• About
  • Article PDF
  • White Papers
  • Listening Tours​
  • Contact
  • Support Us
  • Advertising & Sponsorships
Sunday, February 5, 2023
No Result
View All Result
  • Login
Times Of Entrepreneurship
Growth and Equity for a Changing World
Times Of Entrepreneurship
No Result
View All Result

Fund of the Week: Elevate Capital Aims To Reach Excluded Entrepreneurs In Pacific Northwest

by Elaine Pofeldt and Elizabeth MacBride
June 30, 2020
in Finance
Reading Time: 2 mins read
0
Share on FacebookShare on Twitter
Nitin Rai, Elevate Capital Fund II Founding Partner

Fund: Elevate Capital Fund II
Elevate Capital 
Hillsboro, OR
$40M

What It Is: In 2016, Elevate Capital’s founding partner, Nitin Rai, created Elevate Capital Fund I, a $10 million venture fund for entrepreneurs who have historically been excluded by the traditional venture capital community in Oregon and Pacific Northwest. Now, Rai and his three partners, Jill Nelson, Raghu Raghavan, and Kumar Sripadam, formed a second $40 million Fund II. Fund II aims to achieve similar metrics but with larger check sizes and an increased geographical footprint. Elevate employs seven investment professionals and three support staff.

Minimum Investment Size: $125-250k for individuals and $1M for institutional investors

Track Record of Firm: In four years, Elevate Capital has invested in 29 companies and has had two exits with an additional 10 markups. These metrics have led to an IRR of 15.4%. Elevate Capital has distributed 40% of the Fund back to its investors in cash. More than 80% of the founders in its inaugural fund are women and minorities, with 17% African American, 11% LatinX and 9% LGBTQ. 

Quote: On why Elevate Capital returned cash to investors early: “Otherwise, it’s all just charity. It was important to show that these companies can get to liquidity in a faster amount of time, and so we did it.” – Nitin Rai



This story and others on Times of E are made possible by a sponsorship from the Ewing Marion Kauffman Foundation. The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation that provides access to opportunities that help people achieve financial stability, upward mobility, and economic prosperity – regardless of race, gender, or geography. The Kansas City, Mo.-based foundation uses its grantmaking, research, programs, and initiatives to support the start and growth of new businesses, a more prepared workforce, and stronger communities. For more information, visit www.kauffman.org and connect with www.twitter.com/kauffmanfdn and www.facebook.com/kauffmanfdn.

Elaine Pofeldt and Elizabeth MacBride

Elaine Pofeldt and Elizabeth MacBride

Related Posts

Venture Spotlight: Realist Ventures In Connecticut Focuses on Biotech, Healthcare

Venture Spotlight: Realist Ventures In Connecticut Focuses on Biotech, Healthcare

by Ellen Chang
January 26, 2023
0

Marie Rocha is the founder and general partner of Realist Ventures. Photo: Tiffany Hagler-Geard After spending over 20 years working...

A Great Financial Backbone For A Social Enterprise

A Great Financial Backbone For A Social Enterprise

by Elizabeth MacBride
January 19, 2023
0

Evergreen Lodge near Yosemite National Park, California. Photo: courtesy of Evergreen Lodge Finding investors for a social enterprise that combines...

Venture Spotlight: Boomerang Ventures in Indiana Focuses on MedTech and Health

Venture Spotlight: Boomerang Ventures in Indiana Focuses on MedTech and Health

by Elizabeth MacBride
December 15, 2022
0

Oscar Moralez, founder and managing partner of Boomerang Ventures. Unexpected fact: Warsaw, Indiana, population 16,000, is the orthopedic capital of...

A Venture Capitalist Asks, Do We Add Value To Startups?

A Venture Capitalist Asks, Do We Add Value To Startups?

by Seth Levine
December 2, 2022
0

Editor’s Note: This post appeared originally on Seth Levine’s blog, VC Adventure in August 2022. Seth is a venture capitalist and co-founder of Foundry Group...

Venture Spotlight: $3.2B Advantage Capital Looks To Invest Even Deeper, Especially In Black Communities

Venture Spotlight: $3.2B Advantage Capital Looks To Invest Even Deeper, Especially In Black Communities

by Elizabeth MacBride
November 9, 2022
0

With $3.2 billion in assets under management, Advantage Capital is considered one of the most important impact investors in the...

Black woman standing confidently in an apron

Why Today’s Small Businesses Can’t Get Bank Loans

by Elizabeth Macbride
September 21, 2022
0

Last spring, Egypt Noble was saving $20,000 to open a restaurant. Fifty-three years ago, Booker T. Wilkins, a barber in...

Subscribe to Times of E’s Free Weekly Newsletter

Learn about the emerging ecosystem of diverse founders

Popular

  • Weekly newsletter: Top 20 Entrepreneurship Competitions, DoorDash IPO And Elon Musk’s Move To Texas

    Top 20 U.S. University Entrepreneurship Competitions

    0 shares
    Share 0 Tweet 0
  • Modern Mexican Food Brands Give Old El Paso The Boot

    0 shares
    Share 0 Tweet 0
  • Venture Capital Returns Are More Skewed Than People Realize

    0 shares
    Share 0 Tweet 0
  • Venture Spotlight: Realist Ventures In Connecticut Focuses on Biotech, Healthcare

    0 shares
    Share 0 Tweet 0
  • Trailblazer: An Audacious Denver Entrepreneur Recruited An Xbox Creator To Develop Her Gaming Vision

    0 shares
    Share 0 Tweet 0

Recent

Editor’s Note: Nepo Babes, Inevitable War?

Editor’s Note: Nepo Babes, Inevitable War?

February 5, 2023

Weekly Newsletter: Nepo Babes, Inevitable War? Dandelion Economy & Rising Mexican Food Brands

February 5, 2023
Homepage Header

Opportunities for Entrepreneurial Leaders: Miami, Pittsburgh, Virtual

January 27, 2023

Recommended

  • Health
  • Climate
  • Deep Tech
  • Finance
  • Education
  • Women Entrepreneurs
  • Mentorship
men gathered around large silver tanks

Commentary: Social Entrepreneurship Leads the Charge to Reinvent Capitalism

1 year ago
Decision Making In Uncertain Times

Decision Making In Uncertain Times

3 years ago
  • About
  • Partner
  • Bespoke Research
  • Listening Tours​
  • Contact
  • Support Us
  • Privacy Policy

(703-966-7357)

© 2020 Mondial Publishing Inc. All Rights Reserved.

 
Facebook Twitter Linkedin
No Result
View All Result
  • Research
  • Finance
  • Women Entrepreneurs
  • New Builders
  • Ecosystem
  • Events
  • Newsletter
  • Editor’s Note

© 2022 Mondial Publishing Inc. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Support Times of E

Times of E covers the emerging ecosystem of diverse founders.

With your support of our journalism, you will receive our weekly newsletter and one of these resources for free: 

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?