cost to taxpayers. In FY 2011, the SBIC program provided $2.8 billion of financing to 1,339 U.S. small businesses.
High-growth firms are a small part of the small business community, but they create a large number of net new jobs each year. The Impact Investment Initiative will help high-growth companies receive the funding they need to continue to expand and create jobs in America’s underserved communities and priority sectors. For more information on the Impact Investment Initiative please visit http://www.sba.gov/content/impact-investment-initiative.
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