Contact: David Kirkpatrick
Phone: (919) 220-8065
FOR IMMEDIATE RELEASE
5 PM EDT, June 8, 1999
Durham, N.C. and New Hope, PA. The Sustainable Jobs Fund, L.P. (SJF) is
pleased to announce the initial closing on this community development
venture capital fund, with $7 million in commitments toward a $15 million fund.
"We're excited to close on these early commitments from MBNA America Bank
(Delaware), Citibank, the John D. and Catherine T. MacArthur Foundation and
the Dakota Foundation," said David Kirkpatrick, Founder and a Managing
Director of the Fund. "We expect subsequent closings over the next few
months to bring the Fund up to a total capitalization of $15 million."
"Now we can begin to carry out our mission of investing in strong companies
in the recycling, remanufacturing and other sectors that create jobs for
low-income citizens in economically distressed regions," added Richard
Defieux, Founder and Chair of the Investment Committee.
"We have a great list of prospect companies, and expect to make our first
investment in the next couple of weeks," noted Sandra Walker, the Fund's
other Managing Director.
The Sustainable Jobs Fund is in the process of being certified as a
community development financial institution (CDFI), and is also in the final
round for a $2.25 million allocation from the CDFI Fund of the U.S. Treasury
Department. The Fund, in partnership with the National Recycling Coalition,
has previously received grants from the First Union Regional, Citicorp, Z.
Smith Reynolds and Turner Foundations. SJF has offices in North Carolina
and Pennsylvania and invests throughout the eastern United States.
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SUSTAINABLE JOBS FUND
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Address: Post Office Box 15909
Durham, NC 27704 USA
Voice: 919/220-8065
Fax: 919/220-9720
Email: david@kirkworks.com
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