Washington, DC (PRWEB) December 16, 2016
DC Community Ventures (DCCV), a community development venture capital firm based in Washington DC, announced that it has made a $100,000 variable dividend redeemable preferred stock investment in Broodjes & Bier (Broodjes). Broodjes & Bier is a Dutch-inspired sandwich company based in Washington, DC under female minority ownership. Broodjes makes product daily for wholesale distribution and catering throughout the DC-Baltimore region.
Through the variable dividend redeemable preferred stock structure, also referred to as Demand Dividend, DCCV should generate a reasonable return while allowing the entrepreneur(s) to maintain control and efficiently deploy capital. Payments are tied to cash flow following a holiday period, providing flexibility for entrepreneurs to invest capital for growth while creating an equity redemption schedule to facilitate DCCV’s eventual exit.
“We are excited to provide growth capital for a rapidly growing food enterprise led by a dynamic founder,” stated Karim Zia, Managing Partner for DC Community Ventures. “We were attracted to Broodjes’ great taste, product quality, rapid growth, financial discipline and commitment to employees.”
“We're excited for the future of prepared foods. Our belief is that the ready-made meals that you pick up on the go should be just as fresh and delicious as those you wait in line for,” said Sarah “Frim” Frimpong, founder of Broodjes & Bier. “We're thrilled to have DC Community Ventures on our team and look forward to continuing our mission to change the way people think about prepared foods.”
About DC Community Ventures
Established in 2011, DC Community Ventures is a community development venture capital fund which seeks to invest in companies that deliver above-average financial returns as well as social impact for the communities in which they operate. We target investments in underserved areas to promote environmental change, social improvement and/or economic opportunity for low and moderate income workers. We offer flexible and patient growth capital through mezzanine debt and structured equity investments with a long-term investment horizon.
About Broodjes & Bier
Broodjes & Bier is a Dutch-inspired prepared foods company based in Washington, DC that handcrafts gourmet sandwiches, salads and breakfast bowls with premium ingredients and fresh flavor profiles for wholesale distribution and catering.