FVLCRUM Partners, a lower middle market buyout firm focused on addressing the U.S. racial wealth gap, announced the final closing of over $302 million in fund commitments.
The motto of “Do well and do good” motivates many students at Tufts University, whatever their chosen career path may be. Tufts alumnus Ben Carson, Jr., A07, applies this motto everyday at FVLCRUM Funds, a private equity firm he co-founded with a focus on investing capital at scale to address the U.S. racial wealth gap. FVLCRUM recently held its final close on its debut $250 million fund, and was oversubscribed to the original target, securing over $302 million in fund commitments.
Speaking to the latest round of funding, Ben Carson Jr., Partner at FVLCRUM, shared, “We are pleased with our success in the fundraising period and remain committed to the same degree of focus as we execute on our investment and impact strategy. We appreciate the strong support of the Tufts community and are grateful for the confidence both in our team and our mission.”
The FVLCRUM strategy provides a novel approach to building sustainable ecosystems of opportunity for underserved communities while generating non-concessionary returns for investors. Due to the intentional nature of the strategy, the fund has been recognized as a Public Welfare Initiative and qualifies for Community Reinvestment Act (CRA) credit for banking institutions. This puts FVLCRUM in the rare position of being a private equity firm that is also a Volker-exempt CRA-qualified Public Welfare Initiative. FVLCRUM is driven by a mission to align critical social impact initiatives with proven investing fundamentals in order to create new sources of generational wealth for minority executives and sustainable economic growth for underserved communities.
