Communities across the United States are facing many crises and inequities from lack of affordable housing, to an ever-widening socioeconomic and racial wealth gap. Only 35 out of every 100 low-income families have access to available affordable housing. The wealth gap between America’s richest and poorest families more than doubled from 1989 to 2016. As innovators within these communities try to breathe life into their neighborhoods and cities in the form of entrepreneurial ecosystems, many experience significant financial roadblocks as only 3% of total venture capital funding is allocated to minority and women founders.
The Community Development circle at the Social Venture Fund aims to support the economic revitalization of communities and their cities across the United States, whether rural or urban, by investing in entrepreneurs and businesses that promote inclusive growth within the following areas:
- Financial inclusion and empowerment
- Improving low-cost housing options
- Developing alternative modes of transportation
- Building a creative class
- Civic engagement platforms
Julie Sarne, Community Development Circle Lead, at email@example.com.