Mr. Gougis launched the first cohort of Capital Impact Partners’ Equitable Development Initiative in Dallas, helping developers of color with training, mentorship, and pathways to financing that are often unavailable due to systemic racism.
FEBRUARY 27, 2023 (Arlington, VA/San Diego, CA) – Aaron Gougis, the Dallas Initiatives Manager for the Momentus Capital branded family of companies, has been honored by the Dallas Business Journal in the publication’s annual “Leaders in Diversity” awards.
Mr. Gougis received the “Community Champion” award, which recognizes an individual who has gone above and beyond in the promotion of initiatives, resources, or community involvement to advance diversity in the Dallas region.
Mr. Gougis launched the first cohort of Capital Impact Partners’ Equitable Development Initiative in Dallas and then managed the first cohort of the six-month program in 2022. The Equitable Development Initiative helps developers of color with training, mentorship, and pathways to financing that are often unavailable due to systemic racism.
“I’m proud of the work we’ve done to bring the Equitable Development Initiative to Dallas, what the program has already meant for the developers who participated in it, and what it will continue to mean for the community,” said Mr. Gougis. “And I’m excited for what ’s still to come — how we can better support the Dallas area as an organization, to learn about the challenges that community members of color are facing, their goals, and their needs.”
Mr. Carr is part of a prestigious class of honorees recognized on December 8 in Washington, D.C.
DECEMBER 9, 2022 (Arlington, VA/San Diego, CA) – Ellis Carr, the president and CEO of the Momentus Capital branded family of companies, has been named “Nonprofit Leader of the Year” by the Washington Business Journal.
The Washington Business Journal’s annual CEO of the Year awards highlight top leaders in the area that have demonstrated great innovation, strength and perseverance while also maintaining a commitment to the community.
“I am honored to be recognized on behalf of the important and innovative work that my colleagues do in the Washington Metro area and throughout the country,” said Mr. Carr. “What we do is really about giving someone a fair and equitable opportunity. An opportunity to fulfill their dreams for themselves and their community, an opportunity to build a life for their family, in a community that has the resources they need to thrive. That’s the work that we’re doing here, and that’s our reason for being, and that’s what we should always be striving for.”
These investments will help companies grow and create impact in their communities, filling a crucial gap in the CDFI space while taking a different approach than traditional venture capital.
NOVEMBER 16, 2022 (Arlington, VA/San Diego, CA) – The Momentus Capital branded family of companies is proud to launch its Impact Investments line of business to jumpstart growth-stage, for-profit businesses that are creating social impact. These investments will focus on companies with diverse leadership and/or are operating in communities of color.
Many of these companies need something other than traditional debt — so that they can instead concentrate their resources on growing their enterprises. However, those opportunities are often not available. For example, less than 1% of venture capital funding nationally goes to Black founders. And equity investments make up less than 2% of CDFI portfolios in the United States.
“As a mission-focused organization, we provide support in a way that helps owners maintain control over their companies. We work alongside these owners to help them grow — seeking a modest, short-term return while enabling owners to maximize their impact within the community through economic growth and job creation,” said Ellis Carr, president and CEO of CDC Small Business Finance and Capital Impact Partners, each of which is part of the Momentus Capital branded family of organizations.
Momentus Capital is proud to announce that it is working with Macy’s, Inc. on S.P.U.R. Pathways: Shared Purpose, Unlimited Reach — a multiyear, multifaceted funding program to advance entrepreneurial growth, close wealth gaps, and shatter systemic barriers faced by diverse-owned and underrepresented businesses.
This innovative effort advances a longstanding Macy’s, Inc. commitment to underrepresented businesses and aims to galvanize the retail industry to invest in the next generation of entrepreneurs.
It features a comprehensive range of financing options, from growth equity capital to loans for working capital and commercial real estate. Additionally, this effort will provide a full suite of educational resources, fueling a holistic supplier ecosystem and acting as a catalyst for outsized growth.
This award will spur projects that increase access to social services in disinvested communities.
OCTOBER 28, 2022 (Arlington, VA) – Capital Impact Partners has been awarded a $55 million New Markets Tax Credit (NMTC) allocation from the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). These tax credits incentivize private sector investors to partner in community financing efforts.
“This award will help advance our mission to increase access to critical social services in disinvested communities, spur economic development and wealth creation, and create jobs,” said Mindy Christensen, senior vice president of community development real estate for Capital Impact Partners. “We are grateful that the CDFI Fund has again recognized our proven track record of working with communities to uplift their needs and solutions, and working alongside the private investors who help make that possible. It further enhances our ability to provide a continuum of financial, knowledge, and social capital.”
The eighth annual Co-op Innovation Awards supported five organizations’ work in California, Illinois, Minnesota, North Carolina, and Washington, D.C.
September 28, 2022 (Arlington, VA) – Five innovative ideas in five cities have received a combined $170,000 in early-stage grant funding from Capital Impact Partners’ 2022 Co-op Innovation Awards, which aim to increase cooperative development in communities of color and communities living with low incomes.
This year’s awards, issued by Capital Impact Partners and National Cooperative Bank, are funding projects such as enabling Cambodian refugees to have permanent affordable housing; keeping a neighborhood safe so that families and businesses can thrive; creating an online marketplace for street food vendors; teaching skilled laborers how to become upholsterers; and helping a housing cooperative move toward sustainable growth.
These worker, housing, and food co-ops are innovating programs or strategies to offer workers, especially workers of color, an alternative to extractive systems.
Developers of color have historically faced significant barriers resulting from generations of structural racism and disinvestment. This investment will go toward Momentus Capital’s efforts to help developers grow their businesses.
SEPTEMBER 13, 2022 (Arlington, VA/San Diego, CA) –Momentus Capital announced today that U.S. Bank has purchased a $5 million Racial Equity Bond from Capital Impact Partners, part of the Momentus Capital family of companies. It is the first time that Capital Impact Partners has offered a bond like this; the use of funds is restricted to ensure investors’ funds go to developers of color and the work is achieving its intended racial equity impact.
This investment will help support Momentus Capital’s continued work toward helping real estate developers of color in an industry where they are starkly underrepresented to create generational wealth, construct developments that are aligned with community needs, and build more affordable housing.
The list, announced today, recognizes individuals making a cultural impact via bold achievements that have never been accomplished before in their chosen fields, from entertainment to healthcare to food. Fast Company editors and writers research candidates for the list throughout the year, scouting every business sector, including technology, medicine, engineering, marketing, entertainment, design, and social good, to find those who are leading with creativity during one of the most challenging times in history.
August 2, 2022 (Arlington, VA) – Capital Impact Partners announced today that Aflac Incorporated has publicly announced a $15 million investment in Capital Impact Investment Notes (“Notes”).
“As a compassionate company that is innately driven by our commitment to the policyholders and communities we serve, we are continually seeking investment opportunities that champion underserved communities,” said Teresa McTague, Chief Investment Officer of Aflac U.S. and Aflac Global Investments’ Global Head of ESG Investment Strategies. “The opportunity presented by Capital Impact Partners aligned very well with the Socioeconomic Advancement and Empowerment category under our Sustainability Bond Framework. We were thrilled to identify and act upon this caliber of investment opportunity through Capital Impact Partners. Our investment and partnership is far more than transactional to us; it embodies our vision of making a direct and measurable difference in the lives of many, which exemplifies core values our company treasures.”
“We are thrilled to join in celebrating Aflac Incorporated’s commitment toward our mission,” said Natalie Gunn, Chief Financial Officer of Capital Impact Partners. “We’ve shown over the past 40 years just how effective impact investing can be. We’re able to deliver a strong financial performance while fulfilling our mission of creating social and economic justice in disinvested communities throughout the United States.”
The Momentus Capital family of companies is a founding member of the new coalition dedicated to addressing economic disparities and accelerating economic opportunities.
July 28, 2022 (Arlington, VA and San Diego, CA) – Momentus Capital is honored to serve as one of the founding members of newly created Economic Opportunity Coalition (EOC).
Vice President Kamala Harris announced today historic efforts to catalyze and align both public and private investments — including formation of the new EOC — to address economic disparities and accelerate economic opportunity in communities of color and other underserved communities.
The EOC is made up of 23 companies and foundations, including 14 companies ranked in the Fortune 500. Their goal is to focus commitments in a few areas that will move the needle — aligning their major investments in communities of color with investments made by the Biden-Harris Administration.
“Momentus Capital is uniquely positioned to serve a significant role representing mission-driven financial institutions on the Economic Opportunity Coalition,” said Ellis Carr, president and CEO of the Momentus Capital family of companies, which includes Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies. “Our team has extensive experience with small business and community development, and the ability to offer a continuum of capital at every growth stage to support economic mobility and wealth creation.”
