Fund Profile:

New Mexico Community Capital

New Mexico Community Capital
PO Box 1302
Bernalillo, NM 87004
Tel: 505.924.2820
Fax: 505.213.0333
www.nmccap.org
info@nmccap.org

Key Personnel:
Jarratt Applewhite, CEO
Leslie Elgood, COO
Tom Keleher, Managing Director
Annette La Pietra, Sr. Project Mgr./Financial Administrator Tammy McCarty, CFO
John Rice, President, IMPACT-NM
Shyla Sheppard, Associate
Zachary Grafe, Analyst

Established: 9/23/04

Total Committed Capital: $14.65 million

Amount Invested: $8 million

Geographic Focus: Under-invested and rural areas in New Mexico

Background:
For years, business and community leaders in New Mexico investigated Community Development Venture Capital (CDVC) mechanisms and their impact on local economies. Following extensive research and deliberation, NMCC was incorporated in September of 2004. The New Mexico Small Business Investment Corporation (NMSBIC), McCune Charitable Foundation, The J.F. Maddox Foundation and Wells Fargo Bank are lead investors, having approved investments totaling $6,500,000. In addition, over a dozen other New Mexico financial institutions, foundations, and private individuals have made commitments to invest in our fund. The Fund will remain open for investment through the end of 2005. NMCC’s first fund will be approximately $10 million dollars. NMCC has commenced its fund operations as of May 2005 and will begin raising the capital for a second fund when approximately half of the capital of the initial investment fund has been committed.

Social Mission:
NMCC provides equity capital and management resources to qualifying businesses throughout New Mexico, particularly in under-invested and rural areas. At least 40% of the fund will be invested outside the Albuquerque, Santa Fe, Los Alamos metropolitan areas.

NMCC fund objectives are to:

Stimulate job growth
Strengthen local economies
Generate returns for investors
Enhance the entrepreneurial capacity of business owners

Investment Information:
NMCC provides equity capital investment and management resources to existing businesses. Investment size is generally between $250,000 to $500,000. NMCC is particularly interested in the following industries: artisan, tourism, consumer and business products and services, food processing, light manufacturing, renewable energy and environmental remediation.