Citi community capital and Enterprise community loan fund has announced to invest $30 million together in the New Next Street opportunity fund. This fund is aimed at helping small businesses across New York city and Boston area.
Next Street Opportunity Fund combines growth financing with the management expertise that new business owners need to overcome and tackle the challenges of tough business environment. Next street has helped businesses since 2005, but Next street opportunity fund is a new offering. This program is designed for businesses with revenue $3 million to $60 million. Citi Community capital and Enterprise community loan are capital partners of this fund.
Next street serves as strategic advisor apart from capital provider for a business owner. They act more-or-less like a private equity fund without the equity participation. This makes Next street more attractive and favourable for small businesses as they do not eat-up the equity part. All the three partners are hopeful of the success of the model and expects it to soon move to other cities apart from just in New York city and Boston.
Next Street Opportunity Fund combines growth financing with the management expertise that new business owners need to overcome and tackle the challenges of tough business environment. Next street has helped businesses since 2005, but Next street opportunity fund is a new offering. This program is designed for businesses with revenue $3 million to $60 million. Citi Community capital and Enterprise community loan are capital partners of this fund.
Next street serves as strategic advisor apart from capital provider for a business owner. They act more-or-less like a private equity fund without the equity participation. This makes Next street more attractive and favourable for small businesses as they do not eat-up the equity part. All the three partners are hopeful of the success of the model and expects it to soon move to other cities apart from just in New York city and Boston.
No comments:
Post a Comment