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Fund Profile:
Murex Investments, Inc. and Murex Investments I, LP
4700 Wissahickon, Suite 126, Philadelphia, PA 19144
Telephone: (215) 951-0300
Fax: (215) 849-7360, (215) 848-3194
Website: www.murexinvests.com, www.rhd.org
Email: jacob@murexinvests.com, joel@murexinvests.com
Key Personnel:
Jacob Gray, Development Director
Joel Steiker, Business Developer
Established: 1998 (Murex, Inc.), 2003 (Murex, LP)
Total Committed Capital: $5.2 million (Murex Inc.), $4.65 million with a goal of $11 million (Murex LP)
Amount Invested: $2.16 million in 7 companies (Murex Inc.), not available (Murex LP)
Geographic Focus: the region around Philadelphia including parts of Pennsylvania, Delaware, and New Jersey.
Background
Murex Investments (MI) is a community development venture fund targeting low-income communities. The fund is a US Treasury-certified Community Development Financial Institution (CDFI) established in 1998 as a wholly owned subsidiary of Resources for Human Development, Inc., (RHD), a $90MM diversified nonprofit organization headquartered in Philadelphia. MI's first fund of $5.2MM is invested in seven companies in low-income areas and has created/retained over 250 jobs. Murex Investments is a "double bottom line" investor: it measures fund performance based on financial AND social returns to our stakeholders. Murex Investments' key differentiator is its operating model: an integrated system of control and accountability for each portfolio company.
Murex Investments I, LP is a New Markets Venture Capital fund created to participate in the Small Business Administration's New Markets Venture Capital (NMVC) Program. The Fund is also US Treasury-certified Community Development Financial Institution and is a wholly owned subsidiary of Resources for Human Development, Inc., (RHD). As an NMVC company, MI will bring an investment fund totaling $11 million, plus $3.3 million in operational assistance funds, to approximately 30 companies in distressed areas in its operating region. Like Murex Investments, Inc., Murex Investments I, LP is a "double bottom line" investor.
Social Mission
The Funds seek to create jobs and wealth for low-income people, targeting businesses that provide benefits and living wages, and opportunities for employee ownership.
Investment Information
Murex makes investments in a region around Philadelphia including parts of Pennsylvania and New Jersey. The Funds seek investments in high-value added sectors such as manufacturing and avoids businesses that would create low-wage retail jobs. The Funds typically invests between $50,000 and $500,000. Murex prefers to invest in businesses in early and later stages, rather than the seed stage. Murex has co-invested in the past and looks to further co-invest in the future.
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