For all of us at Momentus Capital, 2022 was a year to remember. Working in cities and communities across the country, we put over $760 million into the hands of entrepreneurs, developers, and other local leaders. In addition, lenders utilized our Ventures Lending Technologies’ suite of products to deploy more than $20 billion in financing to their clients. These numbers represent the highest level of investment in the history of our family of organizations.
But beyond these headline figures, what do these numbers represent? What do these dollars actually support? When I get asked this question, three things come to mind:
First and foremost, our work supports people. The people that we invest in are pursuing their own dreams for themselves and their communities. Most are small business owners and community real estate developers, but no matter their line of work, I see them the same way: as builders. In many cases, these folks are the folks that the traditional financial sector has left behind. Through their businesses, projects, and community leadership, they are building a better future for themselves and those around them – and we are proud to support their vision.
Second, our work advances a culture that puts the voices of these leaders at the center of what we do. Local voices shape our priorities, our projects, and our strategies. One of the reasons I admire our staff so deeply is because they are committed to this culture. We adopted our four Core Values – being visionary, invested, collaborative, and intentionally inclusive – to strengthen this culture. We build authentic relationships with our colleagues, our partners, and the community leaders we support. As we do, we strive to always actively listen to how they describe their own wants, needs, and vision.
Finally and most importantly, our work supports communities. Strengthening and supporting communities is the reason we exist. We are committed to the idea that the people of every community in America deserve to live, work, play, and dream without being constrained by a lack of capital, a lack of knowledge, a lack of power. Every bit of capital we provide is about directing power – economic, social, and cultural – to communities with dreams, assets, and aspirations that outstrip the power our current system has allowed them.
We do the work we do so that people, cultures, and communities across this country can thrive. As you can see in our Annual Report, we did a lot last year in the service of this goal. As with every year, our achievements are thanks to the expertise and dedication of our incredible staff. I am grateful for their commitment to our mission and proud of the way they approach this work. As the “first generation” of Momentus Capital employees, they are advancing the work while helping us to build a new type of organization, shaping the day-to-day environment of our organization. Every day, I feel lucky and honored to work with this team.
Of course, the real work is ahead of us, not behind. We are on a multi-year journey to build an integrated financial services organization that puts purpose over profit. Working together with partners, we will redefine how capital flows into underestimated communities so that everyone has access to the resources they need to thrive. The result? An economic system that respects and uplifts all peoples’ right to achieve the dreams they have for themselves, their communities, and generations to come.
Thank you, as always, for your interest and support.