Advantage Capital Partners Raises $55m to Invest in Low-Income Communities in Illinois

Venture capital and small business finance firm Advantage Capital Partners closed its first fund, raising $55m for new investments that will be made in connection with the Illinois New Markets Development programme (NMDP).

Fundraising activities were developed in partnership with First Bank, Southwest Bank and U.S. Bancorp’s Community Development Corporation.

After the good practice of the federal New Markets Tax Credit (NMTC) programme, in late 2008, the State of Illinois passed its $125m New Markets Development program aimed to attract long-term investors to low-income communities, promote growth and development and create new job opportunities.



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