This summer marked my five year anniversary as the CEO of ICA Fund. As I reflect on this time, I am filled with gratitude and pride for what we have accomplished. It has been an incredible journey with an inspiring community working together to create a more just and equitable economy.
When I joined ICA, I was driven by my curiosity: could we show that, by using different methods of risk assessment, we can unlock untapped value that traditional underwriting overlooks? Our work at ICA has answered this question with a resounding yes. At ICA, we’re going deep here in our community, with coaching, capital, and connections, to demonstrate a whole new way of doing business. As our tagline says, this is NOT business as usual.
We've done so much in the past five years:
- We’ve reached $13.5 million total investments in 67 companies, with 84¢ of every dollar going to women or people of color. These investments have not only fueled the growth of businesses but also demonstrated that there is a wealth of opportunity in communities that are often overlooked.
- Our total assets have grown to $27.2 million, compared to $6 million five years ago. This growth has allowed us to double down on our investments, supporting entrepreneurs in creating value, accessing markets, and mastering the fundamentals of business operations.
- We have supported 215 participants through the Accelerator. 60% of those participants are women and 74% are entrepreneurs of color.
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The journey has not been without its challenges. The pandemic and other disruptions forced us to continuously adapt and anticipate what might come next. Through it all, we have remained steadfast in our mission, ensuring that ICA stays true to its plan while being responsive to the evolving needs of our entrepreneurs.
What has been most rewarding is the sense of belonging I've found within this incredible network: our team, entrepreneurs, board, funders, and the partners we work with every day. I see that our work resonates with so many because it speaks to a clear truth: when we invest in entrepreneurs, we invest in a better future.
As we look to this future, I am excited about the possibilities that lie ahead. With your continued support, I am confident that ICA will continue to make a lasting impact on the communities we serve.
Thank you for being part of our journey. Together, we are building an economy that works for all.
Allison Kelly
CEO at ICA Fund
