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Core Innovation Capital II, LP

United States of America

Last updated 11 May 2020, by Impactyield.

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Core Innovation Capital II makes early stage investments in companies that stimulate economic growth in communities through solutions that save consumers time, strengthen credit, and generate income opportunities.

Core Innovation Capital is a venture capital firm investing in companies committed to empowering small businesses and everyday Americans. Our portfolio companies deliver more efficient, well-designed solutions that save people time and money, create upward mobility, and scale broadly - driving both profit margins and consumer value. Investments include NerdWallet, Oportun, and Ripple, among many others.

We were launched by and are strategic partners with the Center for Financial Services Innovation, the leading authority on consumer financial health.



Financial description

We target excellent venture capital returns, and measurable social impact.

9 years

of track record

2015

the year funded

75,000,000 USD

AUM

Interested in this fund?
Log in or create an account to request more information.

Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.

Asset manager

Core Venture Capital

Website

Headquarters location:

Other funds managed by this asset manager: Core Innovation Capital I, LP

Key performance indicators

Fund overview

Asset manager: Core Venture Capital

Product track record: Fund has 9 years of track record

Target IRR: 30%

Committed Capital: 75,000,000 USD (US Dollar)

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage: , ,

Inception year: 2015

Vintage year: 2015

Target region: , , ,

Target close date: 01/11/2016

Product term: 10 year term

Assets under management: 75,000,000 USD (US Dollar)

Investment size: Min: 50,000; Max: 6,000,000; Avg: 3,000,000

Co-investment policy: ,

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 21

Fund investments to date exited or repaid: 1

Management fee: 2.5%

Carried interest: 20%

Hurdle rate: None%

GIIN Investors' Council Investment: Yes

Limited Partners / Investors: 3 top-tier global banks, strategic investors, family offices, foundations

Limited Partner / Investor Type: Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors

Contact

E-mail: n.a.

Website: http://www.corevc.com

Phone number: 3239511505.00

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Arjan Schutte

Founder and Managing Partner

Impact Performance

n.a.

Impact thesis

The Fund will invest in companies which meet the following criteria: (1) have strong growth potential in a large and growing market; (2) provide a product or services that provide a positive impact to everyday Americans; and (3) have a scalable business model with an attractive risk and return profile.
“Positive impact to everyday Americans” will be evaluated as follows:
1. A substantial portion of a company’s end-user consumers will be 'everyday' Americans-the approximately 40% of households that lack liquid savings to cover an unexpected $2,000 expense. Companies targeting a higher proportion of underbanked and lower income consumers will be given higher priority in our impact analysis and investment decision.
2. The company’s products and services must have a positive impact on its end-users, which will be described and evaluated by the short-term and long-term value to its end-user clients. Clearer, stronger long-term impacts will be given higher priority. Examples of short-term value are price reductions that result in immediate savings for consumers. Examples of long-term value are credit building and increased savings and investment opportunities.

Impact Management

n.a.