Cleveland Avenue State Treasurer Urban Success Fund (CAST US)

A $70M initiative that will bridge the capital and resource gap impacting Black, Latinx, and women entrepreneurs in Chicago’s South and West Side neighborhoods.

CAST US will leverage the investment and entrepreneurial development expertise of Cleveland Avenue to support this historically underserved group and empower underrepresented entrepreneurs.

80%

80% of the equity capital needs of Black and Latinx entrepreneurs in Chicago go unmet, compared to 46% of White-owned businesses

$146M

There is a gap of at least $146M between supply and demand for equity capital among Black and Latinx entrepreneurship in Chicago

Too Few

There are too few equity capital providers of scale focused on entrepreneurs of color and providing the type of capital required by their businesses

Fund Allocation:

75%

Of the fund will be invested in Black and Latinx owned companies.

75%

Of the fund will be invested in South and West Side Chicago neighborhoods

50%

Of the fund will be used to invest in Women Entrepreneurs

Ideal
Candidates

Founded by Black, Latinx and women entrepreneurs
Headquartered (or have significant business operations) in the South and West Side neighborhoods of Chicago
For-profit entities representing any industry and seeking early stage growth capital
Currently in operation (generating revenue)

Portfolio Brands

Partners

Cleveland Avenue, the Illinois Growth and Innovation Fund, the Walter Family, Benefit Chicago, private and family foundations, and prominent financial institutions have come together to directly impact Black, Latinx, and women entrepreneurs in Chicago.