Founders First Closes Oversubscribed Series A Funding with Investments from Top Impact Philanthropic Organizations in America
The company has raised $11 million in Series A to accelerate financing and advisory support for diverse-led small businesses.
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. 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. 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. 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. 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.
About the W.K. Kellogg Foundation
The W.K. Kellogg Foundation (WKKF), founded in 1930 as an independent, private foundation by breakfast cereal innovator and entrepreneur Will Keith Kellogg, is among the largest philanthropic foundations in the United States. Guided by the belief that all children should have an equal opportunity to thrive, WKKF works with communities to create conditions for vulnerable children so they can realize their full potential in school, work and life.
The Kellogg Foundation is based in Battle Creek, Michigan, and works throughout the United States and internationally, as well as with sovereign tribes. Special attention is paid to priority places where there are high concentrations of poverty and where children face significant barriers to success. WKKF priority places in the U.S. are in Michigan, Mississippi, New Mexico and New Orleans; and internationally, are in Mexico and Haiti.
About the Schultz Family Foundation
The Schultz Family Foundation, established in 1996 by Sheri and Howard Schultz, former CEO and chairman emeritus of Starbucks, creates pathways of opportunity for populations facing barriers to success, focusing on youth transitioning to adulthood and marginalized populations, including Black, Indigenous, People of Color communities. By investing in scalable solutions and partnerships in communities across the country, the Foundation aims to help tackle the barriers and roadblocks that prevent individuals from reaching their full potential and, in doing so, strengthen our communities and our nation.
About Benefit Chicago and Arc Chicago, LLC
Launched in 2016, Benefit Chicago is a collaboration between the John D. and Catherine T. MacArthur Foundation, The Chicago Community Trust, and Calvert Impact Capital. It seeks to mobilize $100 million in catalytic capital for nonprofits and social enterprises in Chicago. The goal of this impact investment effort is to create jobs, build wealth, and tackle other social and economic challenges, with a special focus on communities of color, low-income households, and historically marginalized communities. Arc Chicago, LLC, is an investment fund created by MacArthur to further the objectives of Benefit Chicago.
Founders First Capital Partners
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