We are not like other funds
A recent review of more than 200 articles on entrepreneurship and poverty alleviation found that entrepreneurial initiatives aiming to address poverty through venture investment have been generally ineffective. As Joel Bothello, Concordia University Research Chair in Resilience and Institutions, succinctly summarizes, “We need less fetishization of blitz-scaling in entrepreneurship and more attention to ‘scaling deep’ that addresses local problems in a more sustained manner.”
The tools currently being used to increase access to capital for underrepresented (BIPOC women, economically disadvantaged, etc.) are not working.
Based on our decades of experience of working with small businesses of all kinds to raise capital, we believe the following pillars are needed to create a funding ecosystem that actually moves investment capital into the 99% of small businesses for whom venture is not a fit:
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An attractive, centrally located gathering place to bring entrepreneurs together with community investors in a safe and supportive environment (our building at 15 W. Mulberry aka "the Mulberry")
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Individualized legal and accounting support and coaching for entrepreneurs to launch a compliant, customized community investment offering
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Place-based, legally compliant investment crowdfunding platform, CrowdfundBaltimore.com
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Financial literacy education to grow the community of savvy local investors
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Follow-on investments for entrepreneurs that succeed with investment crowdfunding
We firmly believe that these pillars will not only increase the likelihood of fundraising success for individual entrepreneurs, they will also benefit the entire community by raising awareness of the importance of supporting small businesses and making it possible to actively participate in their growth. Overall community financial literacy and empowerment will be increased and more wealth will stay local, creating jobs, growing the tax base, and recirculating in the local economy.
ABOUT OUR FUND
Opportunity Main Street, LLC was founded by Jenny Kassan and Michelle Thimesch, who are attorneys and financial professionals based in the San Francisco Bay Area and Baltimore.
The finance system is broken for all but the wealthiest and most powerful participants. The vast majority of entrepreneurs lack access to supportive funding to grow their businesses in a way that allows them to benefit all stakeholders. Non-wealthy investors lack options for investing in businesses in their own communities to grow local wealth.
In partnership with its sister organizations, Crowdfund Mainstreet, The Kassan Group, Angels of Main Street, and Community Ventures, OMS invests in real estate projects in underserved communities to support entrepreneurs and connect them with community investors. Exits will build community wealth while providing a healthy, non-extractive financial return to investors.
This webpage does not constitute an offer to sell or a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful. Additional details of the offering, which is available to accredited investors only, are included in the Prospectus.
