IMPACTASSETS 50™
An Annual Showcase of Impact Investment Fund Managers
ImpactAssets 50
An Annual Showcase of Impact Investment Fund Managers
Founders First Capital
Partners, Inc.
Diversity, Equity and Inclusion
Financial and Economic Inclusion
Workforce Development, Upskilling and RetrainingFirm Overview
Founders First Capital Partners, Inc. (FFCP) is a national impact investing platform growing diverse-led businesses to advance an inclusive economy. With a mission to solve racial and social equity gaps, FFCP deploys innovative financing products and advisory services to companies outside of major capital markets led by people of color, women, veterans, LGBTQ, and inclusive businesses in low and moderate-income zones. Founded in 2015, FFCP is pioneering the use of inclusive Revenue-Based Financing (RBF), an innovative financing structure that is an alternative to VC and bank debt which is non-dilutive, flexible, and offers investors quarterly liquidity. Founded by diverse serial tech entrepreneur Kim Folsom, FFCP is headquartered in San Diego with regional offices in Chicago, Dallas, New Jersey and Philadelphia. FFCP is backed by leading national foundations, corporations, family offices, RIAs, and high-net worth individuals aligning their portfolios with local economic impact in their surrounding communities.
Years of Operation: 5 – 9 years
% of Capital from Top 3 Investors: Less than 25%
Founders First aims to close racial and social equity gaps by providing alternative growth capital and advisory programs to diverse-led companies, helping underrepresented founders build value-generating, mid-market businesses to boost premium-wage jobs and build intergenerational wealth, while offering reliable and liquid financial returns to mission-driven investors.
Founders First Capital Partners addresses the funding gap faced by diverse-led, tech-enabled B2B companies in overlooked markets. Traditional finance options often exclude these businesses due to systemic wealth gaps, stringent credit requirements, and exclusive networks. Our unique approach combines Revenue-Based Financing (RBF) with comprehensive advisory support. RBF offers the benefits of equity and debt, providing patient yet non-dilutive capital tailored for growth. We target companies with revenues between $500K and $10M, aiming to scale them into $10M-$50M enterprises that drive job and wealth creation in local communities.
Founders First has developed an comprehensive, innovative platform intentionally delivering results for diverse-led companies, while offering a scalable solution appealing for private capital markets. Borrowers benefit from FFCP’s Revenue-Based Financing model that offers non-dilutive, flexible financing that underwrites based on business strength, not credit scores or personal collateral tied to historical inequities. FFCP addresses its members’ business barriers head-on – uniquely with support from its nonprofit arm – with high-quality accelerators, financial tools, and advisory support delivered by diverse real-world entrepreneurs, helping grow companies while de-risking investments. Investors benefit from a unique asset class with returns comparable to alternative bonds, paid quarterly which offer frequent cash flows than decade-long private funds. 100% of capital raised is deployed to small businesses, with no management fees. Investors get access to quarterly impact reports, while joining a community of leaders helping catalyze an inclusive economy.
Investment Example
When the COVID-19 pandemic hit, life sciences companies’ activities began to explode. Many of OnShore Technology Group’s clients, including Moderna, were in a race against time to bring new COVID therapies to market and to get their systems validated so that they could move their products forward. Luckily, this was OnShore’s sweet spot. OnShore CEO Valarie King-Bailey enrolled in Founders First CDC's Bootcamp and FastPath accelerator programs to learn how to capitalize on the opportunity. This led to OnShore Technology Group being fund-ready and securing a $500,000 revenue-based financing investment. After working with Founders First through the pandemic, OnShore was able to grow 2.5x, create 5 new premium-wage jobs for Chicagoans, and purchase the underlying software used by the company, dramatically increasing the owner’s wealth creation potential. OnShore also made theInc. 5000 list in 2021, 2022, and 2023, while helping the pharmaceutical industry fight the pandemic.
Leadership and Team
 |
Kim Folsom – Founder/Chairperson/CEO More Info
Kim Folsom is Founder, Chairperson, and CEO of Founders First Capital Partners, Inc (FFCP), a revenue-based investment and advisory support platform advancing an inclusive economy. She is also the founder of Founders First CDC, the not-for-profit community development arm that provides complementary small business accelerators. Since their founding in 2015, the organizations have provided funding and/or growth programs to 650+ diverse-led companies nationwide. Prior to Founders First, Ms. Folsom was a serial entrepreneur who developed her dedication for supporting underrepresented founders as one herself. |
 |
Maria Gallegos – Chief Operating Officer More Info
I'm accountable for revenue operations; sales, funding (investments, credit and underwriting), marketing/pipeline and entrepreneur business growth advisory programs. I'm also on the Investment Committee. Prior roles; Fractional COO and strategic advisor (provided consulting and advisory services to the CEO, with focus on assessing and developing funding pipeline). |
 |
John Abraham – Chief Credit Officer More Info
Process & Strategic Specialist - Entrepreneurial Leader - Credit & Risk Management Professional |
Financial Performance
Impact Performance
|
Percentage of Total Assets Under
Management that are Impact Investments: |
75% – 99%
|
Founders First believes that investing with intentionality is essential to ensuring equal opportunity for disadvantaged entrepreneurs in the U.S. Thus, we focus directly on sourcing and investing in ventures led by people of color, women, LGBTQIA+, veterans, and those in low-to-moderate income zones in regions outside of major capital markets. As a diverse fund manager with a diverse team and partner network, we are able to source companies that other funds may not have access to. Our non-dilutive investment structure ensures that founders can build strong companies while maximizing their ownership to generate intergenerational wealth for themselves and their families. Further, we also seek to invest in diverse-led businesses who seek to hire other disadvantaged individuals and provide premium wages with benefits, ensuring that the economic impact benefits broader underserved communities.
FFCP is committed to investing in companies with inclusive hiring practices. We believe that diverse founders are more likely to hire diverse workforces who face greater barriers to employment and retention. Thus, we target and track the racial and gender backgrounds of full-time, part-time, and contract hires made by our portfolio companies. Further, we want to advance economic mobility in the communities we work in across the country, so we also track the level of premium-wage jobs at prospective companies. With our funding, expansion advisory support, and connections, we help boost our companies’ profitability so that they can be successful engines of prosperity in their communities.
Impact Tracking and Monitoring
Learn More
9920 Pacific Heights Blvd., Suite #400, San Diego, CA 92121 USA
Apply for the IA 50 2022
The application period to become an ImpactAssets 50 2022 Fund Manager will open in September 2021!
To stay informed on the application process, sign up here.