CL Fund Raising $22 Million in New Capital
September 12, 2006
To kick off fundraising of $22 million in new capital that is expected to take five years, the CL Fund has received $585,000 from the Community Development Financial Institutions Fund of the US Treasury Department. CL provides loans to businesses with a track record of generating job growth, as well as early-stage funding to startups. Jay says the CL Fund is important in that they're there for companies that have great growth opportunities, but may not be attractive to traditional venture capitalists.
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