As we prepare for our 15 Year Anniversary Celebration, we have continually looked back at our beginnings with a sense of appreciation and pride. In 1998, the world was changing – tech companies were popping up left and right, receiving both financial and intellectual capital from venture capital firms and prospering because of it. Our co-founders Bud Colligan and Penelope Douglas saw this change but also saw that people were getting left behind. Those people were brick and mortar entrepreneurs on Main Street. Entrepreneurs who had the capability of not only generating profits, but who were also poised to create good jobs in vulnerable neighborhoods, if only they had the resources they needed to grow their businesses.
And, thus, PCV was born as Silicon Valley Community Ventures. Bud and Penelope knew that bringing those same tools to brick and mortar businesses that tech companies were receiving, they could boost businesses on Main Street and create more jobs. By combining expert advice, sufficient capital and access to extensive networks and lucrative markets, Bud and Penelope, along with early board members and funders, created an ecosystem of change that works together to create economic prosperity in vulnerable communities.
Over the past 15 years, PCV has supported 3,000 entrepreneurs, created and maintained 30,000 jobs and driven $300 million in wages into lower-income communities, all while also disseminating our best practices on impact investing with countries around the world to influence policies that support small businesses. Join us in celebrating these accomplishments and honoring the visionaries who started it all at our 15 Year Anniversary Celebration on May 22nd.
