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Today, she is the founder and CEO at Founders First Capital Partners, a San Diego startup investment firm that uses a non-traditional approach to funding called revenue-based investment to. Founders First Capital Partners, an accelerator and investment firm that provides revenue-based financing to businesses led by "underrepresented entrepreneurs" operating in underserved markets . It does not store any personal data. [email protected], The Rockefeller Foundation Required fields are marked *. Principals Dave Johnson and Mark Smith work alongside their development partners to raise capital for high net land investment opportunities throughout Texas. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Stagwell (STGW) Omnichannel Media Agency Assembly Appoints Bria, G-P Names Vernon Irvin Chief Revenue Officer, ExxonMobil Appoints John D. Harris II to its, JPMorgan Chase Appoints Alicia Wilson as Managing Director, Foot Locker, Inc. Appoints Elliott Rodgers as Chief, 2021 Most Influential Black Corporate Directors, 2022 Most Influential Black Executives in Corporate America. Founders First has supported over 400 companies in the past five years, helping them achieve an average of 25% year over year growth. +1 (646) 465-0885 Founded: 2015 CEO: Kim Folsom Location: Sorrento Valley Employees: 30 Companies Funded: 550 Committed Capital: $135 million Website: www.foundersfirstcapitalpartners.com Notable: CEO Kim Folsom's fist exposure to finance was lending money she made working in her school kitchen to her brother, who paid her back with interest. Analytical cookies are used to understand how visitors interact with the website. More than 83% of entrepreneurs do not have ready access to bank loans or venture capital, according to a report by the Kauffman Foundationand access to capital presents an even greater challenge for people of color, women and individuals in possession of limited wealth. The cookie is used to store the user consent for the cookies in the category "Performance". Founders First CDC initially launched the Job Creator Quest Grant program in 2021 to help businesses amid the pandemic, specifically targeting areas like Texas, Chicago, Philadelphia, New Jersey, and Southern California. Additionally, Spring Point Partners, Kauffman Foundation through the Capital Access Lab Fund at Impact Assets, LivingCities Blended Catalyst Fund, The Impact Seat, and Lindmor Foundation as additional investors of the recent financing. In order to qualify for the grantswhich more than 2,500 businesses in the Lone Star State applied forfounders needed to be a person of color, indigenous, LGBTQIA+, a military veteran, or a woman with a for-profit business in a low to moderate income area. Businesses also needed to show annual revenues between $100,000 and $3 million. Durch Klicken auf Alle akzeptieren erklren Sie sich damit einverstanden, dass Yahoo und unsere Partner Ihre personenbezogenen Daten verarbeiten und Technologien wie Cookies nutzen, um personalisierte Anzeigen und Inhalte zu zeigen, zur Messung von Anzeigen und Inhalten, um mehr ber die Zielgruppe zu erfahren sowie fr die Entwicklung von Produkten. Click the link above to continue or CANCEL. Image Credit: Sie knnen Ihre Einstellungen jederzeit ndern. This means that the total TriNet Discount is $11,040 and the cost for the Bootcamp program for eligible TriNet clients is $960! Upgrade to at least the. . Contact information. This cookie is set by GDPR Cookie Consent plugin. SAN DIEGO, September 13, 2022 -- ( BUSINESS WIRE )--Founders First is excited to announce that seven of its member companies have been named to this year's Inc. 5000 list of America's. Helping companies grow and scale through strategic advisory and revenue-based investment. Aimbridge manages 1,500 hotels in 49 states and 20 countries. Founders First is addressing this paradigm by offering businesses revenue-based financing, an innovative funding instrument that generally requires entrepreneurs to pay a fixed percentage of revenue up to a predetermined cap. Each year, Founders First Capital Partners works with hundreds of entrepreneurs and offers 3 cohort programs through our Founders Business Growth Bootcamp and 4 cohorts through our FastPath Funding Growth Experience program. We are founders just like you. To recover, grow and thrive, access to capital is critical, Michelle Thomas, executive director and head of philanthropy for JPMorgan Chase in Texas, said in a statement. The Rockefeller Foundation advances new frontiers of science, data, and innovation to solve global challenges related to health, food, power, and economic mobility. EXCLUSIVE FOUNDERS FIRST MEMBERSHIP FOR TRINET CLIENTS. SAN DIEGO, CA | Nov. 9, 2021 - Founders First Capital Partners (Founders First), the nation's leading revenue-based finance and advisory investment platform for underserved and diverse-led small businesses, today announced it has closed a $11 million Series A financing round. 85% of all consumers trust online reviews just as much as they do personal recommendations. [Photo courtesy of BLACKLIT]. Founders First Capital Partners is building a comprehensive ecosystem through its proprietary platform to empower underrepresented founders to become leading premium wage job creators within their communities. About White men who are running $1 million to $5 million companies are likely to know up to a hundred people who are also running $1 million to $5 million businesses. Youve found Dallas Innovates archive of news briefs from July to September 2021. As part of her commitment to ensure diverse future tech leadership, Ms. Folsom co-founded a STEM and Robotics enrichment program to benefit underrepresented middle school children living in Southern California. The funding will also allow Founders First to expand into new regions across the United States.. Co-founder The Founders First mission cuts across many of The Rockefeller Foundations priorities and helps drive their commitment to helping Black, brown, and Latinx businesses overcome the Covid-19 crisis and break down barriers to accessing capital and credit, and providing critical guidance, training programs, networking opportunities, and financial assistance. Comment * document.getElementById("comment").setAttribute( "id", "a99f477116e3dce885285314c5783a4c" );document.getElementById("f3fdf30d74").setAttribute( "id", "comment" ); Save my name, email, and website in this browser for the next time I comment. Helping accelerate business growth through our Revenue-Based Funding products . +1 (973) 900-3897 And unfortunately, this gap does not close as firms mature. Along with its accelerator program, Founders First Capital Partners offers businesses revenue-based financing, an innovative funding mechanism that generally requires entrepreneurs to pay a fixed percentage of revenue up to a predetermined cap. Kim Folsom, founder and CEO of Founders First, reportedly remarked that her company is thrilled to have support from global social impact leaders such as The Rockefeller Foundation. San Diego, California (CA) 92121. That funding came on the heels of the investment platform landing a $100 million credit facility from Community Investment Management. M2G Customers make reviews of their own accord their opinions are not for sale. We believe its an investment that will provide social and financial returns for years to come.. As part of her mission to help entrepreneurs build sustainable businesses, Ms. Folsom teaches as an adjunct professor of entrepreneurship and business strategy at National University School of Business and Management. Headquartered in McKinney, Texas, Horizon Capital Partners LLC is a privately held real estate investment firm. BE 100s A total of $100,000 will be awarded to 30 small businesses: $10,000 grant, $5,000 grant, $2,500 grants, $1,500 grants. Founders First provides education, resources, and revenue-based financing to businesses led by minority, military veterans, or women founders. Kim Folsom is the co-founder and CEO of Founders First Capital Partners, LLC, (FFCP) a revenue-based investment and advisory support investment platform. Hidden Gems: Local Businesses & Creatives You Should Know, VoyageLA Podcast: Puja Mohindra | Writer, Director, Actor. Take advantage of other customers' experiences: ProvenExpert's authenticated customer reviews can help you choose the right product or service. Dies geschieht in Ihren Datenschutzeinstellungen. You may opt-out by. NEWSLETTERJoin the largest national platform for growing small businesses led by diverse founders. Weve worked with more than 200 companies since our founding and have been so impressed with their performance. Until recently, I never thought it would Voyage is excited to present episode 4 of The Introverted Entrepreneur Success Stories show with our wonderful host and sales expert You are going to love our next episode where Whitley interviews the incredibly successful, articulate and inspiring Monica Stockhausen. In 2017, the foundation launched a $100 million commitment to impact investing that works alongside its grantmaking. If you Los Angeles is an incredible city - but it's so large and so vast and so diverse that all of us are missing out on tons of great people, businesses, organizations, events and more. Women of Power Summit She earned her MBA degree from the University of Pepperdine and a bachelors degree in information systems a minor in economics from San Diego State University. Phone: 212-557-0010. It is known for advances in various sectors, including science, data, and innovation to solve global challenges. We specified working with companies that are either service-based or commerical manufacturers. I write about diversity and inclusion in and out of the workplace. Has it been a smooth road? In the newly created role, Agarwal will deliver family office solutions to ultra-high-net-worth families in partnership with private bank-private client advisors and client teams. A collaboration of the Dallas Regional Chamber and Dallas Next, Dallas Innovates is an online news platform covering what's new + next in Dallas - Fort Worth innovation. This solution offers small businesses an attractive alternative that aligns with business performance, self-liquidates, and avoids ownership dilution for small business proprietors. Our company is focused on growing and funding main street businesses that have been ignored or underappreciated by the traditional funding resources. As a science-driven philanthropy focused on building collaborative relationships with partners and grantees, The Rockefeller Foundation seeks to inspire and foster large-scale human impact that promotes the well-being of humanity throughout the world by identifying and accelerating breakthrough solutions, ideas, and conversations. We provide revenue-based funding and business acceleration support to service-based small businesses located outside of major capital markets such as Silicon Valley and New York City. Founders First focuses on these groups because they have been dramatically underrepresented in the ranks of business leadership. BIPOC-owned small businesses were hit hardest by the COVID-19 pandemic, facing systemic barriers to accessing critical safety net support. B.E. Sign up to keep your eye on whats new and next in Dallas-Fort Worth, every day. How do you think the industry will change over the next decade? We are excited to expand into Chicago and begin working with the talented entrepreneurs of the area to provide them with programs and funding to help them grow, said Kim Folsom, founder and CEO of Founders First Capital Partners. The first Chicago business to receive funding is OnShore Technology Group, an independent validation and verification firm specializing in the development and delivery of innovative products and services that power lean validation processes. The Meta Map is the one-stop shop to explore all features that EcoMap Tech has to offer We work in your neighborhood by providing local resources. We are proud to support Founders First Capital Partners to reach this important funding milestone and their work to bridge the financial and cultural funding gap for small businesses. Johnson currently serves on the U.S. Travel Association (USTA) board as a member of the Chairmans Circle and as a member of USTAs CEO Roundtable. Contact Directions. SistersInc. Close. Email Finder Find email from name. Prior to Horizon Capital, he founded Aimbridge Hospitality and served as CEO from 2003-2021. Kim Folsom is the co-founder and CEO of Founders First Capital Partners, LLC, (FFCP) a revenue-based investment and advisory support investment platform. But when you compare that number to folks of color, its more like $10,000 to $25,000, says Folsom. Fourteen local businesses led by diverse founders have landed a financial boost to build out their teams. Founders First Capital Partners now offers term loans of up to $2 million to diverse-led small to medium-sized businesses like yours. Founders First is committed to increasing the number of diverse founder-led businesses generating over $1 million dollars in revenues and creating premium wage jobs. This Series A will accelerate the deployment of Founders Firsts $100 million credit facility from Community Investment Management to fund 400 companies, The Surdna Foundation stated. Tell us more about the business. 200 Madison Avenue, 25th Floor The cookie is used to store the user consent for the cookies in the category "Analytics". cnx.cmd.push(function() { The money for the San Diego, California-based fund for. Contact person. Through his dedication and leadership, Aimbridge is recognized as the premier hotel management company in the world, with an impressive portfolio of assets under ownership and management from Marriott, Hilton, Hyatt, IHG, Choice and Wyndham. Masthead, Economic Equity & Racial Justice Townhall Series, Elevate Black Podcast sponsored by Fifth Third Bank, 100 Founders of Change by American Express, Chasing Success Podcast by JP Morgan Chase, Black Business Month Sponsored by Nationwide, 2022 Registry Of Corporate Directors Listing, 2021 BE Registry Of Corporate Directors Listing. https://foundersfirstcapitalpartners.com/, Founders First raises $9 million to invest in diverse founders. Founders First Capital Partners, LLC (Founders First) is expanding its support for businesses led by underserved and underrepresented entrepreneurs to the Greater Chicago area. Founders First Capital Partners, an accelerator and investment firm that provides revenue-based financing for small businesses, has received $100 million in debt funding, allowing it to expand. }).render('ba25868856a746c68da2b09b1b55bc48'); Founders First Capital Partners, LLC ("Founders First") is expanding its support for businesses led by underserved and underrepresented entrepreneurs to the Greater Chicago area. The pandemic has shed light on the long-standing financing issues that disproportionally impact minority-owned businesses. What Do ADHD, Long Covid And Ehlers Danlos Have In Common? We plan to continue to grow strategically in Chicago to become the leading resource for underrepresented founders in the region., Valarie King-Bailey, CEO of OnShore Technology Group, shares, OnShore is currently experiencing a growth trajectory as we continue to deliver innovations that power computer systems validation and software assurance for life sciences companies across the globe. But opting out of some of these cookies may affect your browsing experience. Through Founders First Capital Partners proprietary business accelerator programs, learning platform, and growth methodologies, underserved service-based businesses grow into profitable, tech-enabled companies. This cookie is set by GDPR Cookie Consent plugin. Even before the pandemic, minority-led small businesses were woefully underfunded, lacking the financing qualifications for both traditional banks and venture capital funds. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Email and Phone Finder Software; Features. customer service, consulting) to be reviewed. Lack of access to capital is often cited as one of the primary barriers facing minority entrepreneurs and those in underserved markets. The grants target industries ranging from health care and hospitality to STEM and manufacturing. Position your company to win mid-market and large organization enterprise clients, Potentially experience 25% business growth year over year, Get an in-depth assessment of your company's financial health, Be considered for flexible growth funding, Leverage the expertise of entrepreneurial leadership: One-on-one strategic planning with the Founders First CEO & Program facilitators to review your custom growth playbook. United States of America. Every day we have a choice. Horizon Capital works with the entire land development ecosystem from landowners to brokers, developers, construction management firms, city leaders and officials, planning and zoning committees, and more to bring value to our investments and surrounding communities. Businesses awarded with the grants will use the funding to help create one to two premium wage jobs over the next year. The new $100 million fund will help finance 500 companies, which will receive an average of $250,000 each. Prior to Horizon Capital, he founded Aimbridge . Before devoting her energies to entrepreneurship, Ms. Folsom was an executive at National Dispatch Center, Luce Forward and Alltel Systematics and Great American First. We are excited and honored by the commitment to our mission from Founders First Capital Partners and will use this strategic investment to fuel our continued growth and innovation.. These cookies track visitors across websites and collect information to provide customized ads. Founders First Capital Partners, Llc Email, Phone Number, Employees, Competitors. Founders First focuses on helping small businesses led by diverse and disadvantaged business owners located in low to moderate income areas less connected to the traditional funding networks of Silicon Valley and New York City. Here are our editors' picks. Black-owned businesses closed at nearly twice the rate as firms overall at the onset of the pandemic, according to arecent reportby the Federal Reserve Bank of New York, fueled in part by structural barriers to accessing financing at traditional banks and institutions that administered relief programs like the Paycheck Protection Program (PPP). Invalid characters. Its Okay For Me Not To Be Okay: Natasha Bowman Opens Up About Living With Bipolar Disorder. Founders First invested a total of $1 million in its initial 2016 target fund, with each company selected receiving an average of $125,000. 9920 Pacific Heights Blvd, Ste 430. Send email. Diverse founders are defined as those companies led by women, military veterans, LGBTQ+ and Black, Indigenous, and People of Color (BIPOC) founders, offering them more flexible growth capital than traditional bank debt. Founders First Capital Partners is building a comprehensive ecosystem through its proprietary platform to empower underrepresented founders to become leading premium wage job creators within their communities. Founders First CDC does not endorse the information, content, presentation or accuracy of any other website and claims no responsibility for it. Suggest a story: VoyageLA is built on recommendations from the community; its how we uncover hidden gems, so if you or someone you know deserves recognition please let us know here. Diverse founders are defined as those companies led by women, military veterans, LGBTQ+ and Black, Indigenous, and People of Color (BIPOC) founders, offering them more flexible growth capital than traditional bank debt. All Right Reserved. If you do not have an access code, you can request. Today, she is the founder and CEO at Founders First Capital Partners, a San Diego startup investment firm that uses a non-traditional approach to funding called revenue-based investment to. I have always been a square pleg trying to fit into a round hole. Quality assurance is the top priority of ProvenExpert's terms of use and evaluation guidelines. You also have the option to opt-out of these cookies. In addition to The Rockefeller Foundation and the Surdna Foundation, investors include Kauffman Foundation through the Capital Access Lab Fund at ImpactAssets, LivingCities Blended Catalyst Fund, Spring Point Partners, The Impact Seat and Lindmor Foundation. Find emails from LinkedIn. And the content of reviews cannot be influenced by money or by any other means. Our proprietary business accelerator programs, learning platform, and growth methodologies transition these underserved service-based businesses into $5M to $50M recurring revenue, tech-enabled companies while providing, high-yield investments for fund limited partners (LPs) that perform like bonds but generate returns on par with equity investments. By clicking Accept, you consent to the use of ALL the cookies. Johnson was recognized as a finalist for the Ernst & Young 2014 Entrepreneur of the Year. : Apply for an accelerator for startups with industrial and manufacturing tech. FFCP is focused on partnering with employer-based, contract revenue generating small businesses ($250K to $5M), to provide them with flexible and non-dilutive funding, expertise and resources to achieve exponential growth in underserved communities. Principals Dave Johnson and Mark Smith work alongside their development partners to raise capital for high net land investment opportunities throughout Texas. 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For over five generations, Surdna has been governed largely by descendants of John Andrus and has developed a tradition of innovative service for those in need of help or opportunity. Mark received his bachelors degree from Southwest Texas State University in Accounting. As a social entrepreneur, Ms. Folsom is dedicated to leveraging the power of market forces and sound business practices to address disparities in revenue and job growth among businesses led by underrepresented founders. For over five generations, the Foundation has been governed largely by descendants of John Andrus and has developed a tradition of innovative service for those in need of help or opportunity. They are always lots of friction as I have advanced in my entrepreneurial journey but I have been able to learn quickly and build the right relationships to advance my mission and objectives. Chrome Extension Our flagship chrome extension. With the goal of helping underserved business owners grow their businesses while bolstering the local economy, nonprofit Founders First CDC has announced the Texas-based recipients of its latest round of Job Creators Quest Grants. Founders First Capital Partners, LLC. The road back is a long one for local small businesses hit hard by the pandemic. Explore in Dallas Business Ecosystem. Please complete the field highlighted in red. First Capital Partners is a junior capital investment firm that provides mezzanine debt and equity to companies with revenues of $10 to $100 million and EBITDA of $2 to $10 million.We offer a broad range of financing solutions, from mezzanine debt to making minority and majority equity investments using a combination of mezzanine debt and equity. Business Essential Webinar: How to Be Fundable! Community Investment Management, a San Francisco-based impact investment asset manager, provided the funding. This way you get a detailed overview of your service quality in all areas. Founders First Capital Partners(Founders First) announced its initial close for a$9 million Series A financing led by The Rockefeller Foundation and the Surdna Foundation to support underfunded and underrepresented entrepreneurs. Michelle Stansbury Subscribe to Newsletter Get RBF eBook Capital Partners. This Series A will accelerate the deployment of Founders Firsts $100 million credit facility from Community Investment Management to fund 400 companies. VoyageLA wants to highlight the best of LA - from freelance makeup artists that will dazzle you to the best Meetup groups in town. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. For TriNet clients meeting the minimum revenue requirements for the Bootcamp program, Founders First has created a TriNet/Founders First Membership Discount of $10,800 plus 20% off of the remaining tuition fee. Nia-Tayler Clark, the founder of BLACKLIT and winner of the GEW Fort Worth 2021 Pitch, is one of the recipients of the Founders First CDC grants. Minority-owned firms are disproportionately rejected when they apply for additional credit and, on average, new black-owned businesses start with almost three times less capital than new white-owned businesses, according to a study analyzing the impact of race on entrepreneurial success. Pre-Register for the Chicago Job Creators Quest Grant Today. Maria Kozloski, senior vice president of The Rockefeller Foundations Innovative Finance Initiative, stated that The Foundations investment will support the expansion of Founders First and thereby funding for underserved entrepreneurs who for too long have lacked adequate access to traditional funding networks. . Black Men XCEL Learn More Revenue-Based Financing Ideal for repeat revenue companies Non-dilutive, you keep control Personal credit score isn't a barrier Learn how Revenue-Based Financing works. The Surdna Foundation also mentioned that of the more than 400 companies that completed the Founders First programs, 83% reported increased revenues in 12 months, while 53% reported increased revenues by 25% in just six months. }); EVENTS Additional partners for the recent Job Creator Quest Grants include ADP, Black Enterprise Magazine, JP Morgan Chase, The Kauffman Foundation, African American Chamber of San Antonio, Bank OZK, BCL of Texas, Dallas BUILD Network, Divinc, Dallas Fort Worth MSDC, Fort Worth Hispanic Chamber of Commerce, Sesh Coworking, Impact Ventures, ICIC, Houston Hispanic Network, Lift Fund, PeopleFund, Margin Institute, Mogul Millennial, Surdna Foundation, The Common Desk, The DEC, The Mass Challenge, INNW, Veteran Womens Enterprise Center, and the Womens Business Council and Wisdom Consulting. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. New York, NY 10016 | National lender serving BIPOC, veteran, LGBTQ+, & women-owned businesses, as well as businesses in LMI zones & those committed to diverse hiring practices. Through this expansion, Founders First will become one of the countrys largest revenue-based finance and advisory support investment platforms for underserved small businesses. Yet, they oftentimes struggle due to limited access to networks and the financing necessary to stay afloat.. Entrepreneurs Summit We support the largest segment of companies and the fastest-growing group of entrepreneurs, those that are women, ethnic minorities, military veterans, LGBTQ communities and those located in low to moderate income areas. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Founders First Capital Partners Main Industry Finance Website www.foundersfirstcapitalpartners.com Contact Information Headquarters 9920 Pacific Heights Blvd, Ste 430, San Diego, California, 92121, United States (858) 264-4102 San Diego, California Office 6305 Lusk Blvd, San Diego, California, 92121, United States (858) 264-4102 When youre passionate about something, youll always find a way to make it happen. Their mission is to empower underserved groups of business owners by providing them with access to growth capital, expertise, and resources to enable them to build sustainable, profitable, and accretive legacy businesses. Together, we will create high-quality jobs and increase wealth in underserved communities., Of the more than 400 companies that have gone through the Founders First programs, 83% reported increased revenues in 12 months and 53% reported increased revenues by 25% in 6 months. Entrepreneurs who receive financing must take part in a structured educational program that offers training in job creation, scaling a company and other small business skills. Founders First Capital Partners | 3,698 followers on LinkedIn. North Texas has plenty to see, hear, and watch. http://foundersfirstcapitalpartners.com Industries Financial Services Company size 11-50 employees Headquarters San Diego, California Type Privately Held Founded 2015 Specialties Revenue Based. Youve found Dallas Innovates archive of news briefs from October to December 2021. We provide revenue-based funding and, Want to add more sources? playerId: '4c4274f6-883d-4331-88d6-3a01a54156b9' Your email address will not be published. Founders First is building an innovative platform that bridges a massive financing gap for US small businesses,says Thomas Belazis, Principal on The Rockefeller Foundations Innovative Finance Initiative. It is essential to our mission that we seek out and include people of color, women, veterans and LGBTQ founders. Diverse entrepreneurs are pivotal to the success of their communities, as they provide accessible goods and services, and create jobs, Patrice Green, interim director of inclusive economies at the Surdna Foundation, said in a statement. Horizon Capital Investments6950 TPC Drive, Suite 120 McKinney, Texas 75070, For more information, please contact:[email protected]. We are excited to unlock the companys potential to disrupt the capital access challenge facing millions of minority entrepreneurs.. +1 (619) 663-9704 https://foundersfirstcapitalpartners.com/ About The Rockefeller Foundation Big things coming! As co-founder and managing partner of Horizon Capital, Mark is responsible for all business operations, including creating and fulfillment of strategic relationships, sourcing new land investment opportunities, and overseeing day-to-day business activities. Davina Dukuly The announcement revealed that the financing seeks to position businesses for scale, but also to demonstrate the value proposition in supporting minority-led small businesses. Were honored to offer additional funding to assist in their growth and the overall health of the communities they serve., The nonprofitaffiliated with San Diego-based finance and advisory investment platform Founders First Capital Partners, which has offices in Dallas said the recipients will collectively receive $100,000 in cash and full-tuition scholarships to its business accelerator program, aimed at empowering the expansion of diverse founder-led, revenue-generating businesses.. Since 1970, BLACK ENTERPRISE has provided essential business information and advice to professionals, corporate executives, entrepreneurs, and decision makers. Plus, you'll find our selections to "save the date.". They provide revenue-based funding and business acceleration support to service-based small businesses located outside of major capital markets such Founders First Capital Partners. Together, we will support these entrepreneurs and their mission to expand. In a focused effort to support underfunded and underrepresented entrepreneurs, Founders First Capital Partners (Founders First) announced its initial close of a $9 million Series A financing led by the Surdna Foundation and The Rockefeller Foundation, according to statements provided by The Surdna Foundation and Founders First. Launched in partnership with the John D. and Catherine T. MacArthur Foundation through the Catalytic Capital Consortium (C3), the Zero Gap Fund is a vehicle to channel private investment toward addressing the worlds most pressing challenges. Management Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. We have reached a critical inflection point exposing the urgency of leveling the capital access playing field for these businesses which are key engines of growth in their communities,says Maria Kozloski, Senior Vice President of The Rockefeller Foundations Innovative Finance Initiative. She has raised more than $30 million in institutional venture financing, created over 500 premium wage jobs and has founded or served as a key executive for multiple successful ventures, including showUhow (acquired by Sellpoints), DriveCam (now Lytx) and Seminarsource. [email protected], The Surdna Foundation Since their founding in 2015 the firm has provided funding and growth support to over 200 companies. Which survey would you like to participate in? It said it plans to make investments in 25 veteran-owned small businesses, with a deadline to apply by October 18. We want to get to the point where we have a thousand new companies that we take in every year, Folsom says. With this financing, Founders First plans to launch its Fast Path Program, a lending initiative that targets companies generating between $1 million and $5 million in annual revenue, and needing up to $1 million in growth capital. As the backbone of our economy, its critical that these business owners receive the help they need to maintain and sustain operations, Shaylon Scott, executive director at Founders First CDC said in a statement. Fostering sustainable communities in the United States communities guided by principles of social justice and distinguished by healthy environments, inclusive economies, and thriving cultures. cnx({ The cookie is used to store the user consent for the cookies in the category "Other. This funding is part of The Rockefeller Foundations Zero Gap Fund. This cookie is set by GDPR Cookie Consent plugin. So lets switch gears a bit and go into the Founders First Capital Partners story. business acceleration support to service-based small businesses located outside of major capital markets such as Silicon Valley and New York City. Community Matters. These cookies ensure basic functionalities and security features of the website, anonymously. Only numbers and space characters are possible. Necessary cookies are absolutely essential for the website to function properly. The nonprofitaffiliated with San Diego-based finance and advisory investment platform Founders First Capital Partners, which has offices in Dallas said the recipients will collectively receive $100,000 in cash and full-tuition scholarships to its business accelerator program, aimed at empowering the "expansion of diverse founder-led . on the firms partnership with UT Southwestern Medical Centers Center for Depression Research and Clinical Care. Fort Worth-based real estate and development firm M2G Ventures raised more than $260,000 at its third annual fundraising gala, Art of the Mind, benefitting UT Southwestern Medical Centers Center for Depression Research and Clinical Care. Bank of America announced that Dallas Harsh Agarwal has joined the company as a managing director and family office strategist. Each year, Founders First Capital Partners works with hundreds of entrepreneurs and offers 3 cohort programs through our Founders Business Growth Bootcamp and 4 cohorts through our FastPath Funding Growth Experience program. With this investment we can greatly increase our reach to diverse business owners who are poised for high growth but arent a fit for venture capital or have the assets to meet traditional lending requirements., Investing in businesses led by founders of color is one of the most effective ways to drive job and wealth creation and address long-standing racial inequities,says Shuaib Siddiqui, Director of Impact Investing at the Surdna Foundation. We focus on underrepresented businesses because theres a huge financial opportunity, but theres also a capital gap.. Founders First Capital Partners today announced it has raised $9 million to invest in underrepresented entrepreneurs and communities. Meet The Mast Cell. ABOUT These quotable North Texans inspire, inform, motivate, or simply make us laugh. Our structured programs are uniquely designed to meet the growth requirements of companies depending on their annual revenues. NEW! Media Contacts:Founders First Capital Partners This solution offers small businesses a highly attractive alternative that aligns with business performance, self-liquidates, and does not dilute ownership from business proprietors representing underserved backgrounds and communities. Previously, he has served on the Strategic Hotels (NYSE: BEE) Board as a member of the Audit Committee and Corporate Governance Committee from 2012 to 2016, and served as a Director of Gaylord Entertainment (GET-NYSE) from 2009-2012. Education is an important component of Founders Firsts funding initiative. Underrepresented groups are also less likely to have a network of high net worth individuals that they can leverage. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". With nearly 40 years of combined experience and expertise, Johnson and Smith are deeply embedded in the booming North and Central Texas real estate markets, along with their strong and effective network of land development experts. The financing seeks not only to position businesses for scale, but also to demonstrate the value proposition in supporting minority-led small businesses. Jessica Miller Essl ProvenExpert allows the entire service spectrum of a company (e.g. The Foundations investment will support the expansion of Founders First and thereby funding of underserved entrepreneurs who for too long have lacked adequate access to traditional funding networks. The mission at Founders First is to accelerate the success of small businesses run by diverse leaders such as people of color, women, military veterans, LGBTQ founders, and businesses in HUBZones. Elizabeth Cahill We understand the challenges you endure and can provide meaningful assistance to help you grow your business. https://foundersfirstcapitalpartners.com/. The investment firm largely focuses on businesses led by people of color, women and military veterans, along with companies located in low- to moderate-income locationsall of which have less access to the traditional funding networks of Silicon Valley and New York, says Kim Folsom, Founders First cofounder and CEO. Founders First provides education, resources, and revenue-based financing to businesses led by minority, military veterans, or women founders. Kim Folsom set out to change that dynamic with the founding of Founders First Capital Partners. Funding for the Job Creator Quest effort came from a $1 million Rockefeller Foundation grant, in addition to financing from an $11 million Series A funding round led by the Rockefeller Foundation and the Surdna Foundation that Founders First Capital Partners raised last February. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Daten ber Ihr Gert und Ihre Internetverbindung, wie Ihre IP-Adresse, Browsing- und Suchaktivitten bei der Nutzung von Yahoo Websites und -Apps. This cookie is set by GDPR Cookie Consent plugin. We want to be the Amazon that solves the problem of there being such a small percentage of underrepresented founders with companies that generate over $1 million., This is a BETA experience. You'll find deadlines coming up for a new accelerator program; and many more opportunities. FFCP is the largest private provider of growth funding for service-based businesses and the only minority and women-led, revenue-based venture platform with $100M in committed capital. ProvenExpert is free, independent, ad-free, and neutral. FFCP is the largest private provider of growth funding for service-based businesses and the only minority and women-led, revenue-based venture platform with $100M in committed capital. It said it intended to use the facility to provide non-dilutive, revenue-based financing to underrepresented founders with check sizes averaging around $250,000. BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. Headquartered in McKinney, Texas, Horizon Capital Partners LLC is a privately held real estate investment firm. Subscribe to our Newsletter for new blog posts, event announcements & new photos. Registry of Corporate Directors. Founders First has committed to investing five million dollars into Chicago area businesses. Experiences with other service providers in the industry Services. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Herschel Walkers Loss In Georgia Senate Runoff Shows Why Tokenizing Black People Usually Fails, Help For Managers Who Have Good Intentions For Building An Inclusive Relationship With Direct Reports, What Deion Sanders Departure From Jackson State Could Mean For The Business Of HBCU Athletics, Texthelp Chief Exec Martin McKay Talks Neurodiversity, Free Read&Write App In New Interview, Firing Trends: What November's Jobs Report And Tech Layoffs Mean For DEI, Businesses Ended Their Relationships With Kanye West I Must, Too. Seabim - Sea Breeze International Management Corp. Emerging Research Focused on ROI Offers a Resounding Yes, Economic Analyst Says, Glowing Example: Pioneer Tower Restoration in Fort Worth Earns Preservation Award, Bank of America Adds Managing Director, Family Office Strategist, Society Restaurants (DBA The Empanada) (Allen), Allied Supply Chain Support & Services (Dallas), Annie Admin Virtual Assistants (Fort Worth), Newhouse Transportation Services (Fort Worth), North Texas Entrepreneur Education and Training (North Richland Hills). Your email address will not be published. Your Money, Your Life, LATEST LISTS Together, we will create high-quality jobs and increase wealth in underserved communities, said Kozloski. In addition to unveiling the latest batch of grant recipients, Founders First CDC also announced a new grant opportunity, called the Stephen L. Tadlock Fund, to help veteran-owned businesses. In a focused effort to support underfunded and underrepresented entrepreneurs, Founders First Capital Partners (Founders First) announced its initial close of a $9 million Series A financing. Founders First Capital Partners' leadership team. FoundersFirstCDC 2021 All rights Reserved. The program will launch in January 2020 in San Diego. LinkedIn Email Finder. Founders Firs t Capital Partners LLC. @2020 - SavoyNetwork.com. Privacy Policy Johnson is a graduate of Northeastern Illinois University, where he received a bachelors degree in Business Economics. !function(n){if(!window.cnx){window.cnx={},window.cnx.cmd=[];var t=n.createElement('iframe');t.display='none',t.onload=function(){var n=t.contentWindow.document,c=n.createElement('script');c.src='//cd.connatix.com/connatix.player.js',c.setAttribute('async','1'),c.setAttribute('type','text/javascript'),n.body.appendChild(c)},n.head.appendChild(t)}}(document); Previous article Before founding Aimbridge Hospitality, Johnson spent 17 years at Wyndham International, where he helped add over 400 hotels to the Wyndham portfolio. The funding will also allow Founders First to expand into new regions across the United States. The cookies is used to store the user consent for the cookies in the category "Necessary". [email protected]. We are thrilled to have the support of global social impact leaders like The Rockefeller Foundation to advance the mission of Founders First,says Kim Folsom, Founder and CEO of Founders First Capital Partners. Nearly half of the 30 businesses are based in the Dallas-Fort Worth area. Founders First Capital Partners: Revenue-based lending and advisory support platform addressing equity gaps by training and funding businesses with diverse leaders. We may be in commercial real estate, but at the heart of our company isinnovation., Calendar: Not-to-Miss Events for Innovators in Dallas-Fort Worth, North Texas Entrepreneur Education and Training, Women's Business Council and Wisdom Consulting, The Last Word: MG2 Co-Founder Jessica Miller Essl On the Firms Mental Health Initiative and Partnership with UTSW, Fort Worths M2G Ventures Raises Over $700,000 for Depression Research, The Last Word: Noni ngel on the Sustainable Bees at BCBSTX Headquarters, Is College Worth It? Learn more atwww.surdna.org/impact-investing. Additionally, he served as President of Wyndham Hotels, overseeing approximately 15,000 employees and $3 billion in annual revenue. We Are Inclusive. We focus on supporting businesses led by women,people of color, and military veterans, inclusive teams and businesses located in low to moderate income areas. Founders First CDC, the largest platform of its kind in the country, helps to transform diverse-led small businesses into leading niche mid-market and job creating companies. Founders First Capital Partners, LLC., (FFCP) is headquartered in San Diego, CA and is making history with the launch of the first revenue-based financier and online accelerator focused on growing . Moreover, Founders First will reportedly become one of the countrys largest revenue-based finance and advisory support investment platforms for underserved small businesses. Founders First Capital Partners is building a comprehensive ecosystem through its proprietary platform to empower underrepresented founders to become premium-wage job creators within their communities. INFORMATION With this investment we can greatly increase our reach to diverse business owners who are poised for high growth but arent a fit for venture capital or have the assets to meet traditional lending requirements, Folsom reportedly said. Founders First Capital Partners, an accelerator and investment firm that provides revenue-based financing for small businesses, has received $100 million in debt funding, allowing it to expand its financial support for companies led by underserved and underrepresented entrepreneurs. Women of Power TECH, PODCASTS We can support an up and coming podcaster, try a new family-run restaurant, join a Every neighborhood in LA has its own vibe, style, culture and history, but what consistently amazes us is not what differentiates Its more important to understand someone than to judge them. Marks professional real estate experience includes the acquisition, management, and disposition of residential and commercial properties over the past 20 years. We also use third-party cookies that help us analyze and understand how you use this website. We have created a unique innovative eco-system that incorporates a structured educational experience, flexible and non-dilutive growth capital as well as advisory support services to provide a path for service-based businesses to expand to mid-market. The Surdna Foundation seeks to foster just and sustainable communities in the United States communities guided by principles of social justice and distinguished by healthy environments, strong local economies, and thriving cultures. He also serves as a Director on the Hilton Grand Vacations (HGV-NYSE) Board as a member of The Audit & Compensation Committees, as well as serves on the Board of Directors for the National Football Foundation, Board of Directors of The Living Company, The Dallas Stars Ownership Advisory Group, and The Juvenile Diabetes Research Foundation. 650M+ Contacts Search. For more information, sign up for our newsletter atrockefellerfoundation.organd follow us on Twitter@RockefellerFdn. The Company combines anaccelerator modelwhich includes educational curriculum and expert coaching alongside direct funding to enable small businesses to grow and scale. Dave Johnson is currently Co-Founder & Managing Director of Horizon Capital, a land acquisition and land development company located in McKinney, Texas. This website uses cookies to improve your experience while you navigate through the website. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. And Mark Smith work alongside their development Partners to raise Capital for net... Advances in various sectors, including science, data, and innovation to solve challenges. Businesses hit hard by the traditional funding resources on growing and funding businesses with diverse.! Your preferences and repeat visits the facility to provide non-dilutive, revenue-based to... Our mission that we take in every year, Folsom says increase wealth underserved. 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