Category » Washington, DC CAPCO

The $100,000 Business Plan Competition Kick-Off Event

On April 6th, Advantage Capital Partners and Enhanced Capital Partners hosted the Business Plan Competition kick-off event in DC:

The Office of the Deputy Mayor and the Washington, DC Economic Partnership (WDCEP) in collaboration with Advantage Capital Partners and Enhanced Capital Partners will kick off its $100,000 Business Plan Competition on April 6 from 6:00-8:00pm at the Washington, DC Economic Partnership’s office located at 1495 F Street, NW.

In its second year, this competition will award $100,000 of investment capital through the District’s Certified Capital Companies (“CAPCO”) Programto one winner.  In addition to the investment capital, the winner will also receive $10,000 worth of legal consultation from Venable LLP. 

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Local Coworking Venture Wins $100,000 Business Plan Competition

The 2010 Business Plan Competition was announced today.  Here are details on last year’s winner:

Adams Morgan based Affinity Lab, a business cowork venture, took first place yesterday in a business plan competition qualifying for $100,000 in investment in a tight four-way competition staged at the Washington, DC Economic Partnership (WDCEP).

“We saw four great presentations yesterday,” says Steve Moore, President and CEO of the WDCEP. “These business concepts were very exciting, but Affinity Lab stood out as the new thing. They capture what is happening now in the incubation of small businesses. Without fail, when they are done telling you what they do, people say ‘I want to be a part of that.'”

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Affinity Lab Wins Premier Plan Business Competition

Enhanced Capital Partners and Advantage Capital Partners, DC CAPCO investment firms, awarded the winner of the PremierPlan business plan competition, Affinity Lab, $100,000:

Enhanced Capital, a national private investment firm participating in the District’s CAPCO program, is happy to announce that Affinity Lab is the winner of the 1st Annual PremierPlan business plan competition. Enhanced Capital, in conjunction with Advantage Capital Partners, awarded Affinity Lab with a $100,000 check at the Washington, DC Economic Partnership (WDCEP) 2009 Small Business Awards and PremierPlan Business Plan Competition dinner.

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Enhanced Capital Awarded a $60,000,000 Allocation Under The Federal New Markets Tax Credit Progam

 Enhanced Community Development, LLC will provide loans and equity investments to businesses in underserved areas thanks to this $60 million allocation:

The United States Department of the Treasury announced today that Enhanced Community Development, LLC has been selected to receive a $60,000,000 allocation under the New Markets Tax Credit (NMTC) Program administered by the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund. Enhanced Community Development, LLC is a subsidiary of Enhanced Capital Partners, Inc. It will principally use its tax credits to provide loans and equity investments to businesses, including not-for-profit organizations, located in low-income communities in New Orleans, New York State and the District of Columbia.

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D.C.’s $50M Venture Fund Exceeds Investment Target

The DC CAPCO program has exceeded expectations and Advantage Capital Partners, Enhanced Capital Partners and Wilshire DC Partners continue to invest in start-up companies:

The District’s CAPCO program, a $50 million venture fund dedicated to Washington-based startup companies, has invested nearly $14 million in 11 companies since the program’s launch 18 months ago. While the program has far exceeded its initial goal of investing 20 percent by May 2007, it has only added one new company to the CAPCO portfolio in the last six months.

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DC CAPCO Program | Advantage Capital Invests in Washington, D.C. Bank

Through the Washington, DC CAPCO program, Advantage Capital Partners was able to invest $500,000 in NuAmerica Bank:

Advantage Capital Partners, a leading investor in the Washington, D.C., Certified Capital Companies (CAPCO) program, has invested $500,000 in NuAmerica Bank, a proposed community bank that seeks to provide banking services to small businesses and professionals in the Washington, D.C. metropolitan area. Advantage Capital is the first institution to invest in NuAmerica’s initial fundraising round, which aims to secure $20 million in capital this year.

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Advantage Capital and Enhanced Capital Invest $2 Million in ARC Solutions, Inc.

Through the CAPCO program, Advantage Capital Partners and Enhanced Capital Partners invested in ARC Solutions, Inc, located in Washington, DC:

Advantage Capital Partners and Enhanced Capital Partners have invested $2 million in ARC Solutions, Inc.,an association management software company in Washington, D.C. The fundswill be used to support continued growth.

“Advantage and Enhanced Capital believe in the value of our True On-Demand product for member-based organizations and have given us the financial ability to ramp up our efforts to reach more customers and accelerate our business expansion,” said Andrew Ryan, founder and chief executive officer of ARC Solutions.

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Frank Ciatto and Joe Walker Participate in DC Economic Partnership Business Plan Competition

The DC CAPCO program funded the DC Economic Partnership’s PremierPlan Business Plan Competition:

The Washington, DC Economic Partnership (WDCEP) recently hosted the PremierPlan Business Plan Competition, a DC-based business competition with a $100,000 venture capital prize. Venable Business Transactions Group attorneys Frank Ciatto and Joe Walker donated extensive time and effort to the success of this project.

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Advantage Capital Partners Announces its Washington, D.C. CAPCO Fund

$11 million was raised by Advantage Capital Partners for the Washington, DC CAPCO fund.  Advantage Capital says it looks forward to investing this money into a small DC business:

Advantage Capital Partners has raised approximately $11 million for a Washington, D.C., Certified Capital Company (CAPCO) fund. The fund will invest in qualified small businesses located in the District.

“We look forward to investing in promising companies with solid growth prospects, companies that will create jobs and increase demand for goods and services from other local businesses,” said Steven T. Stull, Advantage’s managing partner. “Experience in several states around the nation have shown that CAPCO investments attract additional venture capital dollars from outside the area to support entrepreneurs and their businesses, resulting in a more diverse and stronger local economy.”

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CAPCO Programs Offer Tax Credits to Attract Venture Capital for Small Business

The Journal of Multistate Taxation and Incentives discusses in-depth the importance of CAPCO programs and its success in economic development:

The “certified capital company” (CAPCO) program provides a framework for states to foster local entrepreneurship and lends itself to modifications in response to industry trends, thus giving states a new tool with which to address the priorities of the small-business sector and the states own economic development goals.

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