ICA.fund
ICA Fund is a nonprofit Community Development Financial Institution founded in 1996 in Oakland, California, providing founder-friendly capital ($100K-$300K checks), an accelerator, and advisory services to growth-ready Bay Area small businesses, with a focus on underrepresented entrepreneurs.
- Company typePrivate
- Founded1996
- HeadquartersOakland, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What ICA.fund does
ICA Fund is a nonprofit Community Development Financial Institution (CDFI) founded in 1996 and headquartered in Oakland, California. The organization invests in growth-ready Bay Area small businesses that have outgrown micro-loans but do not qualify for conventional bank financing, with an explicit focus on underrepresented founders (60% women and 74% entrepreneurs of color in its accelerator cohort). Across its 30-year history ICA has evolved from Inner City Advisors into a multi-product investment and advisory platform, deploying $16 million in 2025 to 190 companies and growing total assets from $6M to $27.2M over five years.
The product portfolio includes the ICA Fund Accelerator (cohort-based education and mentorship), The Lab at ICA / Seed Capital (earlier-stage product launched 2021), and the FIAT Finance pilot (a January 2026 partnership with Fiat Finance providing bookkeeping, cash flow modeling, and CFO-level support). Typical check sizes range from $100,000 to $300,000 deployed via equity, term loans, or convertible notes, targeting companies generating near $500,000 in annual revenue with a clear growth plan. Technology is light: the organization uses Circle as its private advisor and entrepreneur hub, maintains a web-based application process, and publishes educational content (including a beginner's guide to AI for small businesses) — there is no proprietary technology stack, AI/ML capability, or third-party API distribution of significance.
As a nonprofit CDFI, ICA Fund's revenue mechanics center on philanthropic grants and Program Related Investments (PRIs) from corporate and institutional funders (Wells Fargo, Quality Jobs Fund, JPMorgan Chase, Google, eBay, Sobrato Family Foundation, Surdna Foundation, California Wellness Foundation), CRA-qualified bank investments, and recycled gains from its portfolio. Recent large inflows include a $2.25M Wells Fargo grant (March 2026) and a $4M Quality Jobs Fund investment (2025). ICA claims 9x funding leverage on every dollar invested, with gains recycled back into the fund to support future entrepreneurs. Distribution is community-led via accelerator cohorts, the Circle community, and direct founder outreach across the nine-county Bay Area.
ICA.fund firmographics
Firmographics- Name
- ICA.fund
- Legal name
- ICA Fund
- Website
- https://ica.fund
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- ICA Fund is a nonprofit Community Development Financial Institution founded in 1996 in Oakland, California, providing founder-friendly capital ($100K-$300K checks), an accelerator, and advisory services to growth-ready Bay Area small businesses, with a focus on underrepresented entrepreneurs.
- Ownership category
- akta.pro rank
ICA.fund industry classification
Industry- Product category
- Community Development Finance
- NAICS
- Credit Unions (52213), Grantmaking and Giving Services (81321)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Community Development Credit Unions (CDCUs) (FSABAEAC)
- akta.pro secondary industry
- Philanthropy & Foundations Advisory (Donor-Advised Funds, Endowments) (FSAAABAH)
Keywords
Where ICA.fund is headquartered
LocationHeadquarters
- HQ city
- Oakland
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
ICA.fund business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Investment Returns: ICA Fund invests in portfolio companies and earns returns on those investments. The gains ICA earns from their investment portfolio are recycled back into the fund to support future entrepreneurs.
- Philanthropic Capital: ICA Fund receives grants, donor-advised fund contributions, and philanthropic capital to support their operations and deployment of capital to entrepreneurs.
- Mission-Aligned Investment (PRI/CRA): ICA Fund receives Program Related Investments (PRI) and CRA-qualified investments from banks and corporate partners who seek to meet community lending requirements while supporting economic development.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Seed Capital Investment |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels8 records
ICA.fund product offering
Product offeringCore offering
ICA Fund is a nonprofit Community Development Financial Institution (CDFI) that provides founder-friendly capital, including equity, term loans, and convertible notes, along with advisory and accelerator programming, to small businesses in the Bay Area. It also deploys philanthropic, PRI, and CRA-aligned capital to support underserved entrepreneurs and runs pilot programs that supply financial-operations back-office support to portfolio companies.
Product overview
ICA Fund is a Community Development Financial Institution (CDFI) providing founder-friendly capital paired with deep, hands-on support to Bay Area entrepreneurs. The organization operates as a multi-product investment and advisory platform consisting of: the ICA Fund Accelerator (a flagship cohort-based program offering education and mentorship), ICA Fund Lab/Seed Capital (for earlier-stage businesses), and FIAT Finance (a financial operations support program launched in 2026 with partner Fiat Finance). ICA provides diverse funding options including equity, term loans, and convertible notes with typical check sizes of $100,000-$300,000, alongside strategic advising, community access, and ecosystem support. Target portfolio companies are generating near $500,000 in annual revenue with clear growth plans, focusing on sustainable consumer products, health and wellness, tech-enabled services, and workforce-scaled local services.
Differentiator
Problem solved
Functional benefit
Products and services
- ICA Fund Accelerator Structured accelerator program providing founder-friendly capital combined with mentoring and advisory services to small businesses in the Bay Area.
- ICA Fund Lab (Seed Capital) Seed-stage capital offering providing equity, term loans, and convertible notes to early-stage Bay Area businesses.
- FIAT Finance Pilot program that delivers financial-operations and back-office support to portfolio companies to strengthen their financial management capabilities.
Quantifiable outcome
- 89 companies funded since 2013 with $13.5M total investments
- +4 more outcomes
Companies that use ICA.fund
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles2 records
ICA.fund technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
ICA.fund partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- Fiat FinancecoreFiat Finance is ICA's partner for the FIAT Pilot, a five-month financial operations support program for portfolio entrepreneurs. Fiat Finance provides expert bookkeeping, cash flow modeling, and financial operations support tailored for fast-growing businesses, working within founder-owned data systems.
- Aspen InstitutecoreICA participated in the Aspen Institute's Shared Success demonstration, a multi-year collaboration focused on integrating job quality into small business support. Through this partnership, ICA deployed $135,000 in grant funding to nine portfolio companies to improve job quality.
- Hatcheri FoodsminorICA introduced Just Date to Hatcheri Foods, a manufacturing partner that helped the company navigate complex manufacturing transitions and stabilize production with new partners.
- Pacific Community VenturescorePacific Community Ventures is a nonprofit CDFI that invests in small businesses and supports entrepreneurs through advising. ICA partners with organizations like Pacific Community Ventures as part of the broader ecosystem supporting small businesses.
- Working SolutionscoreWorking Solutions is a nonprofit CDFI providing founder-friendly capital and support to Bay Area entrepreneurs, offering microloans and hands-on advising.
- Main Street LaunchcoreMain Street Launch provides flexible, affordable loans alongside business advising and resources for entrepreneurs.
- Cube ProsminorCube Pros is an endorsed financial partner by ICA for portfolio companies seeking bookkeeping and financial services.
- Alliance Community DevelopmentminorNonprofit providing free, one-on-one advising and navigation services to help small business owners identify funding opportunities and connect with resources.
- Centro Community PartnersminorSupports underserved entrepreneurs through education, one-on-one advising, mentorship, and access to capital.
- Hello AliceminorFree platform helping small business owners find funding opportunities, grants, and personalized resources to grow.
- Renaissance Entrepreneurship CenterminorProvides bilingual training, business planning support, and incubation services to entrepreneurs from diverse backgrounds.
- Uptima Business BootcampminorMember-owned business accelerator offering hands-on education, resources, and community for entrepreneurs.
- Project EquityminorProject Equity helps businesses transition to employee ownership, partnering with ICA to advance employee ownership as a wealth-building strategy.
Scale indicators12 records
Recent moves6 records
Expansion highlights6 records
ICA.fund competitors and assessment
Company assessmentDirect peers
- Working Solutions: Bay Area nonprofit CDFI providing microloans and one-on-one advising to underserved entrepreneurs. Directly overlaps ICA on geography, customer segment, and mission; ICA itself lists Working Solutions as an ecosystem partner.
- Main Street Launch: Bay Area CDFI offering flexible loans plus advising and resources to small businesses. Same geography, customer base (growth-stage SMBs), and capital-plus-services model as ICA; also named as a partner.
- Pacific Community Ventures: Bay Area nonprofit CDFI investing in small businesses and supporting entrepreneurs through advising. Operates in the same nine-county footprint with the same mission-aligned investment thesis; listed as an ICA ecosystem partner.
- Accion Opportunity Fund: Community development financial institution providing small business loans and advising to underserved entrepreneurs across the U.S. Closest functional comparator to ICA: capital + advising, mission-driven, similar check-size philosophy with broader geographic reach.
- Kiva: Nonprofit crowdfunding platform that provides 0% interest loans to underserved small businesses globally. Overlaps with ICA on mission, target borrower profile, and use of loans (vs. grants) to grow community-based enterprises.
- Capital Impact Partners: National CDFI providing loans, equity, and capacity-building to communities and small businesses, with a strong focus on underinvested founders and quality jobs. Closely comparable operating model: capital + advisory + impact focus, similar stakeholder base (banks, foundations).
Broad incumbents
- Grameen America: U.S. microfinance nonprofit providing small loans to entrepreneurs, predominantly women, in low-income communities nationally. Similar social-mission lending model to ICA, but larger scale, different geography, and focus on micro rather than growth-stage capital.
- Community Reinvestment Fund: National CDFI financing small businesses and community development projects through capital deployed via partner CDFIs. Comparable in mission and CRA-driven funding model, but operates at far greater scale and plays an intermediary role rather than direct lending only.
Others
- Opportunity Finance Network (CDFI industry network): National membership and advocacy network for CDFIs, including certification, training, and capital-intermediation programs. Directly relevant to ICA as a sector infrastructure player; ICA is connected to this ecosystem via CDFI Fund certification.
Emerging players
- RSF Social Finance: Nonprofit impact lender and CDFI providing loans to social enterprises, including food systems, education, and regenerative agriculture. Mission-aligned investor with overlapping capital-and-advisory model; smaller footprint but similar portfolio tilt toward values-based SMBs.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
ICA.fund social profiles
Digital presenceICA.fund compliance and trust
Trust signalCompliance1 record
ICA.fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
ICA.fund leadership team
Management profileNumber of profiles
Profiles5 records
ICA.fund funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ICA.fund M&A and investment
M&A and investmentM&A
Investments15 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ICA.fund
What does ICA.fund do?
ICA Fund is a nonprofit Community Development Financial Institution (CDFI) that provides founder-friendly capital, including equity, term loans, and convertible notes, along with advisory and accelerator programming, to small businesses in the Bay Area. It also deploys philanthropic, PRI, and CRA-aligned capital to support underserved entrepreneurs and runs pilot programs that supply financial-operations back-office support to portfolio companies.
Is ICA.fund a public or private company?
ICA.fund is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was ICA.fund founded?
ICA.fund was founded in 1996. It employs 251 to 500 people.
Where is ICA.fund based?
ICA.fund is headquartered in Oakland, United States, in the North America region.
How does ICA.fund make money?
Three revenue lines are on record. Investment Returns are the primary driver. The others are philanthropic Capital and mission-Aligned Investment (PRI/CRA).
Who are ICA.fund's main competitors?
Direct peers on record are Working Solutions, Main Street Launch, Pacific Community Ventures, Accion Opportunity Fund, Kiva and Capital Impact Partners. Broad incumbents are Grameen America and Community Reinvestment Fund. Opportunity Finance Network (CDFI industry network) is listed as an others. RSF Social Finance is listed as an emerging player.
Does ICA.fund have an API?
No public API is recorded for ICA.fund.
What industry is ICA.fund in?
ICA.fund's product category is Community Development Finance. Its primary akta.pro industry code is FSABAEAC, Community Development Credit Unions (CDCUs), with a secondary code of FSAAABAH, Philanthropy & Foundations Advisory (Donor-Advised Funds, Endowments). Its NAICS code is 52213 and its SIC code is 6159.