Mayor Bowser Launches $26 Million Fund to Drive New Venture Capital Investments to DC-Based Start-Ups
Washington, DC – December 16, 2024 – Mayor Muriel Bowser today announced the launch of a $26 million fund to drive new venture capital investments to DC-based start-ups. The fund, called the DC Venture Capital Fund, will be managed by the District of Columbia Housing Finance Agency (DCHFA).
The DC Venture Capital Fund is a key component of Mayor Bowser’s plan to make the District a hub for innovation and entrepreneurship. The fund will provide early-stage funding to promising DC-based start-ups, helping them to grow and create jobs.
“We are committed to making the District a place where entrepreneurs can thrive,” said Mayor Bowser. “This fund will provide the capital and support that our start-ups need to succeed.”
The DC Venture Capital Fund will invest in a wide range of start-ups, including those in the technology, healthcare, and clean energy sectors. The fund will also focus on investing in start-ups led by women and minorities.
“This fund will help to level the playing field for DC-based start-ups,” said DCHFA Executive Director Christopher Donald. “We are excited to partner with Mayor Bowser on this initiative and to help make the District a more vibrant and prosperous city.”
The DC Venture Capital Fund is part of Mayor Bowser’s broader effort to create a more equitable and inclusive economy. The Mayor has also launched a number of other initiatives to support small businesses and entrepreneurs, including the Small Business Relief Fund and the DC Entrepreneurship Fund.
“This fund is a testament to Mayor Bowser’s commitment to making the District a more equitable and inclusive city,” said Councilmember Robert White Jr., Chair of the Committee on Economic Development. “We are confident that this fund will help to create jobs and opportunities for all District residents.”
The DC Venture Capital Fund is now accepting applications from start-ups. For more information, please visit the DCHFA website.
About the District of Columbia Housing Finance Agency
The District of Columbia Housing Finance Agency (DCHFA) is an independent public corporation created in 1979 by the District of Columbia Housing Finance Agency Act. DCHFA’s mission is to provide access to affordable housing for District residents through the issuance of tax-exempt bonds and other financial products.
DCHFA has a long history of supporting affordable housing in the District. Since its inception, DCHFA has issued over $12 billion in bonds and other financial products, which have helped to finance the development of over 60,000 affordable housing units.
DCHFA is committed to making the District a more equitable and inclusive city. DCHFA’s programs and initiatives are designed to help low- and moderate-income residents gain access to affordable housing, build wealth, and achieve economic security.
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