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Fund Profile:
Impact Seven, Inc.
147 Lake Almena Drive, Almena WI 54805
Telephone: (715) 357-3334
Fax: (715)357-6233
Website: www.impactseven.org
Email: impact@impactseven.org
Key Personnel: William Bay, President
Established: 1970
Total Committed Capital: not available
Amount Invested: not available
Geographic Focus: Wisconsin
Background
Impact Seven was founded in 1970 by people of northwestern Wisconsin concerned with a waning economy, the out-migration of youth, and the poverty of area residents. Since then I-7's mission - to comprehensively impact the population of Wisconsin, with an emphasis on the rural areas of the state - has remained the same, but the organization has greatly expanded its reach. As one of the oldest and most accomplished community development corporations in the country, Impact Seven has been able to capitalize a Venture Capital Fund from its own retained earnings, investment income, and other sources, giving it a powerful economic development tool to foster growth and innovation. The availability of equity financing is often identified as the key to strong economic growth, yet Wisconsin typically ranks near the bottom nationally in terms of the amount of venture capital injected into its businesses. Impact Seven's Venture Capital Fund is one of the few such funds in Wisconsin.
Social Mission
The Fund aims to enhance the livelihoods of residents of Wisconsin by helping to build businesses that build the region's economy.
Investment Information
Generally, this fund is available for ventures that have high growth potential and will consider sharing equity. This fund can be also be used for debt financing or a combination of debt and equity when appropriate. Due to the higher risk involved, this fund is used for projects through which Impact Seven will obtain a quality return, which range from 18-30% (negotiable), with a negotiated exit strategy. Impact Seven's Venture Capital Fund is available statewide, in rural and urban locations, so it gives Impact Seven the flexibility it needs to make deals happen, whether they be in Madison, Marinette, Menomonie, or Minoqua. The Fund has no industry preferences. Although the amount of money available varies depending on Impact Seven's activities, the fund has invested from $50,000 to more than $3 million in a growing business.
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