Commitment to Action

Venture Capital Fund Targeting the Underbanked in US

Commitment by

Center for Financial Services Innovation

In 2009, CFSI committed to leverage its successful track record to form a for-profit, market-rate venture capital firm. The goal of Core Innovation Capital I, LP is to invest in highly-scalable financial technology companies which will serve consumers at the base of the United States economic pyramid. The fund intends to make 10-12 investments, committing between $2-6 million to each including follow-on investments. The fund will invest in companies that: (1) have strong growth potential in a large and growing market; (2) provide financial services that provide a positive impact to underbanked and low and moderate income consumers; and (3) have a scalable business model with an attractive risk and return profile.
CFSI has been able to raise over $30 million in financial commitments for its new venture capital fund and made its first two investments. The fund is currently seeking additional investors and companies to invest current capital.

Share

Tabs

Overview
Summary

Commitment

Venture Capital Fund Targeting the Underbanked in US

Launched

2009

Est. Duration

1 year

Estimated Total Value

$30,000,000

Region

Northern America

Countries

United States

Commitment by

Center for Financial Services Innovation