IMPACTASSETS 50™

An Annual Showcase of Impact Investment Fund Managers

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An Annual Showcase of Impact Investment Fund Managers

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ImpactAssets 50: A Global Landscape of Impact Investment Fund Managers
The ImpactAssets 50 (IA 50) is the first open-source, publicly published database of experienced private debt and equity impact investment fund managers.
https://www.impactassets.org/impactassets-50

ImpactAssets 50

An Annual Showcase of Impact Investment Fund Managers

IA 50 2024 PROFILE

Arkview Capital, LP

Total Assets Under Management: $100 – 499M
Asset Class: Private Equity
Primary UN Sustainable Development Goal: 10 – Reduced Inequalities
Demographic-based Impact
Diversity, Equity and Inclusion
Racial Equity and Justice

Firm Overview

Category: Private Equity - Growth Stage (Developed Markets)

Arkview was founded in 2020 by Joon Chang, Pavel Chernyshov, and Vijay Mehta who worked together for a decade at the Ziff family office in New York. The Co-Founders managed the private equity portfolio of the Ziff family and were each members of the firm’s Investment Committee. In 2020, they received backing from the Ziff family to launch Arkview Capital. The partnership is built on family office values and a culture reflective of their diverse backgrounds. The organization is intentional on building a diverse team to reflect the communities that it serves and the leadership team of Arkview consists of 5 full-time employees, comprised of 80% ethnic minority and/or women and 40% women. In addition to full-time staff, Arkview engages with Advisors who are industry experts in the field of Minority Business Enterprises and top tier service providers to fulfill all of the compliance, legal, accounting, and fund administration functions. 

Firm Headquarters: United States
Years of Operation: Less than 3 years
Total Assets Under Management:
$100 – 499M
Total Number of Investors: Between 5 – 25
% of Capital from Top 3 Investors: 50% – 99%
Investment Thesis:

Arkview is a minority-owned private equity fund that is focused on investing in and strengthening Minority Business Enterprises so that they can scale to better serve diverse communities and the diversity spending goals of large corporations. 

Investment Overview:

Arkview is a minority-owned private equity fund that is focused on investing in and strengthening Minority Business Enterprises (“MBE”) so that they can scale to better serve diverse communities and the diversity spending goals of large corporations. As the US minority population becomes majority by 2045, Arkview believes there is a multi-trillion opportunity for corporates to increase spending with MBE suppliers, and as a result, MBEs will outperform their peers. As a minority-owned fund Arkview strives to create long-term wealth opportunities for diverse founders, employees, stakeholders, and communities served.

Company Differentiator:

Arkview invests in the leading MBE-certified companies. We source proprietary opportunities through our strategic alignment with MBE advocacy groups, including the NMSDC. The former President of NMSDC is a Senior Advisor to Arkview and helps with deal sourcing and regulatory affairs.  Arkview has limited competition as less than 1% of PE funds are MBE certified. As an MBE certified fund, Arkview can provide strategic capital for MBEs to scale. Arkview adds value to companies through management recruitment, customer introductions, and help with M&A activity. Arkview has a flexible investment mandate to invest in lower middle-market MBEs with a check size between $10M to $30M of equity. This is different from peers who are more restricted to credit-oriented investments as SBIC funds. 

Investment Example

Arkview led a proprietary investment in Icon Parking, the largest MBE-certified parking operator located in NYC. • Icon is led by John Smith, a black CEO, and has 95% black & brown employee base • Attractive purchase price <5x EBITDA vs. comps trading at 10x+ • Expected returns: underwritten gross returns of 40%+ IRR and 5x multiple-of-money • Invested capital: $45 million Arkview has been instrumental in getting Icon certified as an MBE, by virtue of having minority ownership, minority control, and minority management. In addition, Arkview has supported Icon’s commitment to transition to energy efficiency and has made a commitment to install over 2,000 electric vehicle charges across its platform in the coming years to help with the clean energy transition. This has helped Icon to get recognized by the industry and CEO John Smith has recently been awarded Innovator of the Year by the National Parking Association. 

Leadership and Team

Cumulative Leadership Experience in Impact Investing:
30 years or more
Cumulative Impact Experience of Top Three Firm Leaders:
3 – 9 years
Maude Delice – Managing Director More Info

Maude Delice leads the Business Development and Investor Relations function at Arkview Capital, with responsibility overseeing fundraising efforts and providing strategic support to the firm’s portfolio companies throughout the investment lifecycle. In her previous role at Auldbrass Partners, she served as Vice President of Investor Relations becoming the sole female executive at the firm where she was instrumental in successfully raising their flagship fund. Her responsibilities included fundraising for the firm’s investment vehicles, executing the organization’s communication and marketing strategy, and managing as well as scaling the firm’s investor relationships.

Pavel Chernyshov – Co-Founder More Info

Mr. Chernyshov, together with his two partners, founded Arkview Capital in 2020. Prior to founding Arkview, Mr. Chernyshov was a Managing Director at ZBI. Most recently, Mr. Chernyshov was a member of the Investment Committee at ZBI with broad responsibilities over the investment portfolio, as well as oversight of portfolio operations and reporting functions. Since joining ZBI in 2009, Mr. Chernyshov had various roles across different groups at ZBI, including Investment Strategy, Private Markets, Ventures, and most recently the overall Investment Group. His responsibilities included identifying, analyzing and executing private investment opportunities across various market sectors and industries, as well as monitoring existing portfolio companies.

Vijay Mehta – Co-Founder More Info

Mr. Mehta, together with his two partners, founded Arkview Capital in 2020. Prior to founding Arkview, Mr. Mehta was a Managing Director at ZBI. Most recently, Mr. Mehta was a member of the Investment Committee at ZBI with broad responsibilities over the investment portfolio, as well as portfolio construction and risk management functions. Since 2010, Mr. Mehta had various roles across several groups at ZBI, including Investment Strategy, Private Markets, Risk, and most recently the overall Investment Group.

Financial Performance

Target Financial Returns Relative to Benchmark:
Above Market Rates
Actual Performance of Impact Products/Funds Relative to Target Financial Returns in the Past Three Years:
Over-delivered compared to initial target returns
Financial Reporting Frequency to Investors or Donors
Quarterly

Impact Performance

Percentage of Total Assets Under
Management that are Impact Investments:
100%
Primary Impact Outcomes:
Addressing racial inequities
Secondary Impact Outcomes:
Creating jobs
Value-added Services Offered:
Access to markets
Business and legal training
Financial literacy training
Education services
Human Resources, recruiting and professional development services

Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:

Arkview’s mandate is to invest in the leading Minority Business Enterprises (“MBEs”) that are almost by definition run by Black, Indigenous and People of Color (“BIPOC”) and/or women entrepreneurs. Arkview’s portfolio consists of companies that are certified MBEs and are operated by BIPOC individuals and/or serve a BIPOC community.  If a company is not MBE certified and/or does not have a majority BIPOC employee base or target market, it would not be a good fit for Arkview Capital.

Investments systematically include social and environmental sustainability practices in the due diligence process:

Our approach centers on two key components: Human Capital Review and Business Review. The former assesses a company's Diversity, Equity, and Inclusion (DEI) track record, while the latter scrutinizes its Environmental, Social, and Governance (ESG) performance. At Arkview, ESG/DEI considerations are paramount in our investment mandate, reflecting our commitment to our stakeholders' long-term interests. We approach our responsibilities with the utmost care and loyalty. Our investments are exclusively directed towards companies that share our ESG/DEI philosophy. Our ESG policy is structured around three core pillars: pre-deal ESG/DEI assessment, post-deal ESG/DEI monitoring, and continuous ESG/DEI training. We work to instill ESG/DEI alignment across our portfolio by establishing an ESG/DEI Board within each company. This board provides recommendations on business activities, policies, and strategies to ensure that ESG/DEI principles remain at the heart of our investments.

Impact Tracking and Monitoring

Impact is Tracked:
Yes
Impact Verified by an Independent Third-Party:
No
Social and/or Environmental Impact is Reported to Investors and Donors:
Yes – to investors and donors
Third Party Validations:
Member of Impact Capital Managers
Impact Frontiers Cohort Participant
Implement recommendations from Task Force on Climate Related-Financial Disclosure
Net Zero Assets Managers Initiative
Utilizes standardized impact metrics (e.g. IRIS+, GIIRS, etc.)
Participant on steering committees or leadership roles within impact industry associations
Publisher or contributor to industry white paper or other research in impact investing

Learn More

Key Contact Name: Maude Delice
Phone: (914) 201-3340
Mailing Address:

100 First Stamford Place 6th Floor, Stamford, NY 06902 USA

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