Investment Spotlight: Apis & Heritage: Legacy Fund I

*/ /*--> */ The Rockefeller Foundation ’s Zero Gap Fund invested $3 million in first close of Apis & Heritage’s first fund, Legacy Fund 1 (June 2021). The Fund has since raised nearly $60 million and announced final close in September 2022. The Legacy Fund 1 seeks to convert 8-10 businesses to ESOPs via LBO, establishing independently-managed ESOP Trusts to transfer firm ownership to employees over time. The strategy aims to enable asset ownership and job...