Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
06.06.24
A team of Pillsbury lawyers advised Equitable Prosperity Manager (a subsidiary of Capital Impact Partners) in the formation of its inaugural fund, the Equitable Prosperity Fund I LP, one of the largest BIPOC-led impact investing funds, with commitments of more than $170 million.
According to a press release, the fund’s investments are intended to help growth-stage companies create more social impact in their communities, focusing on outcomes such as increasing access to healthcare and healthy foods, while supporting employee ownership and diverse entrepreneurs. The fund will be able to provide opportunities that are rarely available for many entrepreneurs, particularly those who are often underserved and have received a mere fraction of the venture funding available in recent years. Fund investments are specifically designed to provide entrepreneurs with options beyond traditional debt, and to ensure that they maintain control of their companies.
Click here to read more about the fund.
The Pillsbury team included Corporate partner Jeffrey Grill; Investment Funds partner Brent Morowitz, senior counsel Ildiko Duckor and associate Robert Shoemaker; Consumer Finance senior counsel Brian Montgomery; Finance senior counsel Kenneth Suh, senior associate Daniel Welch and associate Sacha Urbach; and Tax partner Brett Willis and special counsel Robert Logan.