The L. Ross Love GrowthBridge Fund, an investment initiative of the Cincinnati USA Regional Chamber’s Minority Business Accelerator, announced that the fund has been fully disbursed through two recent investments.
Malaihollo
Wyzerr, Inc., a Covington-based artificial intelligence company that focuses on turning consumer, employee, and customer feedback data into tasks for the business, received $105,000 from the GrowthBridge Fund.
“We’re honored and grateful to receive the final investment from the L. Ross Love GrowthBridge Fund,” added Natasia Malaihollo, founder & CEO of Wyzerr, Inc. “This additional funding will enable Wyzerr to expand its work in creating actionable and intuitive data.”
Kurense, LLC, a company that delivers unique prepaid card programs and technology platforms, received $50,000.
“This investment from the L. Ross Love GrowthBridge Fund will help Kurense in fueling our growth initiatives in operations, technology and onboarding new clients across the country”, said Wyatt Goins, President & Co-Founder of Kurense.
The Minority Business Accelerator is focused on reducing disparity in the region’s business community by driving economic activity for larger-scale African-American and Hispanic-owned companies and increasing employment in underemployed segments of the region.
Additional information about the Accelerator is available here.
The $2 million L. Ross Love GrowthBridge Fund provided direct lending to emerging, scalable African-American and Hispanic-owned firms that have potential for rapid growth, significant revenue generation and job-creation.
Since its launch in 2013, the fund has invested in 14 businesses in the Cincinnati region. Eight additional loans, for an additional $1.2 million, were referred to conventional funding sources in the region further extending the fund’s impact.
Redus
“The L. Ross Love GrowthBridge Fund has been true to its original purpose of stimulating economic development and providing critical access to capital for emerging minority-owned businesses,” added Darrin Redus, Cincinnati Chamber vice president and leader of the Accelerator. “The Fund has served as an economic catalyst in creating both direct and indirect investment opportunities for minority entrepreneurs who often face unique barriers in securing capital from traditional sources.”
The Fund is named in honor of the late Luther Ross Love, Jr., a former Procter & Gamble executive and founder of Blue Chip Broadcasting, who pioneered numerous minority business initiatives over the course of his decorated career.
“I know that Ross would be very pleased with the full deployment of the Fund and the leadership that the Minority Business Accelerator has taken to create the success that we have seen,” said Steve Love, brother of the late L. Ross Love, Jr. “The key realization that the GrowthBridge Fund has assisted minority firms to grow their revenues, expand their businesses, and develop new markets was part of Ross’ vision for minority businesses in the Region.”
The goal of the Cincinnati USA Regional Chamber is to grow the vibrancy and economic prosperity of the Cincinnati region. It serves as a voice for the interests of its 4,000 member businesses and their more than 300,000 employees. The Chamber is committed to expanding the region’s talent base by attracting new residents and finding new ways to connect employers to skilled workers. For more information, click here.
Cincinnati USA Regional Chamber
