COMMITMENT TO ACTION
Investing $100 Million in Puerto Rico
Commitment by Community Development Venture Capital Alliance
In 2020, the Community Development Venture Capital Alliance (CDVCA) committed to investing $100 million to contribute to a thriving business finance ecosystem and grow the economy in Puerto Rico. Even prior to the devastating hurricane season of 2017, the median income in Puerto Rico was half that of Mississippi, the poorest state in the continental United States. Following more than a decade of serious economic challenges, the investment capital necessary to create a new, thriving business community, and necessary for the creation of good jobs, has fled the island. Through the investment of the funds by the CDVCA, 615 businesses will be supported, grown, or created in Puerto Rico, and, as a result, 12,000 jobs will be added to the economy, the vast majority of which will be in new small and medium enterprises and entrepreneurial ventures.