Washington, DC (PRWEB) June 19, 2012
DC Community Ventures (DCCV), a community development venture capital firm based in Washington DC, announced that it has closed a $400,000 Series B Preferred Stock investment in Chesapeake Bay Roasting Company (CBRC). Founded in 2002, CBRC produces high quality coffees with a strong environmental mission, highlighted by the company recently receiving the Washingtonian Green Award 2012. CBRC’s roasting process uses 78% less energy than comparable roasters and the company commits 2% of sales to support the Chesapeake Bay Watershed.
According to co-Managing Partner Candler Young, "Chesapeake embodies the type of company we look for. The company has an excellent product which is poised to accelerate growth with additional capital. At the same time, CBRC provides tangible economic and environmental benefits across the greater Washington, DC region.”
"We're incredibly proud of our products and our mission," says CBRC chairman Chris Paladino. "And we are just as proud of the partners we seek as customers, suppliers and investors. We're thrilled that DC Community Ventures would want to be part of our team."
Chesapeake coffees, including Cattail, Eco-Reef and River’s Edge, are available from local coffee houses, supermarkets and office coffee distributors (see http://cbrccoffee.com/where-to-buy.html).
About DC Community Ventures
Established in 2011, DC Community Ventures is a community development venture capital fund that seeks to invest in companies in the Washington DC metro area that deliver both financial returns for the fund as well as social returns for the communities in which they operate.. The Fund focuses mostly on mid- to late-stage investments, specifically in businesses that are currently generating profits or have significant profit potential. DC Community Ventures also seeks to co-invest with other CDVC funds, traditional VC funds, and institutional investors in equity or debt investments. For more information, please visit http://www.dccommunityventures.com.