Apis & Heritage Capital raises $58.1m for fund to help workers of color become business owners

The fund is focused on helping low income workers and workers of color to become owners/operators of businesses.

  • The fund’s investors include investors include The Rockefeller Foundation’s Zero Gap Fund, The Ford Foundation, The W. K. Kellogg Foundation, The Skoll Foundation, Gary Community Ventures, The Robert Wood Johnson Foundation and Fresh Pond Capital
  • HC Global Fund Services is serving as the fund’s administrator
  • A&H is headquartered in Washington, DC

Black-led investment fund Apis & Heritage Capital has closed its inaugural flagship Legacy Fund I at $58.1 million, beating its initial cap of $50 million.

The fund is focused on helping low income workers and workers of color to become owners/operators of businesses.

“The whole A&H team is humbled by the outpouring of interest and support from the investment community for our novel approach,” said Todd Leverette, A&H founding partner, in a statement. “We are trying to create a better path for employees, especially workers of color, to gain from their own hard work and innovation, while also building great small companies into great bigger companies. We are deeply grateful to our institutional investors and individuals for believing in our team and our model, and are only sorry that we could not accommodate every investor who wanted to be a part of Legacy Fund I.”

A&H’s Legacy Fund I’s investors include The Rockefeller Foundation’s Zero Gap Fund, The Ford Foundation, The W. K. Kellogg Foundation, The Skoll Foundation, Gary Community Ventures, The Robert Wood Johnson Foundation, Fresh Pond Capital and Reynders, McVeigh Capital Management, Spring Point Partners, Sorenson Impact Foundation, Candide Group and Ascension Investment Management.

HC Global Fund Services is serving as the fund’s administrator.

A&H is headquartered in Washington, D.C.