New Native American Venture Fund Launched

Support Services International, Inc., and Monumental Venture Partners, LLC, today announced the official launch of Native American Capital, LP (NAC), a social venture capital fund that will make equity investments in promising new and developing high growth businesses in Native American and Alaska Native communities.

"NAC is the first venture capital fund specifically targeting all Native American communities," says Walter Hillabrant, president, Support Services International, Inc., a founding general partner, and enrolled member of the Citizen Potawatomi Nation of Oklahoma. "Unemployment and poverty are widespread in Indian Country," Hillabrant adds. "Venture capital can provide the critical link to economic development and job creation."

NAC will seek business development opportunities in several sectors "of compelling interest to Indian Country," reports Hillabrant. These include basic infrastructure industries (information technology, communications, housing technologies, alternative energy technologies and services), health care goods and services, rural environmental-based businesses, education (distance learning and teaching content), basic commerce and retailing (native arts and crafts, organic farming, recreation), and tourism.

NAC general partners anticipate raising $25 million for the first limited partnership fund - NAC, LP, Fund. NAC will take direct equity positions in businesses it supports, but does not anticipate taking controlling positions. It will provide technical assistance to its investment portfolio.

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