IMPACTASSETS 50™
An Annual Showcase of Impact Investment Fund Managers
ImpactAssets 50
An Annual Showcase of Impact Investment Fund Managers
Chloe Capital, LLC
Small/Medium Business Development
Diversity, Equity and InclusionFirm Overview
Chloe Capital is a women and minority-owned venture capital firm founded by award winning ecosystem builders. The firm invests with a gender and diversity lens in seed through series A companies, focusing on climate, education and health enterprise SaaS. Its signature programs build layered systems of visibility, resources and networks around the diverse women leaders in its portfolio. The firm also provides visibility and network access for diverse women leaders within institutional and community partner organizations, who provide program funding and access to local networks in each city to host a signature program. The rapid virtual accelerator programs lead up to a 24-hour in-person fundraising experience, with tracking and reporting on program outcomes in the years that follow, using customized software systems built for scalability. The firm invests $100,000 - $250,000 in at least one company from each program cohort, and also invests in companies outside of the programs.
Years of Operation: 5 – 9 years
% of Capital from Top 3 Investors: 50% – 99%
Chloe Capital is investing in diverse women tech leaders who are solving the world’s biggest problems across climate, education and health.
Chloe Capital’s portfolio is targeted 100% for companies with at least one leader who identifies as a woman, and 50% for companies with at least one leader from an additional underrepresented group. Each portfolio company has, at minimum, one woman in the C Suite with decision making ability. The primary investment instrument used is Convertible Note, and check sizes are $100,000 - $250,000, with up to $1,000,000 in follow on. Investments are made in seed through series A stage companies with a product in market, early traction with customers, key partnerships in place, proven product-market fit and initial revenue. The firm will lead (~50% of the time), or follow, and investments are geographically, industry, and tech-agnostic, with a focus on US based climate, education and health enterprise SaaS companies.
Our superpower is our ecosystem building work. Movement: More than just writing a check, Chloe Capital’s signature accelerator programs allow the firm to support underrepresented founders by efficiently providing unique deal flow, visibility for founders, and access to networks and capital. Mentorship: The Chloe team has deep expertise in the needs of seed stage SaaS startups and connects portfolio companies with the resources they need to scale. The firm aims to invest in women who will mentor and support other women and build the ecosystem and community further. Metrics: Chloe Capital’s foundation is built using data and metrics, with robust database infrastructure for every aspect of the firm, fund and programs. The firm wields this data to effectively tap its broad network, grown through decades of ecosystem building.
Investment Example
COI Energy, an Energy Services data platform using AI and Machine Learning to detect, eliminate and repurpose energy waste in buildings, is led by Founder/CEO, SaLisa Berrien, a climate tech professional with over two decades of experience focused on energy efficiency, smart grid optimization, and big data analytics. COI Energy and Chloe Capital, both headquartered NY’s Southern Tier, met through numerous State-funded initiatives created to support entrepreneurship and funding for underrepresented founders. At the time of an $200,000 initial investment, announced alongside two other climate tech investments at the firm’s Fall 2021 Diversity in ClimateTech program in partnership with Cornell and supported by NYSERDA, COI had raised $3,000,000, showing market traction and revenue growth. Chloe Capital has invested $200,000 in follow-on funding. SaLisa has joined the Chloe Capital team on public panels and provide mentorship to Chloe Capital accelerator program participants.
Leadership and Team
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Elisa Miller-Out – Managing Partner More Info
Elisa Miller-Out is Chloe Capital’s Co-Founder and Managing Partner. She is an experienced serial tech entrepreneur, having founded and led seven companies over 25+ years. She is an experienced investor, having invested in 45 companies, in addition to executing 10 M&A transactions. Elisa is also an active board director and community builder. As an Innovation Advisor at NYSERDA, she helps advise on an $800 Million portfolio of entrepreneurship and investment programs for climate tech startups. |
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Myneco Ramirez – Partner More Info
Myneco Ramirez, Partner at Chloe Capital, is a data-centric technologist, entrepreneur, and ecosystem-builder with 15 years of experience in cross-functional collaboration and strategic problem-solving. Passionate about crafting innovative, scalable, and efficient technical solutions, Myneco’s entrepreneurial journey began while pursuing her Information Technology degree at the Rochester Institute of Technology. Fueled by a desire to assist others, she offered website design and implementation services to small businesses and concurrently developed a personal website to aid peers in securing IT jobs during the 2008 US financial crisis. |
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Chirag Desai – Operating Partner More Info
Chi serves as Partner at Chloe Capital. He is an experienced technology entrepreneur and operator currently focused on scaling SaaS and tech-enabled companies. He is the managing partner of an growth-equity investment firm (Vireo Growth Partners) & management consultancy (Vireo Group) and in those capacities, serves in executive positions as growth and financial advisor to several companies. Chi also serves as an active board member at local non-profits and has an extensive background in finance, operations, and M&A. |
Financial Performance
Impact Performance
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Percentage of Total Assets Under
Management that are Impact Investments: |
100%
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Chloe Capital’s deal sourcing and due diligence processes systematically target companies with at least one woman leader in the C Suite, with decision making abilities and 20% or more equity at the time of investment, in 100% of its investments. The firm also targets companies with at least one leader from another underrepresented demographic in at least 50% of its investments. All of the firm’s investments serve to eliminate racial and gender biases. In addition, the thesis represents impact themes, including climate, education and health.
Impact Tracking and Monitoring
Learn More
700 Cascadilla St., Suite 201, Ithaca, NY 14850 USA
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