Angel investment fund partners with CommunityWorks.

Nonprofits and businesses across the region, including clients ofCommunity Works,Greenville Housing FundandHomes of Hope, have a new well for capital investment.

Greenville-based donor-advised fund platformAbundance Capitalreceived its 501(c)(3) tax exemption designation in December and launched earlier this year, according to a news release. The fund aims to channel millions in place-based charitable investment to support businesses, nonprofits and other projects where financial returns are reinvested.

"After two decades of helping individuals support the institutions and causes they care most about, I heard again and again from donors, whether giving $100 or $100 million, that they want to do more with their philanthropy," Mike Gatchell, CEO and co-founder of Abundance Capital, said in the news release. "They want to solve deep problems, generate more impact, and create lasting prosperity for their communities. Abundance Capital provides a new and fun way for people to make their giving regenerative, using tax-deductible contributions for impact investing as well as granting."

Gatchell and Margaret Gifford created the platform to help clients combine venture capital and charitable giving tools to build stronger and more sustainable communities, according to the release. Donations can be used as equity, grants or capital loans for underserved entrepreneurs and community development projects.

"As of today, our team has identified over $15 million of high impact investment opportunities that range from affordable housing funds and sustainable manufacturing to innovative minority-owned businesses focused on transitional co-housing," Margaret Gifford...

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