PA State Small Business Credit Initiative (PA-SSBCI): Diverse Leaders Venture Program
Pennsylvania Department of Community & Economic Development
Who can apply
Venture Capital Firms possessing the following are eligible: Demonstrated ability to raise a minimum of $10M Program dollars may not represent greater than 20% of venture fund committed capital Resources, expertise and intent to invest in companies that are located in PA Target investment sectors that are technology related or high growth oriented (i.e., life sciences, advanced manufacturing, information technology) Prepared to pay a 1% origination fee on Program commitment awarded
About this opportunity
The Diverse Leaders Venture Program component of the Pennsylvania – SSBCI Program (PA- SSBCI) provides loans to venture capital general partners of diverse status having the wherewithal to invest in Pennsylvania small businesses. The loan will be matched by private funding that will create investments in small businesses led by individuals of diverse status that are in need of support and resources to expand and create jobs. For purposes of this program, diverse status is not limited to race or ethnicity but rather is broadly inclusive of membership in a variety of additional types of underserved populations, such as, for example, those based on geographic location or socioeconomic status.