Impact in Action

Investment Spotlight: Founders First Capital Partners

In 2021, the W.K. Kellogg Foundation made a $2 million program-related investment in Founders First Capital Partners’ Series A which totaled $11.6MM. Founders First uses revenue-based financing, an alternative financing structure that provides capital in exchange for a fixed share of monthly revenue until the initial loan amount and repayment have been paid off. This growth financing model provides an alternative to traditional financing options for small and mid-sized companies owned by BIPOC, women, LGBTQ people, and veterans. Founders First created a Market Development Grant—with grant, recoverable grant, and subordinated debt options—to scale its national funding platform for diverse-led businesses.
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