Momentus Capital Closes $171 Million Equitable Prosperity Fund to Drive Positive Social Impact in Underestimated Communities
May 20, 2024
Delaney Sexton
Contributing Editor
Momentus Capital Closes $171 Million Equitable Prosperity Fund to Drive Positive Social Impact in Underestimated Communities
“The Equitable Prosperity Fund 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.” -Ellis Carr, President and CEO of Capital Impact Partners and CDC Small Business Finance. Each is part of the Momentus Capital branded family of organizations.
The Momentus Capital branded family of organizations has announced the final closing of its 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.
Fund investments seek to grow small businesses that are creating “social impact” in underserved and underinvested communities. Through its unique structure, the Equitable Prosperity Fund provides growth-stage companies — including many in underestimated communities overlooked by traditional venture capitalists — with options beyond traditional debt.
Investments made through the Equitable Prosperity Fund are “non-dilutive” so that the small business owner retains control of their company. Rather than being focused on extracting profits, Momentus Capital aims to exit within 3-5 years, having successfully helped the entrepreneur grow and create social impact.
Momentus Capital has invested in 10 companies so far, including businesses that have not had access to traditional capital, companies that are improving access to healthcare and insurance, and companies that are increasing access to healthy and affordable food.
Learn more about the Equitable Prosperity Fund.