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What We Do

Fair, flexible capital.

To close the gender and racial wealth gaps, ICA invests in and accelerates local, value-driven businesses that make good jobs available to women and people of color. We are committed to funding entrepreneurs often overlooked by mainstream funders.

Get funding.

ICA is your long-term partner for growth. Get investment for your small business when the time is right and learn how to raise capital.

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Invest now.

Invest your growth capital in ICA and help create wealth-building opportunities for underestimated entrepreneurs.

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How it works.

Target Investment Criteria

With strong potential for profit, growth, and scalability

Committed to fair and equitable compensation and benefits for all

Committed to equity/profit distribution to workforce

Based in the nine counties that comprise San Francisco Bay Area

Led by and/or has a workforce inclusive of women and people of color

Types of Funding

ICA provides flexible, patient capital options to align with the growth of each company. Our typical investment size is around $500,000. We invest in businesses primarily through the use of a convertible note structure (short-term debt that can convert into equity). In some instances, we also provide other types of funding tools, such as term loans or equity investments.

Convertible Notes

ICA loans money to your business, and instead of a return in the form of principal plus interest, ICA can receive equity. Convertible notes provide flexibility, alignment, and can serve as an asset on your business’ balance sheet to help you raise additional capital and operate your businesses. If you want to learn more about funding from ICA, email us at

Preparing for Investment


Prepare yourself and your business for growth with ICA’s accelerator programs. Small businesses that complete the programs have a better chance of getting funding.

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Resource Library

From legal to marketing and everything in between, we share our network of resources in the Bay and beyond.

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Investment Team

Who we are.

ICA brings together a talented team and an experienced group of impact investors and longtime backers of ICA. The ICA investment team is supported by the Investment Committee, which provides oversight for our investment decisions.

Allison Kelly


Chief Executive Officer

John Gough

Chief Investment Officer

Yui Ueno


Senior Director of

Willis Wilson

Portfolio Manager

Lovely Abordo


Financial Analyst

Jim Harris


Chief Executive Officer

Jack Russi

National Managing Partner

Justina Lai

Chief Impact Officer

Wetherby Asset Management

Alberto De Almeida

Managing Director, Ret.

Keefe, Bruyette & Woods

Investment Strategy

How we think.

Target Investment Criteria

Profitability + Social Impact. Evidence shows gender, racial, cultural, and ethnic diversity play a substantial role in driving profitability and growth for many businesses, both large and small. Companies that are more racially and gender diverse are

33% more likely to have industry-leading profitability

21% more likely to outperform on profitability

27% more likely to have a superior value creation than their peers

Businesses that have diverse employees fairly represented at the executive level and throughout the company are more profitable than their peers with less diversity.

Portfolio Companies

Who we bet on.

ICA’s current portfolio consists of 9 companies. Each company has a tailored workplan to achieve revenue growth and job creation targets, mitigate risk, and ensure a favorable return on investment for the fund.

Track Record

How we measure up.

ICA has provided invaluable support to some of the San Francisco Bay Area’s most recognized founders and brands, including Blue Bottle Coffee, Numi Tea, Revolution Foods, and Back To The Roots, among many others.

See More of Our Impact

$2.6M Deployed

$2.6M Deployed

159 Jobs Created

159 Jobs Created

$23.20 Average Wage Paid

$23.20 Average Wage Paid

94% Offer Benefits

94% Offer Benefits

80% Owned by People of Color

80% Owned by People of Color


What we look for.

The businesses ICA invests in are successful companies poised for growth and committed to creating good jobs and building value for the owners and their employees. These companies have the potential to produce positive economic and social impact locally by demonstrating:

Scalable and profitable business models

A commitment to the equitable and fair treatment of their employees

A commitment to racial and gender diversity in leadership positions and across their workforces

ICA carries a strong investment pipeline and counts on a robust referral network of over 600 current and past cohort companies, and more than 40 strategic partners to identify potential portfolio companies. ICA has a stellar reputation for mission-aligned debt and equity financing that is the right size, at the right time.

Invest with us.

If you're interested in making a difference, join ICA in fueling the Bay's best businesses for impact.

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