FVLCRUM Closes $302 Million Fund to Address Racial Wealth Gap

FVLCRUM Partners, a prominent lower middle market buyout firm dedicated to tackling the U.S. racial wealth gap, proudly announces the successful final closing of FVLCRUM Fund LP, alongside its affiliated sister fund entities.

The Fund has not only surpassed its initial target but has also garnered significant attention, raising over $302 million in aggregate commitments, well beyond the anticipated $250 million. The accomplishment reflects the firm’s unwavering commitment to bridging the wealth gap and fostering positive societal change.

Comprising a diverse range of investors, including institutions like banks, consultants, endowments, insurance firms, fund of funds, public pension plans, and high-net-worth individuals, the Fund’s broad investor base underscores the widespread recognition of the critical need to address the racial wealth gap in the United States.

Chijioke Asomugha, Partner at FVLCRUM, remarks, “The market’s response to FVLCRUM underscores the potential of aligning impact and alpha in driving remarkable outcomes. We take great satisfaction in the success of our fundraising campaign and remain committed to maintaining the same level of dedication as we move forward with our investment and impact-oriented strategy.” Ben Carson Jr., Partner at FVLCRUM, echoes this sentiment, stating, “Our achievement in securing funds reinforces our resolve to concentrate our efforts on executing our investment and impact strategy.”

Yves M. Mombeleur, Chief Operations Officer for Clearinghouse CDFI and Managing Director of Impact for FVLCRUM, adds, “The innovative structure and meaningful impact of FVLCRUM are genuinely exciting. By aligning impact and investments, we aspire to reshape the landscape of private equity.”

The Fund’s primary focus will be on acquiring control equity in diverse, scalable companies that demonstrate substantial growth potential and sustainable competitive advantages. The sectors targeted by the fund include government contracting, healthcare, and technology-enabled business services, all of which are areas in which the FVLCRUM team boasts extensive investment expertise.

by Tony O. Lawson

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