Non-profit organizations and businesses in the region, including customers of Community works, Greenville Housing Fundand Houses of Hopehave a new well for capital investment.

Greenville-based donor-advised fund platform Abundance Capital received its 501(c)(3) tax-exempt designation in December and launched earlier this year, according to a press release. The fund aims to channel millions in local charitable investments to support businesses, non-profit organizations and other projects where financial returns are reinvested.

“After two decades of helping individuals support the institutions and causes that matter most to them, I have heard time and time again from donors, whether they have given $100 million or $100 million, that they want to make more with their philanthropy,” Mike Gatchell, CEO and co-founder of Abundance Capital, said in the press release. “They want to solve deep problems, generate more impact and create lasting prosperity for their communities. Abundance Capital offers people a fun new way to make their giving regenerative, using tax-deductible contributions for impact investing as well as grants.

Gatchell and Margaret Gifford created the platform to help clients combine venture capital and charitable giving tools to build stronger, more sustainable communities, according to the release. Donations can be used as equity, grants or capital loans for underserved entrepreneurs and community development projects.

“To date, our team has identified over $15 million in high-impact investment opportunities ranging from affordable housing funds and sustainable manufacturing to innovative minority-owned businesses focused on transitional co-housing” , Margaret Gifford, co-founder and chief impact investing officer, said in the statement. “Abondance Capital hopes to create a movement of venture philanthropy in the South East to seize these opportunities, by activating their charitable investments to provide appropriately sized capital to these and other social venture capital firms that are building stronger communities.”

Abundance Capital seeks to generate sustainable local economies by connecting an abundance of available capital with an abundance of ideas and talent. Clients can either identify investments themselves and submit them for consideration, using the United Nations Sustainable Development Goals as a heading, or choose from options curated by Abundance, including CommunityWorks Carolina, Greenville Housing Fund, Homes of Hope and others.

“Impact investing is little known in our region, but we are grateful to Abundance Capital for raising its profile here,” said Erin Ouzts, director of upstate entrepreneur ecosystem at Ten. at the Top, in the press release. “There is such a need for risk-tolerant, flexible and inclusive financing for entrepreneurs upstate and across the region. Abundance Capital brings together a network of forward-thinking, philanthropic angel investors to meet an urgent need for highly flexible capital for meaningful businesses.

Contact Molly Hulsey at 864-720-1223.