Philly Money Moves: The Enterprise Center’s Innovate Capital Growth Fund Gets $5M Investment

Plus, Verizon awards $50,000 to two Chambers of Commerce, Bucks Built Startup Fund gives away $40,000 in grants, and more local funding news.

The Enterprise Center received a $5 million investment from TD Charitable Foundation for its Innovate Capital Growth Fund. The West Philly-based nonprofit, which provides resources and opportunities for entrepreneurs, launched the fund in 2022 to support women and minority-owned businesses.

The fund is categorized as a Small Business Investment Company (SBIC) focused on investing growth equity capital into women and minority-owned businesses in the mid-Atlantic region. This is TD Charitable Foundation’s first mission-related investment.

“Our fund was designed to help minority and women-owned businesses who have historically had a more challenging time accessing the SBA’s SBIC program by providing capital for them to scale operations and unlock generational wealth for themselves,” said Della Clark, president of The Enterprise Center, in a written statement. “Our relationship with the TD Charitable Foundation will allow us to bridge the gap for minority and women-owned businesses during a time that is most critical to their survival and future success, and I couldn’t be more excited.”

Read the full article here 

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