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GOVERNMENT OF THE DISTRICT OF COLUMBIA
OFFICE OF COMMUNICATIONS
EXECUTIVE OFFICE OF THE MAYOR
|FOR IMMEDIATE RELEASE:
WEDNESDAY, DECEMBER 11, 2002
|CONTACT: SHARON GANG
JANICE GHENENE (DBFI)
Mayor Announces New Venture Capital Firm to Spur Small
(Washington, DC) Mayor Anthony A. Williams announced today the
organization of a new venture capital fund designed to provide investment
dollars for early stage growth businesses in the District and the
mid-Atlantic region. The new fund, Capital City Ventures, L.P., begins
operation with an investment pool of $1.7 million. Early investors to the
venture fund include the National Capital Revitalization Corporation (NCRC),
which committed to $1 million, Southern Financial Bank with an investment
of $500,000 and BB&T with a $200,000 investment.
"New sources of equity funding for District businesses will ensure
the continued economic vitality of our city and the metropolitan
area," said Mayor Williams. "Capital City Ventures' decision to
locate here means that the District's good, solid investment opportunities
will now have an additional, attentive source of financing."
According to Capital City Ventures, L.P. organizers, the new fund will
fill the financing gap left vacant by other investment entities interested
only in capitalizing later-stage businesses.
"I am especially encouraged that Capital City Ventures will seek
out investment opportunities among locallybased women and minority
entrepreneurs," said S. Kathryn Allen, commissioner of the District's
Department of Banking and Financial Institutions (DBFI). "DBFI works
to ensure that District-based businesses have access to the full array of
financial services needed to ensure business growth and stability."
Corporate attorney and business turnaround expert, Lloyd Jordan and
long-time banking senior executive, Leon Wilson, represent the principals
of the Capital City Capital Group, LLC, the general partner and investment
manager for Capital City Ventures, L.P. "We believe the District and
the midAtlantic region represent fertile ground for the kind of investment
opportunity Capital City Ventures offers," said Jordan.
"Traditional venture capitalists usually reject small venture capital
deals largely due to the amount of time, technical assistance and business
growth strategies these kinds of investments require."
The new venture fund expects to raise an investment pool totaling $30
million and anticipates a first closing when $10 million is secured. Plans
also call for obtaining an SBA-issued Small Business Investment Company (SBIC)
Companies that become a part of the Capital City Ventures investment
portfolio can expect capital infusions that range in size from $200,000 to
$1 million. In some instances, decisions may be made to increase the total
invested in a single company.
"Business opportunities that fit our investment philosophy will be
characterized by strong management, a sound business plan and a potential
for long-term growth," said Wilson. "We are especially committed
to minority and women entrepreneurs."
For more information on Capital City Ventures, L.P., call 202-535-2498.
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Capital City Ventures, L.P ,1400 L Street, NW,
Suite 400, Washington, DC 20005
- Capital City Ventures, L.P. is a newly created DC limited
partnership with Capital City Capital Group, LLC as general partner
and limited partner investors.
- The general partner is responsible for the management, investment
decisions, and conduct of the new venture fund.
- Capital City Ventures, L.P. was established to provide equity
investments in companies with growth potential for businesses
generally located within the District of Columbia.
- The new venture fund will consider investments in businesses that
are characterized by strong management, a sound business plan, and
have the potential for long-term growth.
- Fund managers are committed to investing in small venture capital
deals often rejected by traditional venture capital companies largely
due to the amount of time, technical assistance, and business growth
strategies these types of investments require.
- Investment opportunities presented by historically disadvantaged
entrepreneurs will be encouraged. Fund managers bring a special
understanding of the needs of early stage businesses operated by these
- The venture fund looks to support Mayor Williams' goal of opening
new sources of capital for small businesses located in the District of
Columbia, as well as the greater metropolitan area.
- Companies that become part of the fund's investment portfolio can
expect capital infusions that range in size from $200,000 to
- Early venture fund investors include the National Capital
Revitalization Corporation (NCRC), which committed $1 million,
Southern Financial Bank with an investment of $500,000, and BB&T
bank with a $200,000 investment. It has received additional
commitments near $1 million. In addition, the fund, with a Federal
match, expects to raise an investment pool of $30 million.
- Capital City Capital Group, LLC, principals include Lloyd Jordan
corporate attorney and business turnaround expert, who serves as
president, and seasoned banking senior executive, Leon Wilson who
serves as the fund's CEO.
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Lloyd J. Jordan
Lloyd J. Jordan is an attorney with the Washington, DC-based law firm of
Holland & Knight LLP and brings more than 20 years of executive
management experience to Capital City Ventures. Highlights of an
impressive business and legal career include holding the position as an
executive for the 6th largest insurance company in America, and serving as
Chief Administrative Officer for the City of St. Louis where he managed
the municipal corporation. While there, Mr. Jordan authored the turnaround
management plan for the municipal corporation that laid the groundwork for
an unprecedented, threelevel credit rating increase within a three-year
timeframe. As a result, the corporation experienced a three-year cash
surplus. Mr. Jordan earlier served as Chief Executive Officer of the St.
Louis Economic Development Corporation, and President of the St. Louis
Municipal Financing Corporation.
Capital City Capital Group, LLC
Mr. Jordan has participated in the creation, negotiation, and
management of entities with a combined net worth in excess of $800
million. As a corporate attorney and turnaround management expert, Mr.
Jordan has successfully developed business strategies for numerous
multi-disciplined entities to solve their operational deficiencies. His
talents and astute business strategies have been recognized nationally. In
1993, Mr. Jordan created the financial plan that ultimately led to the
exit of Trans World Airlines (TWA) from its 1993 bankruptcy. As notable,
Mr. Jordan managed the City of St. Louis' acquisition of the Los Angeles
Rams Football team.
Mr. Jordan has been featured in Ebony Magazine and listed as one of the
"100 Most Influential African-Americans in America." He has
received numerous service awards, keys to the cities of Dallas, Memphis,
and Gary, along with being made an honorary citizen of Louisiana,
Kentucky, and Indiana.
Omega Psi Phi Fraternity, one of the largest fraternal organizations in
the nation with a membership totaling approximately 167,000 in 600
chapters worldwide, selected Mr. Jordan as its international president.
Additionally, he serves on the boards of the National Black Leadership
Roundtable and the National Voting Coalition, along with other
communitybased organizations. Mr. Jordan's earlier professional and civic
involvements included service as president of the Mound City Bar
Association, Vice President of the St. Louis chapter of the NAACP, and
President of the Washington University Black Alumni Council.
Mr. Jordan attended Washington University's School of Engineering in
St. Louis where he received a Bachelor of Science degree in computer
science and applied mathematics. He later earned a Juris Doctorate from
St. Louis University School of Law. As a Danforth Foundation Fellow, Mr.
Jordan attended the Kennedy School of Government at Harvard University
where he completed the School's program for senior executives.
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Leon E. Wilson
Chief Executive Officer
Capital City Capital Group, LLC
Leon E. Wilson brings more than 30 years of banking and
financial management to Capital City Ventures and currently holds the
position of Executive Vice President and Managing Director, Mid-Market
Institutional Asset Management at one of the nation's top 20 largest
Previously, Mr. Wilson held the position of Corporate Senior Vice
President/Managing Director of GMAC Residential, the holding company for
GMAC Mortgage, GMAC Global Relocation Services, GMAC Home Service, GMAC
Real Estate, GM Bank, Family First by GMAC and ditech.com. In that
capacity, Mr. Wilson along with the other seven Executive council members
was responsible for managing the operations of and strategic direction for
the financial services company.
Prior to GMAC Mr. Wilson served as Senior Vice
President and Regional Manager with Fleet's Not-For-Profit Division. Mr.
Wilson's experience in the financial world prepared him to spearhead GMAC
Mortgage's Emerging Markets initiative. Established in 1998, the division
led GMAC's entry in to the burgeoning Asian American, African American,
and Hispanic marketplace simultaneously positioning the company's
automotive and home financing products Within one year under Wilson's
direction, mortgage loans made to Emerging Markets customers increased
from 10 to 20 percent.
Wilson's Emerging Markets Division also housed GMAC
Mortgage's new Economic and Community Lending initiative. The $100 million
fund was established to help finance housing and economic development in
underserved and urban communities. In combination, Wilson constructed an
approach that addressed the complete home buying needs of Emerging Markets
Earlier, Wilson worked for the Bank of Boston where he
held increasingly more senior positions; leaving as National Director,
Risk Management & Compliance for The Private Bank. Beginning his
nine-year career there as Vice President and Division Head of the Consumer
Finance Division, he was then tapped to be Director, Massachusetts
Residential Mortgage Division, served as the Chairman of the First
Community Bank where he designed the bank's "Bank Within a Bank"
strategy and product development, and moved to Senior Vice
President/Director of BancBoston Mortgage Corporation. His earlier years
in banking began at Boston's Shawmut Bank as Senior Lender, Consumer
Banking with responsibility for credit card and consumer finance.
Mr. Wilson has served on numerous professional and community boards
including The Bell Foundation, Dimock Health Care, Fannie Mae's Regional
Advisory Board, Cambridge Colleges Board of Trustees, and Philadelphia
Safe and Sound, to name a few. Nationally recognized as an expert in his
field, Wilson is often called upon as a speaker on home ownership,
community development, and financial services.
Mr. Wilson completed advanced studies at Harvard
Business School and the University of Virginia's Graduate School of Retail
Bank Management. He holds an undergraduate degree from Boston University.