Press Release

Momentus Capital Closes $171 Million Equitable Prosperity Fund to Drive Positive Social Impact in Underestimated Communities

One of the largest BIPOC-led impact investing funds, the Equitable Prosperity Fund I, will seek to help accelerate the growth of companies that are creating positive impact in underserved communities.

MAY 14, 2024 (Arlington, VA/San Diego, CA) – The Momentus Capital branded family of organizations is proud to announce the final closing of its inaugural fund, the Equitable Prosperity Fund I LP (the “Equitable Prosperity Fund” or the “Fund”), one of the largest BIPOC-led impact investing funds, with commitments of $171 million. 

The Fund’s investments are intended to help growth-stage companies create more social impact in their communities, focusing on outcomes such as increasing access to healthcare and healthy foods, while supporting employee ownership and diverse entrepreneurs.

Through the Equitable Prosperity Fund, the Momentus Capital branded family of organizations will be able to provide opportunities that are rarely available for many entrepreneurs, particularly those who are often underserved and have received a mere fraction of the venture funding available in recent years. 

Fund investments are specifically designed to provide entrepreneurs with options beyond traditional debt, and to ensure that they maintain control of their companies.

“The Equitable Prosperity Fund will fill a market gap by offering non-dilutive growth capital to support the growth of entrepreneurs ready to scale positive impact in communities,” said Ellis Carr, president and CEO of Capital Impact Partners and CDC Small Business Finance. Capital Impact Partners and CDC Small Business Finance are each part of the Momentus Capital branded family of organizations, which also includes their affiliates, Momentus Direct Capital, Momentus Securities (a FINRA-member broker/dealer), and Ventures Lending Technologies.

“This is a game changer — a fund helping underestimated communities, led by a diverse team of investment professionals, that takes a far different approach than traditional venture capital or debt financing,” Mr. Carr added. 

The Equitable Prosperity Fund is backed by significant investments from a broad support base of more than 20 financial institutions, corporations, health systems, high net worth individuals, and charitable organizations, including Charles Schwab Bank, The Kresge Foundation, the Marguerite Casey Foundation, Northwestern Mutual, Truist, and U.S. Bancorp Impact Finance.

Investing in Companies That Create Social Impact

By working with companies that are creating social impact, the Fund is focused on achieving the following goals:

  • Bringing institutional capital to businesses that have not had access to traditional capital
  • Increasing healthy and affordable food access for people living within food deserts or who are food insecure
  • Improving access to healthcare and insurance
  • Growing cooperatives and other employee-owned companies

As of March 2024, the Fund has made impact investments in 10 companies.

Some of the investees include:

  • 4P Foods, a Virginia-based company that helps local and regional farmers, including BIPOC farmers, in Washington, D.C., Virginia, Maryland, North Carolina, and beyond, making the farmers’ products more widely available and distributing healthy food to underserved communities.
  • SameSky Health, a Los Angeles area-based company focused on health equity and access to traditionally underserved communities.
  • QualityWorks, headquartered in Los Angeles, provides software quality services, automation solutions, supports AI transformation, and creates apps with impact for its clients.

“I chose Momentus Capital for my funding needs because of our shared commitment to fostering equitable and inclusive communities,” said Stacy Kirk, CEO of QualityWorks. “Their transparency throughout the process deepened my appreciation for their approach. Collaborating with them has truly felt like a partnership. The capital they provided has enabled us to enhance our brand recognition, assemble a world-class business development team, and expand our AI capabilities, which now makes technical solutions affordable to small- and mid-sized businesses and social impact organizations.”

Equitable Prosperity Fund and Momentus Capital’s Impact Investing Strategy

The Fund is part of the Momentus Capital branded family of organizations’ broader impact investing strategy.

The Momentus Capital branded family of organizations offers impact investments, including those made through the Fund, to support companies that are creating social impact, including companies led by entrepreneurs who are often underserved or are supporting communities that are often underserved. These companies need capital that is more flexible than traditional debt. In contrast to traditional debt, Momentus Capital’s impact investments typically do not take collateral and are forward-looking, rather than being based solely on past performance.

However, access to financing is often not available to entrepreneurs who are often underserved. For example, a recent study found that Black founders received only 1% of venture capital funding in the United States in 2022, while Latino founders received just 1.5%. 

Moreover, equity investments for operating businesses account for a minority of community development financial institutions’ (CDFIs) portfolios in America.

“We listen to entrepreneurs and community leaders and work to tailor our products and programs in order to serve them better. What we’ve heard from businesses is that they need growth capital that is non-dilutive,” said Yrenilsa Lopez, managing director of investments for the Momentus Capital branded family of organizations. “With our impact investments, we are able to support business owners in a way that enables them to maintain control over their companies. We can help them grow and help them maximize their impact within the community, creating jobs and economic growth.”

That differs vastly from traditional venture capital investors, who tend to focus on high-growth companies, taking ownership and control of those companies. This model does not typically support the capital needs of more community-centric businesses that demonstrate steady, profitable growth and whose owners seek to retain control and equity.  

Momentus Capital’s impact investments made through the Equitable Prosperity Fund are regenerative rather than extractive, working to help grow the equity of the entrepreneur. As the business grows and targets are reached, Momentus Capital typically takes a percentage of revenues or profits, with the goal of exiting completely within 3-5 years. Revenue and profit-sharing instruments offer entrepreneurs flexibility in their repayments and align the interests of the business with the interests of the investor.

For more information, visit the Impact Investments website or email

Selected Quotes From Fund Investors

Charles Schwab Bank: “We look forward to being among the investors in this unique investment fund that will address the disproportionate access to capital and growing needs of underrepresented entrepreneurs and communities,” said Michael Solomon, Managing Director of Community Development for Charles Schwab Bank. “The Equitable Prosperity Fund complements Charles Schwab Bank’s vision of providing capital where it is needed most.”

Kresge Foundation: “The Equitable Prosperity Fund is sorely needed capital that isn’t blind to the financial impacts of structural racism,” said Erika Brice, social investment officer at The Kresge Foundation. “Existing market systems often fall short, burdening promising businesses with extractive financing terms that not only hurt the business owner, but in a healthcare setting can ultimately impact the quality of care for patients. These systems of inequitable capital access also impede the emergence of high quality businesses, particularly those led by people of color. The Equitable Prosperity Fund ensures these systems are not a part of their investment process. It ensures that overlooked, but talented entrepreneurs are empowered and receive investments that resonate with and center their communities.”

Marguerite Casey Foundation: “The Equitable Prosperity Fund is a testament to the power of socially conscious and inclusive financial strategies that shape a world where capital serves not just the few, but the many,” said Dr. Carmen Rojas, President and CEO of the Marguerite Casey Foundation. “Aligning our investments with a fund that aims to invest in community-centric enterprises delivers profits to the bottom line while also fostering positive change and improving access to capital. Together with the Fund, we are sowing the seeds for a more equitable and sustainable future, where our financial decisions contribute to a world that uplifts all.” 

Truist: “Truist created its Purpose Driven Impact Financing initiative to facilitate impactful loans and investments to individuals, companies, and sectors that have traditionally lacked access to capital,” said Lauren Butler, senior vice president at Truist Community Capital. “Our investment in the fund expands our support of diverse developers and entrepreneurs, and has the potential to unlock new opportunities to build strong communities.”

U.S. Bancorp Impact Finance:  “U.S. Bancorp Impact Finance is proud to support the Equitable Prosperity Fund as part of our U.S. Bank Access Commitment, which is focused on addressing the wealth gap,” said U.S. Bancorp Impact Finance Chief Investment and Product Officer Sunil Rajpurohit. “We value our longstanding relationship with Momentus Capital and how we’re working together to address capital access needs of the historically marginalized parts of our communities.”

About the Momentus Capital Brand

The Momentus Capital branded family of organizations refers to the combined operations of Capital Impact Partners and CDC Small Business Finance, as well as their affiliates, Momentus Direct Capital, Momentus Securities (a FINRA-member broker/dealer), and Ventures Lending Technologies. While each organization under the Momentus Capital brand still operates as a separate entity, their clients will now have access to more resources and products.

The Momentus Capital branded family of organizations is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We are working to reinvent traditional financial systems that have failed to address systemic issues of inequality, economic empowerment, and the widening racial wealth gap by offering a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth. This includes a comprehensive package of loan products, impact investment opportunities, training and business advising programs, and technology services that advance locally-led solutions.

Leveraging 80 years of combined experience, more than $3 billion in assets under management, and strong community engagement, we have delivered $24 billion in financing, created and preserved 293,000 jobs, and served 13,800 small businesses and five and a half million people across their history.

With headquarters in Arlington, Virginia, and San Diego, California, Momentus Capital operates nationally with a focus on larger urban areas and cities in Arizona, California, Michigan, Nevada, New York, Texas, and the Washington metro area.

About Capital Impact Partners

Capital Impact Partners is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. We work to champion key issues of equity and social and economic justice by deploying mission-driven financing, capacity-building programs, and impact investing opportunities.

A nonprofit Community Development Financial Institution, Capital Impact has disbursed more than $3 billion since 1982 to create access to critical social services, grow entrepreneurs, and create quality jobs. Capital Impact’s leadership in delivering financial and social impact has resulted in the organization being rated by S&P Global and Fitch, and recognized by Aeris for its performance.

Learn more at

About CDC Small Business Finance

CDC Small Business Finance is transforming how capital and investments flow into communities to provide people access to the capital and opportunities they deserve. As the nation’s leading mission-based small business lender, CDC delivers small business and commercial real estate loans paired with small business owner assistance to bolster entrepreneurship, economic development, and job creation.

CDC offers numerous financing products including the Small Business Administration (SBA) 504 commercial real estate loans; SBA Community Advantage working capital loans; and the SBA Microloan. We also offer non-SBA products to provide more equitable access to credit for those who are unable to qualify for traditional financing. CDC also provides free business advising to support both potential borrowers to get loan-ready as well as to help existing small business borrowers grow and expand their business.

Since 1978, CDC has provided more than $21.3 billion in funding to 12,000 borrowers and helped create and preserve over 214,000 jobs.

CDC’s subsidiary, Ventures Lending Technologies, offers proprietary loan processing and a portfolio management tool that has become one of the top resources for small business and community lenders. This cloud-based platform provides a low-cost way for smaller lenders to offer services throughout the entire lifecycle from a borrower prospect to loan payoff. Through this work, the Ventures team helps scale the ability of local lenders to create impact in their communities by providing access to high-level services they would otherwise be unlikely to manage on their own.

Learn more at and