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Core Innovation Capital II, LP
United States of America
Last updated 11 May 2020, by Impactyield.
Fund geography
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (113)
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.
Asset class
Fund status
Fund style
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
Headquarters location: United States of America
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: United States of America
Product status: Closed - still investing
Style/Stage: Angel Stage, Early Stage, Growth Stage
Inception year: 2015
Vintage year: 2015
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
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: LPs have priority, With LPs and non-LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
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
Zev Wexler
CFO
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.