blue logo Expanding Venture Capital Access program

Creating a more inclusive venture capital ecosystem

What is the IBank Expanding Venture Capital Access program?

IBank’s Expanding Venture Capital Access program is designed to create a more inclusive venture capital ecosystem, by:

  • Supporting underrepresented venture capital managers.
  • Investing in underrepresented and underserved entrepreneurs and business owners.
  • Investing in geographic areas that are socio-economically disadvantaged or that receive very limited venture capital funding.
  • Promoting climate equity and climate justice.

The Expanding Venture Capital Access program is funded through the State Small Business Credit Initiative (SSBCI 2.0) program, which was created through the federal American Rescue Plan Act of 2021 and will invest $200 million in venture capital (VC) funds and businesses in the state. $150 million of the funds will be invested in VC funds, and the balance directly to businesses.

Why is the program needed?

Though California is home to a large and thriving venture capital community, it remains demographically concentrated and extremely challenging for underrepresented fund managers and entrepreneurs to access capital. California has a unique opportunity to catalyze a more inclusive venture capital ecosystem and overcome market gaps in the industry in order to:

  • accelerate change in California’s VC community by increasing the diversity of investment managers.
  • grow diverse owned and managed small businesses.
  • attract additional private capital into overlooked and underserved regions of California and climate equity.

What is California’s SSBCI program?

The State Small Business Credit Initiative (SSBCI) is a $10 billion small business program managed by the U.S. Department of the Treasury. Funding can be used for a range of financing activities that aid small business, such as small business loans and venture capital. California has been allocated $1.2 billion to fund programs administered by IBank and the California Pollution Control Financing Authority (housed in the California State Treasurer’s Office). Learn more on IBank’s SSBCI webpage.

Get Started

Cambridge Associates screens all investment opportunities for the Expanding Venture Capital Access Program.

1. Required: When emailing Cambridge Associates, please identify if you are a company or an investment fund.

If you are a company

 

Please include an executive company summary.

Your executive company summary might include:

  • An overview of the company with summary financials
  • Capital structure
  • Current list of investors
  • Current financing specifications (what amount you’re seeking, list of potential investors the company has approached, any terms already being discussed)

If you are an investment fund

 

Please include a pitch deck.

Your fund pitch deck might include:

  • A list of historical or current investments with invested capital
  • Current valuations
  • Ownership detail
  • Team bios
  • A list of references
2. Once you have the required item, email it to Cambridge Associates.

Note: If the executive company summary or pitch deck is not included in your email, Cambridge Associates and/or IBank will not be able to properly evaluate and respond to your email.

Fact Sheet

IBank’s Expanding Venture Capital Access program is designed to create a more inclusive venture capital ecosystem. Click on the fact sheet to learn more about the program.

VC Fact Sheet

Sign up for updates

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Contact the Venture Capital Team

E-mail us, HERE

Telephone: (916) 341-6600

Office: 1325 J Street, Suite 1300, Sacramento, CA 95814

Mailing: P.O. Box 2830, Sacramento, CA 95812-2830

Contact the Venture Capital Team

E-mail us, HERE

Telephone: (916) 341-6600

Office: 1325 J Street, Suite 1300, Sacramento, CA 95814

Mailing: P.O. Box 2830, Sacramento, CA 95812-2830