Impact America Fund
Impact America Fund is a 100% Black female-owned venture capital firm headquartered in Oakland, California, investing $500K to $3M at Seed through Series B in startups that advance economic agency for people of color, managing $177M in AUM across three funds.
- Company typePrivate
- Founded2014
- HeadquartersOakland, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Impact America Fund does
Impact America Fund is a 100% Black female-owned venture capital firm headquartered in Oakland, California, founded in 2014 by Kesha Cash. The firm invests at the Seed through Series B stages, deploying $500K to $3M per company into startups whose commercial success increases economic agency and participation for people of color and low-to-moderate income communities. Sectors of focus include fintech, healthcare, the care economy, beauty and retail, and future-of-work platforms, with portfolio companies such as CareAcademy, SoLo Funds, Twentyeight Health, Esusu, Mayvenn, and Nest Health. The firm manages $177 million in total assets under management across three funds, with Fund III having closed at $112 million in June 2023 with a target of 30 new investments.
Revenue mechanics follow conventional VC economics: management fees on committed and deployed capital plus carried interest from successful exits. Deal flow originates primarily through a curated network of investors, founders, and limited partners that the firm describes as 'friends of the fund', supplemented by a public Airtable pitch form. The firm positions itself as a counter- or pre-consensus investor, with cultural fluency to surface opportunities that mainstream VCs miss. Notable realized exits include ConnXus from Fund II. The limited partner base spans major foundations (W.K. Kellogg, Ford, MacArthur, California Wellness), institutional and corporate investors (MassMutual, Goldman Sachs Asset Management, Deutsche Bank, Cambridge Associates, Pivotal Ventures), and impact-focused partners.
Rather than building proprietary technology, Impact America Fund differentiates through research-driven investment theses and ecosystem partnerships. The firm publishes landscape analyses across themes such as Computational Agency, AI Adoption in Medicaid Settings, Reproductive Justice, Maternal Health, Financial Inclusion, and the Green Economy, developed in collaboration with fellows from the Kellogg School of Management's Venture Lab and the ICM Mosaic Fellowship Program. The team is small (1–10 employees, including Kesha Cash as Founder & GP and Yusill Scribner as Head of Business Operations & Strategy), and the firm is geographically concentrated in the United States with no disclosed international expansion.
Impact America Fund firmographics
Firmographics- Name
- Impact America Fund
- Legal name
- Impact America Fund
- Website
- https://impactamericafund.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Impact America Fund is a 100% Black female-owned venture capital firm headquartered in Oakland, California, investing $500K to $3M at Seed through Series B in startups that advance economic agency for people of color, managing $177M in AUM across three funds.
- Ownership category
- akta.pro rank
Impact America Fund industry classification
Industry- Product category
- Venture Capital / Impact Investing
- NAICS
- Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Gender Lens / Diversity, Equity & Inclusion (DEI) Funds (FSANAJAM)
- akta.pro secondary industries
- Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG), Early-Stage Venture Capital (Series A/B) (FSANAAAB), Social Impact & Inclusive Finance Funds (FSANAJAH), Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)
Keywords
Where Impact America Fund is headquartered
LocationHeadquarters
- HQ city
- Oakland
- HQ country
- United States
- HQ region
- North America
Markets served
Impact America Fund business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Fund Management and Equity Investment Returns: Impact America Fund generates returns through equity investments in portfolio companies. The fund deploys capital from its $112M Fund III (total AUM $177M) into 30 new companies at Seed through Series A stages. Returns are realized through portfolio company exits via acquisition or IPO.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Seed to Series A investments |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Impact America Fund product offering
Product offeringCore offering
Impact America Fund is a venture capital firm that invests Seed to Series B equity capital ($250K to $3M per company) in startups whose commercial success advances ownership, opportunity, and empowerment for people of color. The firm manages $177M AUM across three funds, with Fund III ($112M, closed June 2023) as its current active vehicle backing approximately 30 new companies. In addition to capital, it provides portfolio support, network access, and thesis-driven research to founders serving low-to-moderate income communities.
Product overview
Impact America Fund is a 100% Black female-owned venture capital firm that invests Seed to Series B in companies serving people of color. The firm manages $177M AUM across three funds and focuses on investments that increase economic agency and participation for communities of color. Rather than offering technology products or services, the firm provides capital, mentorship, and strategic support to portfolio companies across sectors including fintech, health tech, care economy, and workforce platforms.
Differentiator
Problem solved
Functional benefit
Products and services
- Impact America Fund III A $112M venture capital fund vehicle that invests $250K to $3M in equity rounds from Seed through Series A in companies with demonstrated traction in $1B+ markets and whose commercial success advances ownership, opportunity, and empowerment for people of color. Available for capital commitment by institutional limited partners.
- Impact America Fund II A $55M venture capital fund vehicle investing Seed to Series B in companies serving people of color and low-to-moderate income communities, with 67 Limited Partners including foundations, wealth managers, and institutional investors. The fund produced the firm's first exit via ConnXus.
- Investment Thesis Research Publications
Quantifiable outcome
- 100% Black female owned firm
- +1 more outcomes
Companies that use Impact America Fund
Customer profileNamed customers4 records
Segments2 records
Ideal customer profiles2 records
Impact America Fund technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Impact America Fund partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and flagship.
- Nest HealthcoreImpact America Fund invested in Nest Health's $22.5M Series A round. Nest Health provides in-home, family-centered Medicaid care services. Impact America Fund joined investors including Socium Ventures, Amboy Street Ventures, Hopelab, University Growth Fund, and Luminary Impact Fund to expand behavioral health and SUD treatment services.
- Kellogg School of ManagementcoreKellogg School of Management's quarterly Venture Lab program brings fellows to Impact America Fund to support research function. Fellows contribute to landscape analyses and investment thesis development.
- ICM Mosaic Fellowship ProgramcoreImpact Capital Managers' Mosaic Fellowship Program brings summer fellows to Impact America Fund to support sourcing, deal diligence, and portfolio management work.
- SoLo FundsflagshipPortfolio company featured at AGM reporting on 'Cash Poor' across the country. SoLo Funds is an inclusive financial services platform with 2M+ unique downloads and nearly $1B in transaction volume serving low and moderate income communities.
- CareAcademyflagshipPortfolio company featured at AGM. CareAcademy provides home care skills training, retention, and compliance software serving agencies and caregivers across the U.S.
- Twentyeight HealthflagshipPortfolio company featured at AGM. Twentyeight Health is a digital-first women's healthcare platform serving 100,000+ users in 43 states with reproductive and sexual healthcare.
- EsusuflagshipPortfolio company featured at AGM. Esusu helps renters build credit history by reporting rent payments, serving 1.8M consumers with rent reporting services.
Scale indicators4 records
Recent moves8 records
Expansion highlights5 records
Impact America Fund competitors and assessment
Company assessmentDirect peers
- Harlem Capital Partners: Early-stage venture firm investing in underrepresented founders, with a minority-focused thesis and multi-fund track record. Highly comparable to IAF in stage, check size, and DEI mandate.
- Backstage Capital: Seed-stage fund investing in founders of color, women, and LGBTQ+ founders. Operates in a directly overlapping DEI-driven, Seed–Series A venture strategy.
- Precursor Ventures: Generalist seed-stage venture firm investing in pre-seed and seed rounds across sectors. Comparable in stage and check size though thematically broader than IAF.
- Kapor Capital: Impact-driven seed venture fund focused on startups closing gaps of access, opportunity, or outcome for underserved communities. Overlaps with IAF on impact thesis and early-stage investing.
- Chingona Ventures: Early-stage venture fund led by a Latina GP, investing in overlooked and underestimated founders. Comparable stage, check size, and underrepresented-founder thesis.
- Zeal Capital Partners: Impact-led venture firm investing in companies serving Black, Brown, and women-led founders and consumers. Closely aligned with IAF's communities-of-color thesis and stage focus.
- Socium Ventures (Socium Capital): Impact-focused venture firm investing in underrepresented founders and underserved markets. Overlaps with IAF on impact mandate, stage, and co-investment activity (e.g., Nest Health).
- Concrete Rose Capital: Seed-stage venture fund investing in Black, Latino, and women founders. Comparable thesis, stage, and check size to IAF.
Broad incumbents
- Goldman Sachs Inclusive Growth & One Million Black Women: Goldman Sachs' strategic initiatives invest in Black women, founders of color, and underserved communities through direct commitments and LP allocations. Comparable as an institutional capital allocator into IAF's category.
- Kleiner Perkins: Large multi-stage venture firm that has launched DEI-focused initiatives (e.g., KP Fellows for underrepresented founders). Represents the scaled-VC competition IAF increasingly faces for impact-titled deals.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Impact America Fund social profiles
Digital presenceImpact America Fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
Impact America Fund leadership team
Management profileNumber of profiles
Profiles2 records
Impact America Fund funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Impact America Fund M&A and investment
M&A and investmentM&A
Investments37 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Impact America Fund
What does Impact America Fund do?
Impact America Fund is a venture capital firm that invests Seed to Series B equity capital ($250K to $3M per company) in startups whose commercial success advances ownership, opportunity, and empowerment for people of color. The firm manages $177M AUM across three funds, with Fund III ($112M, closed June 2023) as its current active vehicle backing approximately 30 new companies. In addition to capital, it provides portfolio support, network access, and thesis-driven research to founders serving low-to-moderate income communities.
Is Impact America Fund a public or private company?
Impact America Fund is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Impact America Fund founded?
Impact America Fund was founded in 2014. It employs 1 to 10 people.
Where is Impact America Fund based?
Impact America Fund is headquartered in Oakland, United States, in the North America region.
How does Impact America Fund make money?
One revenue line is on record: fund Management and Equity Investment Returns.
Who are Impact America Fund's main competitors?
Direct peers on record are Harlem Capital Partners, Backstage Capital, Precursor Ventures, Kapor Capital, Chingona Ventures, Zeal Capital Partners, Socium Ventures (Socium Capital) and Concrete Rose Capital. Broad incumbents are Goldman Sachs Inclusive Growth & One Million Black Women and Kleiner Perkins.
Does Impact America Fund have an API?
No public API is recorded for Impact America Fund.
What industry is Impact America Fund in?
Impact America Fund's product category is Venture Capital / Impact Investing. Its primary akta.pro industry code is FSANAJAM, Gender Lens / Diversity, Equity & Inclusion (DEI) Funds, with a secondary code of FSAAALAG, Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure). Its NAICS code is 52394 and its SIC code is 6282.