Ignite Capital

Today and every day.

?? Friday news roundup ?? Shining a light on recent successes within the Ignite Capital portfolio: ?? URBAN OYSTER BAR & EATERY's founder Jasmine Norton was recognized by the The James Beard Foundation (read all about it in the Baltimore Banner). Jasmine has leveraged her business to?create opportunities for Baltimore’s local workforce. Her restaurant actively hires community members, providing?jobs and training?to those looking to build careers in the food and hospitality industries. By prioritizing local hiring, The Urban Oyster is not just serving the highest quality food—it’s contributing to the city’s economic growth and?supporting Baltimore’s culinary community. ??? Home Helpers Home Care led by Bianca Wise won the?Caring Stars Best Home Care?award for the ? third ? year in a row! (one of only eleven agencies in Maryland to receive this honor). As of August 2024, Bianca's home care franchise plays a vital role in Baltimore’s workforce. She employs?40 members, including a dedicated Care Team, part-time HR and recruiting consultants, and an independent contractor nurse. Of these employees,?28 Care Team members live in Baltimore City, reinforcing her commitment to local job creation. We're bringing investors, resource partners, social entrepreneurs, and community leaders together to explore the forefront of developing and scaling local initiatives that foster collective opportunity and prosperity. By nurturing changemakers and their projects, we aim to create a ripple effect of positive transformation in Baltimore City.

?? Friday news roundup ?? ?? We are gratified to work in concert with James Wahls and the Revolve Fund. Their approach to considering and employing creative financing tools to drive capital to communities traditionally excluded from the economy deeply resonates with our own practice and we are proud to partner to support social entrepreneurs in Baltimore City. ? Want to learn more about our approach? We'll be leading the Integrated Capital Lab at Innovation Works Baltimore's Neighborhood Economics Lab. We'll hear about the entrepreneurial journeys of founders Travis Bell, Marvin Montague and Aleah Rae Montague, and Nkenge Yasin, including how and why they launched their enterprises, the day to day challenges they face, their ambitious vision for the future and how *you* can collaborate with other community members to play a key role in their success. ?? Learn more and RSVP today for the Integrated Capital Lab: https://lnkd.in/ekdJ72ER

?? Friday news roundup ?? Social entrepreneurs in the streets this week (And kitchens, communities, and conferences)! ?? Aleah Rae Montague and Marvin Montague of Meat The Mushroom and Lane Levine of A Friendly Bread were featured in the Baltimore Business Journal discussing the limited growth resources available to food and beverage businesses in Baltimore. "Food startups also struggle to raise investor capital, so saving money and time by making their own equipment, delivering the products themselves or creating items that can last for months on the shelf are critical as they try to get to the next stage of growth." The struggle to raise capital is real. https://lnkd.in/e42tViwT ?? Headlines are also capturing what's possible - and what we've believed all along: This week the Baltimore Beat featured success stories like that of Quincy Goldsmith, founder and owner of Stem & Vine, which is demonstrating how Black business owners are leading the movement to make Baltimore's Downtown neighborhoods bustle again. https://lnkd.in/e_S_r5xv ?? At ImpactAlpha, Roodgally Senatus provided an excellent writeup on how impact investors are learning, building, and taking action to foster collaborative place-based investing for broader impact. https://lnkd.in/euarYf9Q ?? Mark your calendars: Ignite Capital is leading the Integrated Capital session at Innovation Works Baltimore's Baltimore Neighborhoods Economic Lab, which will feature Travis Bell of Black Acres Roastery, Nkenge Yasin of Learning How! and Aleah Rae Montague and Marvin Montague of Meat The Mushroom. We'll get detailed look at the entrepreneurial journey of these local social enterprises from inception to their ambitious growth objectives. RSVP today! https://lnkd.in/eb3eHrVw

?? Friday news roundup ?? ?? Jeanelle Spencer, who founded and leads portfolio enterprise ZEHBRAS, made headlines this week for opening Baltimore City's first Black-owned CrossFit gym. She's creating new opportunities to address health disparities in predominantly Black neighborhoods in the city. Additionally, the team is out in the field this month, learning from and leading conversations with impact investing and philanthropy professionals who are developing funding strategies and honing financial practices that advance racial, gender, social, and economic justice. ?? Earlier this week, Portfolio Operations Director Lindsey Henley attended ImpactPHL's Total Impact Summit (#TIS24), joining a group of impact investors and leaders from across the US whose investments are shaping and setting new standards for a future economy that is inclusive, sustainable, and resilient for all. ?? Next week, Ignite's President and CEO A. Jay Nwachu is headed to the Mission Investors Exchange to convene with impact investors in philanthropy, in an action-focused and collaborative space for foundations to build partnerships, experience on-the-ground impact investments, and hear from the leading voices in the field. https://lnkd.in/es84Ermz

"Baltimore-area residents—especially Black Baltimore-area residents—exhibit a strong entrepreneurial spirit. Overall, 23.3 percent of Baltimore-area residents considered being an entrepreneur a better path to financial success than working for an established business. Black Baltimore-area residents, however, were twice as likely to endorse this opinion... race [also] shapes the entrepreneurial outlook among Baltimore-area residents. Black residents were more likely to identify entrepreneurship as the best path for financial success." https://lnkd.in/eYgJr7iz

"Whether it's their own or institutional capital, women are playing essential roles in building tomorrow's economy, and often through paths that seek to ensure that profit, people, and the planet all work together." From investing in affordable housing, to cultivating diversity in asset management, to creating a world in which women, particularly women of color, can thrive as business leaders, here are six women building that ecosystem today as investors, entrepreneurs, and serious changemakers. https://lnkd.in/eQt56U4Y

?? Friday news roundup ?? ?? Social entrepreneurs wear so many hats and Bree Jones is no exception. Even within the Ignite Capital and Innovation Works Baltimore ecosystem, she's held many roles: from accelerator to participant, to vested portfolio enterprise, to investment committee chair, to board member. And now - April's Woman of the Month, named by Women of Color in Community Development. Congratulations, Bree! https://lnkd.in/e2teSM-i? ?? Weekend Read: The Powerful Ripple Effect of Black and Brown Women in Business We love to read what we know, believe, and invest in: "Black and Brown women are not just starting businesses at an impressive rate. They're transforming the landscape of entrepreneurship. Despite facing significant hurdles, their impact goes far beyond the bottom line." https://lnkd.in/eshxjdeK