With backing from large banks and other deep-pocketed sponsors, the Arlington, Virginia-based community lending organization Momentus Capital has launched a new fund that will invest primarily in companies led by diverse entrepreneurs or doing work in communities of color.
The fund, dubbed Impact Investments, is the first for Momentus, a recently formed umbrella organization made up of Arlington community development financial institution Capital Impact Partners, San Diego-based CDC Small Business Finance and cloud-based technology vendor Venture Lending Technologies. It is led by CEO Ellis Carr, Capital Impact’s CEO.
A Momentus spokesperson would not reveal how much the fund has raised so far, citing “limitations of relevant securities laws,” but said it would have a particular focus on firms working to improve equity in health care and access to healthy, affordable food. The fund has so far invested about $10.5 million in four firms: SameSky Health, a Los Angeles health care technology company; BB Imaging, a sonography company in Austin, Texas; Obran Health, a home health care provider serving Southern California; and 4P Foods, a Warrenton, Virginia, grocery delivery company.