BELMAR, N.J., June 10, 2020 /PRNewswire/ -- Ellavoz Impact Capital, a New Jersey-based social impact Qualified Opportunity Fund management firm, recently announced a partnership with New Jersey Community Capital (NJCC), the state's largest community development financial institution, to launch the Ellavoz Shared Values Opportunity Fund. The Fund's purpose is to serve Social Impact-minded Investors who will provide equity capital for affordable housing projects and entrepreneurism in New Jersey communities.
NJCC and Ellavoz believe this next decade will see significant upside value in Opportunity Zones investments. Their strategic partnership will provide the Ellavoz Impact Angel Network investors with deal flow for Opportunity Zone projects that meet defined financial and social impact requirements as well as professional due diligence. The goal is both a reasonable risk-adjusted financial return on investments, plus a measurable social impact return.
"We are excited to partner with Ellavoz Impact Capital," said Wayne Meyer, President of NJCC. "Opportunity Zones are a powerful driver of economic development, and together with our partners, we are uniquely positioned to unlock place-based investments that strengthen and expand equitable opportunities in underserved communities."
"We've always been impressed by the great work done by New Jersey Community Capital," said Robert Hutchins, Chief Executive Officer of Ellavoz Impact Capital. "We are proud to partner with NJCC to serve as 'New Jersey's Community Based OZ Fund' and look forward to bringing more private sector investment into Opportunity Zone communities. Ellavoz intends to be a catalyst for POST-COVID-19 economic recovery in New Jersey. Our model of private and public collaboration in development of affordable and workforce housing will directly benefit the healthcare and service workers that cared for us, stocked grocery shelves and protected us during this pandemic. We look forward to bringing back jobs and entrepreneurship to our communities."
About New Jersey Community Capital
New Jersey Community Capital is a nonprofit community development financial institution (CDFI) that provides innovative financing, investment, and support to sustainable community development ventures that develop and preserve affordable homes, increase jobs, improve educational opportunities, and strengthen neighborhoods to ensure that underserved communities can thrive. For more information: www.newjerseycommunitycapital.org.
About Ellavoz Shared Values Opportunity Fund
The Ellavoz Shared Values Opportunity Fund is about unleashing the power of both private and public investment to make a positive social impact. The Fund brings together greatly needed community projects and Impact Angel Investors. The Fund's philosophy focuses on shared values investing which results in both financial and social returns. For more information, www.ellavoz.com.
About Ellavoz Impact Capital
Ellavoz Impact Capital is the management company for the Ellavoz Shared Values Opportunity Fund and the Ellavoz Impact Angel Network. The Angel Network represents high net worth individuals, family offices, and businesses that believe innovative opportunity fund investing in underserved communities will result in positive financial and social impact returns. The Angel Investors' collective experience and resources will change lives and build communities for future generations. For additional information regarding social impact project investments or joining our Impact Angel Network, email Robert H Hutchins, CPA at [email protected].
Ellavoz Shared Values Opportunity Fund
SOURCE Ellavoz Impact Capital