NEW YORK--(BUSINESS WIRE)--On Tuesday, November 14th Star Mountain Capital, the Milken Institute and City of Baltimore convened small businesses, small business investment company (SBIC) fund managers and other investors in small and medium-sized private businesses to discuss opportunities and challenges in bringing different forms of capital to the City of Baltimore and to the underserved market of smaller businesses in general.
Attendees heard from small business executives who are actively involved in the Baltimore community as well as managers of select SBIC funds on ways to bridge the capital access divide to support Baltimore’s small business community. Local members of the small business community engaged in insightful discussions on developing best practices across various technical assistance categories such as further professionalizing their businesses by developing a Board of Directors and growing their businesses through acquisitions.
“Prosperity in Baltimore depends on how well we support small businesses and their growth as job creators. Small businesses are the driving force of economic development in Baltimore, so it is incumbent on all of us to be engaged as much as possible to retain and grow an inclusive local economy,” said Baltimore City Mayor and former Maryland State Senator, Catherine E. Pugh.
”Investment firms such as Star Mountain have become increasingly aware of the many high-quality established smaller businesses in communities that have historically been underrepresented in institutional investors’ portfolios,” said Brett Hickey, Star Mountain’s Founder & CEO. “Star Mountain recognizes the potential to address some of our country’s most pressing social and environmental challenges while maintaining top-line returns through investing in high quality, growing small businesses in underserved communities.”
Star Mountain specializes in bringing proven, large market resources and expertise to these small businesses, which has been both highly productive for job creation and economic development, as well as creating compelling absolute and risk-adjusted returns, which has helped Star Mountain attract some of the world’s most sophisticated global high net worth and institutional investors. Star Mountain is dedicated to this large market of underserved businesses with its specialized business model built to address the challenges and opportunities of these businesses. As part of its commitment, Star Mountain has trademarked “Investing in the Growth Engine of America.” Star Mountain believes that helping these high quality driven employees and business owners is one of the most valuable things we can do for society.
“Although the SBIC community has been a powerful vehicle for driving capital toward small businesses, it has not been as active in the minority-owned small business space," said Aron Betru, managing director of the Milken Institute Center for Financial Markets. "Through purposeful discussions like the one held in Baltimore, we can begin to remove barriers and unlock vital resources that both benefit minority-owned small businesses and enable investors to access potentially exciting investment opportunities. We thank Mayor Pugh, the Mayor’s Office of Small, Minority and Women Business in Baltimore and co-hosts Star Mountain Capital for a productive session."
ABOUT STAR MOUNTAIN
Investing in the Growth Engine of America ® – Star Mountain Capital is a specialized asset management firm focused on investing in the large and underserved U.S. lower middle-market of companies with typically over $10 million of annual revenues and under $15 million of EBITDA. Star Mountain’s distinctive business includes a custom-built media and technology platform and brings proven, large market resources to smaller businesses as a value-added lender and investment partner.
Star Mountain also has the Star Mountain Charitable Foundation, a not-for-profit 501(c)3 focusing on improving lives through economic development, including job creation, health & wellness and cancer research. Notable missions include helping match veterans and women with high quality small and medium-sized business career opportunities across the country, including within Star Mountain’s portfolio which in aggregate represents over 200 companies.
Star Mountain’s was named one of 2017 Crain’s New York Business Best Places to Work.