FVLCRUM announces final closing with over $302 million in fund commitments
ROCKVILLE, Md., Aug. 28, 2023 /PRNewswire-PRWeb/ -- FVLCRUM Partners ("FVLCRUM"), a lower middle market buyout firm focused on addressing the U.S. racial wealth gap, announced the final closing of FVLCRUM Fund LP together with its sister fund entities (the "Fund"). The Fund closed on over $302 million in aggregate commitments, exceeding its target of $250 million. The Fund has a broad base of investors, including institutions such as banks, consultants, endowments, insurance firms, fund of funds, public pension plans, as well as high-net-worth individuals.
"The market reaction to FVLCRUM demonstrates that aligning impact and alpha can drive compelling results" says Chijioke Asomugha, Partner at FVLCRUM. "We are pleased with our success in the fundraising period and remain committed to the same degree of focus as we execute on our investment and impact strategy," says Ben Carson Jr., Partner at FVLCRUM. Yves M. Mombeleur, Chief Operations Officer for Clearinghouse CDFI and Managing Director of Impact for FVLCRUM follows up by saying, "We are tremendously excited about the innovative structure and meaningful impact of FVLCRUM. We are aligning impact and investments to change the private equity space."
The Fund will target control equity investments in diverse companies of scale that demonstrate significant potential for growth and sustainable competitive advantages. The target sectors include government contracting, healthcare, and technology-enabled business services, which the team has extensive investment experience in.
About FVLCRUM Partners
FVLCRUM Partners, dba FVLCRUM Funds Capital Group, is a private equity firm that intentionally invests in diverse lower-middle market companies to generate sustainable opportunity for underserved communities. Since 2013, the team has provided a capital markets approach to addressing the U.S. racial wealth gap. FVLCRUM has been an innovator in aligning impact and alpha with an emphasis on delivering investment returns and sustainable social change. FVLCRUM's first fund qualified for Community Reinvestment Act (CRA) credit. For more information, visit http://www.fvlcrum.com.
Media Contact
Rebecca Bendetson, FVLCRUM, 202-960-1170, [email protected], www.fvlcrum.com
SOURCE FVLCRUM
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