Happy Holidays ICA Fund Community!

As 2024 draws to a close, I’m reflecting on a year that challenged us to experiment, learn, and adapt. At ICA Fund, we explored new ways to grow and expand our impact. We are a learning organization that is building something new: a totally different way of capitalizing diverse small businesses. We know where we’re going, and we are working together everyday to figure out the best way to get there.

These explorations led us to unexpected places. Some ideas progressed as expected, while others didn’t move forward in the ways we initially envisioned. What remained consistent was our commitment to supporting diverse entrepreneurs in building thriving businesses that create lasting wealth in their communities. This is unwavering. 2025 will be about doubling down on  the support we provide for founders as they tackle the complexities of running a business in an ever changing context.

Building and sustaining a business is no small feat. We’ve always believed that women entrepreneurs and founders of color deserve the same grace and opportunities to experiment, succeed, and even fail as any other business leader. Our role is to offer these founders the tools, resources, and network to navigate challenges and grow stronger to beat the odds.

We live in complex times that demand imagination and collaboration to create better outcomes for all. We’re all about finding the ways Americans can come together, where we more similar than different. Most all of us desire safe neighborhoods, fair opportunities, diverse and creative businesses, and available jobs that sustain families. Small businesses are uniquely positioned to build bridges and foster this shared prosperity. We know that all of us can rally around the principles of fairness, opportunity, and innovation, the principles the small business sector embodies.

This year, we saw the incredible impact of our work through founders like Victor Diaz of Renegade Running (video here) and Ashley Nickelsen of BTR Nation (video here). Their stories remind us why ICA Fund exists: to partner with founders to build community shaping enterprises. Our approach works. We’ve proven that businesses led by women and people of color are not only good investments but transformative ones. When we invest in diverse entrepreneurs, their businesses thrive, their communities prosper, and we all benefit from a more inclusive and vibrant economy.

Looking ahead, our mission is clear: we’ll keep investing in the people who make our communities stronger. Together, we can build a society where opportunity flows to everyone, and every entrepreneur—regardless of background—has the chance to succeed. Let’s imagine the equitable future we want. Let’s create it. Let’s invest in it and make it real.

Thank you for being part of our journey. Here’s to a bright and impactful 2025!

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With gratitude,

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Allison Kelly
CEO, ICA Fund

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