Investing in Enterprise Development

Housing Partnership Ventures provides equity-like capital for the start-up and expansion of the collaborative enterprises created by the Network and our members. Ventures made core equity investments to launch Housing Partnership Insurance, Housing Partnership Securities, and the Gulf Coast Housing Partnership. Leveraging public grants and private capital, Ventures will continue to play a key role in the financing of our social enterprises.

Core funding has come from two Neighborhood Initiative grants totaling $9.3 million authorized by the U.S. Congress in 2003 and 2006 and administered by the U.S Department of Housing and Urban Development. The federal grants were made possible through strong, bi-partisan Congressional support generated by our members throughout the country, and the leadership of the appropriations committees, particularly Senator Barbara Mikulski (D-MD) and Representative Jerry Lewis (R-CA). Merrill Lynch Community Development Corporation further extended our financing capability by providing an $8 million line of credit.

To date, Housing Partnership Ventures has made $4 million in loans to 18 Network members to purchase their equity interest in Housing Partnership Insurance; invested $2 million of equity in Housing Partnership Securities; granted $2 million to the Gulf Coast Housing Partnership; and provided $1 million of subordinate debt to the Housing Partnership Fund.

For more information, contact Matt Perrenod.