Community Development Venture Capital Alliance

Community Development Ventures, Inc.
826 E. Baltimore Street, Baltimore, MD 21202
Telephone: (410) 333-2548
Fax: (410) 333-2552
Website: www.mmgroup.com
Email: contact@mmgroup.com

Key Personnel:
Stanley Tucker, President and CEO
Catherine Lockhart, Executive Vice President
Randy Croxton, Sr. Vice President and Chief Investment Officer

Established: 1998

Total Committed Capital: $13.6 million with a goal of $25 million by 2004

Amount Invested: $5.6 million

Geographic Focus:
Baltimore's Empowerment or Enterprise Zones.

Background
Community Development Ventures, managed by the Meridian Management Group, makes equity and near equity investments in businesses located within the Baltimore empowerment zone and enterprise zones or within other targeted counties in Maryland. The fund gives priority to businesses that employ a significant portion of their workforce from CDV's target areas, aiming to fill at least 60% of the jobs its portfolio companies with residents of distressed urban areas. In addition to its investments, CDV provides management and technical assistance to its portfolio companies through its Management and Technical Assistance Program.

Social Mission
Community Development Ventures goal is to strengthen the economic base of distressed urban communities in Maryland through business and entrepreneurial development, and thereby to create high-quality jobs for low-income individuals.

Investment Information
The Fund gives preference to businesses located in Baltimore's Empowerment or Enterprise Zones or to businesses that employ a portion of their workforce from the Empowerment or Enterprise Zones, or that have plans for business expansion that will create jobs and opportunities for Empowerment and Enterprise Zone residents. Community Development Ventures invests in all industries with the exception of bars or liquor stores. CDV typically makes investment of between $100,000 and $800,000. The Fund prefers to avoid investments in seed stage businesses and is most interested in early stage, though it will also consider later stage. The Fund has co-invested in the past and would like to continue a similar rate of co-investment in the future.