About the Fund
The Exelon funded RockCreek Group’s Community Impact Capital Fund was created to help businesses in Exelon communities grow and prosper by expanding access to capital.
Interested businesses can access the application and instructions are listed below.
Purpose of the CICF
The Community Impact Capital Fund was created to strengthen communities and help businesses grow by:
- Providing affordable capital to businesses that have traditionally been challenged in accessing and securing funding.
- Increasing business capacity and subsequent employment opportunities for diverse local communities.
- Utilizing the expertise of the fund manager, RockCreek to make investment decisions.
- With RockCreek, growing the capability of the capital fund through partnerships with community banks, other key local financial organizations and neighborhood organizations to source originations and provide additional investment and lending opportunities outside of the company-provided funding.
The capital fund is expected to invest in numerous businesses throughout Exelon’s service areas over the next three to five years with estimated loan amounts between $100,000 and $600,000 and equity investments of up to $2 million. To date, nearly $4 million in investments have been distributed.
$36M
Exelon created a $36M fund to support businesses that have faced funding challenges.
$2.9B
In 2022, Exelon spent $2.9B with diversity-certified suppliers.
$48.1M
In 2022, Exelon and the Exelon Foundation, provided $48.1 million in funding to nonprofit organizations, with 90 percent of our total grants supporting organizations, programs or events that serve the needs of diverse populations.
$16M
In 2022, Exelon’s utilities spent more than $16M on workforce development.
Fund Management
How the fund works
Exelon and the Exelon Foundation invested $36 million in a newly established Community Impact Capital Fund, managed by RockCreek, a leading global investment firm, to support businesses that have traditionally been challenged in accessing and securing funding. As the fund manager, RockCreek is responsible for selecting the small businesses (e.g. $500k - $10M EBITDA) with debt investments up to $600K and equity investments up to $2M that are located in and/or have a positive impact on historically disenfranchised or socio-economically disadvantaged communities in Exelon’s service areas.
Meet RockCreek
Founded in 2003, founder and CEO Afsaneh Mashayekhi Beschloss built an investment-management firm that nurtures a dynamic, diverse team with a global perspective to generate innovative solutions for institutional investors.
RockCreek’s innovative team, manages more than $16 billion and has roots in leading investment, non-profit, academic, and technology firms, bringing a deep understand of global markets to investment decisions.
Investing across all asset classes, RockCreek believes that integrating inclusion and sustainability from the very beginning is the best way to generate long-term value.
RockCreek will manage the originations and underwriting decisions to determine who gets financial investments from the Community Impact Capital Fund. RockCreek will evaluate potential fund co-investors that are aligned with the purpose of the fund.
Funding Criteria
The Exelon funded RockCreek Group’s Community Impact Capital Fund was created to support equity and economic opportunity and to help businesses in Exelon communities grow and prosper by expanding access to capital for businesses that:
- Face challenges in securing financing or getting access to capital; and
- Are located in and/or have a positive impact on historically disenfranchised or socio-economically disadvantaged communities in Exelon’s service areas, including, without limitation, through growing local businesses, creating and retaining jobs, and creating opportunities in areas such as affordable housing, education and healthcare.
- Preference will be given to businesses located in such communities.
How to Get Involved
Interested businesses can access the application here or contact RockCreek for more information about the program at cicf@therockcreekgroup.com.
For media inquiries, contact Rockcreek at clientservices@therockcreekgroup.com
Related News
-
August 02, 2021
Pepco Proposes Energy Efficiency Programs to Help Residential and Business Customers Save Money and Support the District’s Leading Climate Goals -
June 09, 2021
Exelon Foundation and Exelon Corp. Name Selected Startups in Second Round of Climate Change Investment Initiative -
July 16, 2019
Exelon Invests $5 Million to Bring Washington, D.C. Communities Together -
October 27, 2021
Exelon Announces $36 Million Equity Fund to Support Minority-Owned Business Growth -
May 04, 2022
Exelon-Funded $36 Million Racial Equity Capital Fund, Administered By RockCreek, Accepting Applications From Minority-Owned Businesses In Service Areas