Friday July 11, 2014 0 comments
DENVER - Two private equity executives have raised $62 million from state-based investors to create the Colorado Impact Fund aimed at helping companies beyond the startup stage that have a defined impact on the community.
Jim Kelley, co-founder of Vestar Capital Partners, and Ryan Heckman, former Excellare Partners senior executive, announced the fund earlier this week.
The fund will target investments of $2-$6 million in community health, natural resource conservation, education and workforce and economic development throughout the state.
The fund is being managed pro bono by an affiliate of Vestar Capital Management with no management fee or carried interest, organizers said.
The fund is expected to invest in 10-15 companies over the next five years, with an announcement of the first company investment expected in the next few months.
All of the companies to be invested in must have at least $2 million in annual sales.