The California Initiative has committed over $1 billion to companies located in traditionally underserved markets, primarily, but not exclusively, located in California. The Initiative has sought to discover and invest in opportunities that may have been bypassed or not reviewed by other sources of investment capital. The California Initiative’s primary objective is to generate attractive financial returns, meeting or exceeding private equity benchmarks. As an ancillary benefit, the California Initiative was designed to focus investment in California’s underserved markets an invest in portfolio companies that:
- Have historically had limited access to institutional equity capital
- Employ workers who reside in economically disadvantaged areas
- Provide employment opportunities to women and minority entrepreneurs and managers
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