ICA has nurtured small businesses in the Bay Area through capital investment and mentoring for nearly thirty years. A central part of their approach is a form of impact investing that focuses on buying equity in promising companies rather than offering loans. As those businesses succeed, ICA creates pathways for the original owners to buy back that equity over time.
ICA Fund is known as an innovator in the CDFI field because it extends patient, flexible capital on founder-friendly terms to the small businesses in which it invests. This approach is in contrast to most CDFIs, which typically offer small businesses loans rather than convertible notes or equity investment options that have extended, flexible repayment expectations aligned with the businesses growth. It’s also in contrast to venture funding, which typically focuses on high-growth businesses and expects a high rate of return over a short period of time.
Since its founding, ICA Fund has invested in small businesses with the potential to positively impact their communities. It does so by supporting founders who often have a difficult time securing capital through traditional financing institutions.
Still, a noble mission isn’t enough to sustain and prove a financial model and theory of change. That’s why ICA Fund has turned its attention to answering three interrelated questions about its investment approach.
Building on our five-year partnership, we created this new series of case studies to spotlight ICA Fund’s work to shape a more inclusive economic system: one where entrepreneurs can access the capital and partnership they need to grow, where local economies thrive, and where quality jobs expand alongside profit. Each case study speaks to a core audience and a core belief: investors can generate both social impact and returns; business owners deserve capital designed for their success; policymakers can drive widespread economic growth by supporting equity investing that works for real people.
We may be a small team, but our reach is mighty. Over the past quarter, we’ve traveled across the country and around the globe to seek out new perspectives, fresh solutions, and burgeoning insights that will shape our work in 2025.
Our latest grants reaffirm our commitment to building a more inclusive technological future by supporting comprehensive research, shaping human-centered policies, and fostering community-driven innovation to ensure these advancements benefit everyone.
Eleanor Tursman, a Siegel Fellow from 2022 to 2024, serves as an Emerging Technologies Researcher at The Aspen Institute, focusing on the intersection of novel technologies, public education, and public policy. They recently sat down with Siegel Emerging Tech Advisor Eryk Salvaggio to discuss their journey and work on AI primers, literacy, and interdisciplinary approaches to ecosystem change
How can we build a resilient public interest technology movement that withstands shifts in administration and power? Siegel President & Executive Director Katy Knight lays out her vision for change in her latest article as a Forbes Nonprofit Council member.
During this year's United Nations High-Level Week, we hosted Tech Together - a gathering of 200+ funders, mission-aligned investors, and thought leaders for a full-day event aimed at inspiring new ideas and catalyzing partnerships to shape the next evolution of a global public interest tech network. Watch featured panels and speakers, and read out takeaways.
AI tools can be used to generate content, but only humans can generate context. In an age full of systems designed for scale and demanding the rapid processing of data, local institutions can help preserve meaningful context for their communities.
The U.S. National Science Foundation announced an inaugural investment of more than $18 million to 44 multidisciplinary, multi-sector teams across the U.S. through the NSF Responsible Design, Development and Deployment of Technologies (NSF ReDDDoT) program.
