HomeUSAElevate Capital Releases Inaugural 2023 Impact Report

Elevate Capital Releases Inaugural 2023 Impact Report

Elevate Capital
Founded in 2016, Elevate Capital is the nation’s first institutional venture capital fund specifically targeting investments in underrepresented entrepreneurs, which includes women, BIPOC, and LGBTQ+ communities or those with limited regional access to capital and opportunities.

Elevate Capitala Portland, Oregon-based institutional venture capital fund that targets investments in companies led by underrepresented entrepreneurs, announced the release of the firm’s first 2023 Elevate Capital Impact Report.

The report finds that Elevate Capital has achieved significantly stronger returns than traditional venture capital firms since it was founded in 2016.

According to the document,

  • Women founders comprise 67% of Elevate Capital’s investments.
  • 93% are founders who identify as BIPOC, LGBTQ+, or veterans.
  • Currently, AUM (assets under management) is $60 Million.
  • Elevate’s first $10 Million 2016 vintage fund with 30 investments has had seven exits (67% women and 62% BIPOC founders) and has returned 18% average cash distributions annually to its limited partners with a 22% net IRR (internal rate of return).
  • The seven company exits contributed nearly $260 Million in generational wealth to the founders and employees of the companies; $60 Million of which was returned in cash to them. 

Founded in 2016 by Nitin Rai, Founder and Managing Partner, Elevate Capital is an institutional venture capital fund specifically targeting investments in underrepresented entrepreneurs, which includes women, BIPOC, and LGBTQ+ communities or those with limited regional access to capital and opportunities.

VCWire

11/01/2023