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This newsletter feels extra special, because we’re announcing some updates that have been over a year in the making.
With the help of our partners Nijmie Zakkiyyah Dzurinko and Viveka Chen at RoadMap Consulting, Candide Group has undergone a JEDI (justice, equity, diversity, inclusion) strategic planning process — which included extensive listening sessions about Candide’s role in the ecosystem, a refresh of our theory of change and core values language, internal coaching, and so much more.
As a team, we look forward to deepening and operationalizing our JEDI values into every piece of our work. As part of this, we are thrilled to invite you to explore our new and improved website, which we've updated to more intentionally share Candide's story, purpose and learnings. Thank you, as always, to all those who have joined us along this journey thus far!
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Recent Investments by Candide Clients
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Everytable*
Through their revolutionary restaurant model, Everytable offers healthy, made-from-scratch meals that everyone can afford.
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HCAP Partners V LP
HCAP Partners is a provider of growth capital to lower-middle market companies throughout California and the Western United States.
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Debut Capital I LLC
Debut capital is an early-stage venture capital fund focused on investing in Black, Latinx and Indigenous founders.
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Blackstar Stability Distressed Debt Fund I LLC
The Blackstar Stability Distressed Fund Program's goal is to provide investors with compelling risk-adjusted returns while generating significant benefits for low-income and moderate-income families through investments that restructure distressed mortgages and land sale contracts.
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EB PREC
EB PREC aligns technical, financial and organizational needs to support Black and Indigenous people and aligned communities to cooperatively organize, finance and steward mixed-use and residential property in the East Bay.
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Lendable provides capital to emerging and frontier market fintech companies and provides technology, asset management, and advisory services to leading investors.
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Imperative Fund
Imperative Fund LP is Imperative Advisors LLC’s associated company for the implementation of its credit instrument model. In partnership with a development finance institution, Imperative Fund LP is expected to rank as one of the top-five largest providers of housing credits for the years 2022 – 2024 in its current market of operations.
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Solar Holler*
Solar Holler is bringing residential and commercial solar to West Virginia.
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Ruthless For Good Fund I LP
The Ruthless For Good (RFG) Fund, invests in ruthless for good founders whose companies are creating good trouble in order to create financial value and positive social impact.
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Ultranauts*
Ultranauts provides onshore quality engineering and assurance services to F500 enterprises, hyper-growth startups, and top-tier digital consultancies. Their cognitively diverse teams, 75% of whom are on the autism spectrum, are uniquely equipped to improve data and software quality across a wide range of industries undergoing digital transformation.
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MaC Venture Capital II LP
MaC Venture Capital is a seed-stage venture capital firm that invests in technology startups leveraging shifts in cultural trends and behaviors.
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Raven Indigenous Impact Fund II
Raven Indigenous Capital Partners facilitate the flow of capital through impact investing, and support the ongoing revitalization of the Indigenous economy in Canada and the US.
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Firebrand*
Born and raised in the East Bay, Firebrand is committed to serving the community both as an employer and as a local artisan bakery. Firebrand is committed to hiring formerly incarcerated and homeless people. The investment was designed to include workers in profit sharing alongside investors, and to transfer partial ownership of the company into a Purpose Trust to ensure long-term mission preservation.
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Posigen*
PosiGen provides renewable energy systems and energy efficiency retrofits to low-to-moderate income homeowners.
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Working Power Impact Fund
Working Power seeks to reinvest in healthy, economically resilient neighborhoods while meeting the needs of investors.
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Investors often see a company’s initial success as evidence of superior capabilities. Often, initial success is down to luck or circumstances beyond the company’s control. Many companies that fail may in fact be more capable of superior performance.
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Nearly doubling the $110M raised in its seed-stage fund.
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Please join us in welcoming our incredible new team members — Kimberli Cavazos Hawyood (she/her) serving as Candide Group’s Director of Investments, and Neal Parikh, Co-Managing Director of Candide Group’s forthcoming Climate Justice Fund! We are beyond lucky to have Kim and Neal on our team. | | |
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Kim works to inspire and be inspired by her work. After spending two decades at the intersections of community development and banking, she understands the urgent need of stewarding capital toward systems that uplift a society in which humanity, dignity and respect are valued.
Most recently, Kim managed an investment portfolio of $300m in affordable housing, venture capital and private equity investments driven to benefit underinvested communities. Her vast corporate background includes experience in finance, communications, regulatory compliance and governance. She has served many communities through non-profit and grassroots volunteer work and has been the recipient of multiple awards for outstanding achievement. Kim is a graduate of the University of Utah and holds a bachelor's degree in Communications with an emphasis in journalism.
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Neal has spent his career financing and developing climate-friendly infrastructure, both in the US and emerging markets. He is currently a managing director for Lattice Impact Capital in addition to his role as co-managing director of the Climate Justice Fund.
As the former head of finance for BrightFarms, he raised more than $80m in equity and debt and pioneered "Produce Purchase Agreements" with blue-chip retailers such as Kroger, Giant and Walmart. Prior to Brightfarms, Neal served as Vice President of Global Sustainable Finance at Morgan Stanley and as a senior policy advisor to Mayor Michael Bloomberg, where he launched an award-winning financing intermediary to scale building energy-efficient improvements.
He has also structured and financed large-scale infrastructure projects in sub-Saharan Africa. Neal has a BA (magna cum laude) from Brown University and received a Master's in Public Policy and Urban Planning from Harvard University.
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From Our Community to Yours
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Back in 2019, private prison company CoreCivic sued Candide Group and Morgan Simon for their activism during the family separation crisis. It's been a long battle and this week we had another victory that we're really excited to share with you. The court ruled in Candide’s favor, affirming that important protections for free speech called anti-SLAPP laws are upheld for journalists and activists across the country. We still have more work to do to finish another piece of this particular lawsuit, though, so stay tuned. We are thrilled to get to play a part in protecting activists everywhere.
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This Fall, Candide Group will be releasing our first public Impact Report, featuring data from the companies, funds, and organizations we advise investments into on behalf of our clients. We can’t wait to share our learnings with you all!
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As the Olamina Fund nears the close of its first stage, we’re excited to share our learnings from the past few years about what it takes to promote racial and economic justice, create access to capital, shift traditional power dynamics, support innovative models, and demonstrate community-centered practices in finance. As a preview for Olamina 2.0 — our community can expect to see investments that will support themes of power-sharing, land-based liberation and healing, self-determination, cultural preservation, and permanent affordability; particularly for Black, Indigenous, and immigrant communities. Stay tuned!
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Follow us on Twitter or visit CandideGroup.com for more!
View our list of past specific recommendations for the last 12 months. For more information about Candide, please see our Form ADV, Part 2A.
Disclosure: The information contained in this document is intended for educational and information purposes only and should not be considered investment tax or legal advice or a recommendation to buy or sell any particular security. Please consult with your tax and legal advisors regarding your particular circumstances.Certain statements contained herein may constitute projections, forecasts, and other forward-looking statements, which do not reflect actual results and are based primarily upon a hypothetical set of assumptions applied to certain historical financial information. Certain information has been provided by third-party sources, and, although believed to be reliable, it has not been independently verified, and its accuracy or completeness cannot be guaranteed.Any opinions, projections, forecasts, and forward-looking statements presented herein are valid as of the date of this document and are subject to change.The investment discussed herein have been included based on the following methodology: all investments Candide Group has facilitated on behalf of our clients since the publishing of our last all-network newsletter, and investments with recent public news events. For a complete list of all investments, please click the “list of past specific recommendations for the last 12 months” link above. The views and opinions are those of the author as of the date of publication and are subject to change at any time. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Candide Group is under no obligation to update this information after the date of this publication.Past performance is not indicative of future results; no representation is being made that any investment will or is likely to achieve profits or losses like those achieved in the past, or that significant losses will be avoided. An investor should consider the investment objectives, risks, charges and expenses of any financial product carefully before investing. Investing involves various risks, including loss of principal. Charts and graphs provided herein are for illustrative purposes only. For more information about Candide, please see our Form ADV, Part 2A.
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