US-based CapStone Holdings has launched GameAbove Capital — a $50 million private venture fund focused on minority- and women-operated businesses offering sustainability-related products and services.
Adding to the arsenal of tools such as the Wisdom Fund that aim to level the playing field for underserved demographics, GameAbove Capital looks to match successful, mission-driven, expansion-staged entrepreneurial ventures by women and people of color with opportunities for thoughtful acquisitions, joint ventures and equity financing. Investment targets include, but are not limited to, products and services that further progress toward many social and environmental issues addressed in the Sustainable Development Goals — including mobility, learning and workforce development, and protecting clean water.
“Access to capital remains one of the main barriers to women and minority entrepreneurs,” said Heather Stone, a co-founder of CapStone Holdings. “GameAbove Capital provides a much-needed resource for women and minorities who clearly demonstrate leadership, ingenuity and business acumen, as well as innovation in the sustainability space.”
CapStone says it is launching the fund now in part to provide further stability for mission-driven enterprises impacted by the coronavirus.