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WEPOWER launches $1.5 million fund to invest in Black and Latinx entrepreneurs in North St. Louis

by | Aug 5, 2021 | News

Mission Driven Finance is proud to be a founding partner of WEPOWER St. Louis’ Elevate/Elevar Capital.

Elevate/Elevar Capital catalyzes Black and Latinx business owners in St. Louis to become fundamental pillars within their communities, build a tax base and disrupt generational divestment by accelerating shared wealth. A percentage of the returns these entrepreneurs make will be owned and managed by the surrounding community, while the remainder will be used to preserve the fund’s legacy to continue investing and Black and Latinx business owners committed to North St. Louis. The fund’s unique approach results from years of research and design with partners from across the country, such as Mission Driven Finance, an impact investment firm and Certified B Corporation dedicated to building a financial system that ensures good businesses have access to sufficient, affordable capital. Mission Driven Finance will continue to support Elevate/Elevar with fund administration.”

Photo (L–R): WEPOWER’s Keisha Mabry Haymore, director of entrepreneurship; Charli Cooksey, founder and CEO; and Yoni Blumberg, vice president of community wealth build.

Photo credit: Nyara Williams. Location: Apiary @ the Park in Hyde Park, founded by Fatimah Muhammad, a member of the WEPOWER community.

 

Categories: News