Capital Across America, based in Nashville, Tennessee, Women's Growth Capital Fund of Washington DC, and San Francisco-based Viridian Capital have been licensed by the SBA as SBICs. Unlike full-fledged venture capital firms, SBICs are not allowed by law to take a controlling interest in a small business through an equity investment. The three VC founders Capital Across America's Whitney Johns, Capital Fund's Patty Abramson as well as Viridian's Cordaro agree that the time is now right for women. We have to get a certain multiple on our money for our investors. Since most firms seeking venture capital are looking for larger investments, Viridian will network with other venture capitalists to bring in more investors.
Capital focuses on expanding companies.
If the deal is larger than that, we will bring in our partners such as First Union and Bank One. The firm will also consider male-owned firms. The majority of their investments will be in manufacturing, distribution, wholesale processes, service businesses, and retail chains based in Alabama, Georgia, Kentucky, North Carolina, Ohio, and Tennessee. The fund will not invest in real estate, high tech, biotech, or start-up companies. Capital Across America is aiming for returns of about 30 percent annually.