Elevate Capital recently released its inaugural 2023 Impact Report, highlighting the financial success of the firm and its commitment to investing in underrepresented entrepreneurs. Here are some key points from the report:
- Since its founding in 2016, Elevate Capital has achieved significantly higher returns than traditional venture capital firms.
- The firm plans to launch Elevate Capital Fund III in early 2024.
- Elevate Capital has already created $260 million in multigenerational wealth for entrepreneurs and their communities.
- The portfolio is made up of 67% women founders and 93% founders who identify as BIPOC, LGBTQ+, or veterans.
- The firm’s first $10 million fund, established in 2016, has returned average cash distributions of 18% annually and has a 22% net internal rate of return.
- With a current AUM of $60 million, Elevate Capital plans to deepen its investments in the Pacific Northwest and expand into new regions, including New York, the District of Columbia, Florida, Louisiana, and Georgia.
- The firm aims to be a distributor of compassionate capital, empowering underrepresented founders and increasing economic mobility and generational wealth creation in their communities.
Elevate Capital is the nation’s first institutional venture capital fund specifically targeting investments in underrepresented entrepreneurs, including women, BIPOC, and LGBTQ+ communities or those with limited regional access to capital and opportunities.
