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Special To CDVCA Ventures: Native American Capital, LP Announces Board, Initial Capital Commitment
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WASHINGTON, D.C. (April 9, 2004) -- Native American Capital (NAC), LP, a new social venture capital fund, has announced the formation of a National Advisory Board comprising six national leaders in American Indian economic development. NAC, LP has also made its first commitment of capital to The Pathfinder Fund, LLC, a Northwest regional American Indian venture fund formed by Patrick Borunda, managing principal, The Navigator Group.
"We are pleased that such a distinguished group of leaders, with expertise in both Native American issues and in wealth creation, has agreed to guide our efforts to invest in new and developing high growth businesses in Native American and Alaska Native communities," says Joseph L. Falkson, senior managing director, NAC, LP. Members include Ron Andrade, executive director of the Los Angeles City/County American Indian Commission; Patrick Borunda, managing principal, The Navigator Group, and of Tarahumara-Mescalero descent; Linda Capps, vice chair of Citizen Potawatomi Nation of Oklahoma and director of the tribe's economic development program; Fredric C. Cooper, president, Community Development Concepts Advisory Services and former deputy director for policy and programs with the U.S. Department of the Treasury's Community Development Financial Institutions Fund; John Johnston, a leading American Indian investment banker; and Riccard Ohrstrom, Jr., The Ohrstrom Foundation.
Borunda calls the NAC, LP's commitment of capital to The Pathfinder Fund, LLC, an important "first step to ensure that every possible opportunity for equity investing in Indian Country is captured." The commitment, he adds, will play a key role in "engaging mainstream, capital markets in realizing the contributions of the Native American community to the global economy."
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