Investing in Social Impact
TCF-MIC investments seek positive social outcomes and community-level impact through the intentional use of financial assets in innovative business ventures, diverse entrepreneurs, and organizations that promote inclusive growth in Greater New Haven. The investments may take the form of equity, debt, loan guarantees, or other familiar market products or instruments.
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Investment Highlights
Arts Incubation
Co-founded by nationally-renowned artist Titus Kaphar, NXTHVN is a new national arts model that empowers emerging artists and curators of color through education and access.
Neighborhood Revitalization
Connecticut Community Outreach and Revitalization Program, ConnCORP LLC. is redeveloping a blighted shopping plaza into a residential and cultural center in New Haven's Dixwell neighborhood.
Software Engineering
The Holberton School waives up-front tuition costs and designs its programs to make a well-paying career in software engineering accessible.
| Recent TCF-MIC Mission Investments | ||||||
| Project | Transaction Type | Partners | Project Type | |||
|---|---|---|---|---|---|---|
| First Niagara Home Ownership Fund | Forgivable loan for home ownership | NAACP; Neighborhood Housing Service; local financial institutions | Support for local homeownership | |||
| Fitscript | Convertible loan | Connecticut Innovations; local investors | Job creation with diabetes management company | |||
| Freshbev (RIPE Juice) | Convertible loan | A local foundation funding partner | Job creation with natural juice company | |||
| District Innovation and Venture Center | Term loan | Elm City Innovation Collaborative; CTNext; Comcast/NBC Universal; CT Dept. of Economic and Community Development | Job training and skill building to create a labor market that fuels economic growth | |||
| GDDC - Dwight Plaza | Term loan | Local Initiatives Support Corporation; Start Community Bank | Food distribution by community development corporation | |||
| Greater New Haven Community Loan Fund (now Capital for Change) | Low-interest loan | Revolving loan pool for local organizations | ||||
| Green Wave/Sea Greens | Convertible loan | Connecticut Innovations; Patagonia; TrueNorth; Partners | Job creation with green, sustainable food production | |||
| Mutual Housing | Low-interest loan | FleetBank Community Reinvestment Funds | Capital for housing | |||
| Neighborhood Housing | Low-interest loan | FleetBank Community Reinvestment Funds | Capital for housing | |||
| Neighborhood Music School | Loan guaranty | Capital for Change | Credit enhancement | |||
