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Founded in 1999, Pacific Community Ventures (formerly known as Silicon Valley Community Ventures), develops and invests in businesses providing economic gains to low-income communities in California. PCV helps companies (in traditionally overlooked areas) gain access to capital, business advice, and critical business resources. Currently, PCV targets existing businesses throughout California, but has a particular focus on the Bay Area and Los Angeles, San Diego and the Central Valley. PCV manages two for-profit investment funds seeking double bottom line returns, meaning both financial return (measured in terms of IRR) and social return. PCV and its affiliates manage over $60 million in private equity funds. Currently, the firm is investing out of PCV III, a $40 million fund that closed in 2007. PCV invests $1 to $4 million with a primary industry focus on food products and distribution, manufacturing, consumer and business and services, and sustainable businesses such as alternative energy, health, and trade schools. The firm's companies have a staggering 44% job growth - surpassing national rates (1.7%) - and an average 20% revenue growth (vs 7% for comparable small businesses).
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