West Potomac Capital announces Financials Impact Fund and a Deposit Placement Strategy focused on financial inclusion and economic opportunity
ARLINGTON, VA (July 26, 2023) — West Potomac Capital LLC (WPC) plans to launch a social impact private investment fund, WPC Financials Impact Fund I LP (Fund) in the second half of 2023. The Fund will be led by Trevor Montano, WPC Founder, Managing Member, and former Chief Investment Officer at the U.S. Department of the Treasury who has a decade of experience investing in, and managing capital allocated to, mission-driven financial institutions.
The Fund targets a fundraise of $250 million and aims to invest directly in, and alongside:
• Minority Depository Institutions (MDIs) including U.S. Banks and Credit Unions
• Women-Owned Depository Institutions (WDIs)
• U.S. Department of the Treasury certified Community Development Financial Institutions (CDFIs) including U.S. Banks, Credit Unions and Loan Funds
• Low-Income Designated Credit Unions (LICUs)
WPC also has a deposit placement strategy to assist corporations, financial institutions, philanthropic organizations, and others in placing deposits with mission-driven financial institutions. WPC intends to provide credit underwriting and monitoring as well as impact reporting on such deposits utilizing proprietary credit underwriting models and an impact management and measurement framework internally developed specifically for U.S. based mission-driven financial institutions.
“We are extremely excited to bring these new and innovative impact investing products to market in support of mission-driven financial institutions across America,” said West Potomac Capital LLC founder Trevor Montano. “It has been wonderful to see the significant increase in commitments related to social equity over the past few years and we intend to work with great organizations such as the Economic Opportunity Coalition and signatories to the Office of the Comptroller of the Currency’s Project REACh: Removing Barriers to Financial Inclusion, and many others to help support and direct such commitments to highly impactful opportunities.”
O’Melveny & Myers LLP is serving as lead private fund counsel and Nelson Mullins Riley & Scarborough LLP is serving as financial institution regulatory counsel to the Fund.
Potential capital partners, depositors and mission-driven financial institutions interested in learning more, please email info@westpotomaccap.com.
About West Potomac Capital LLC
West Potomac Capital LLC is a minority-owned alternative asset management firm headquartered in the Washington, D.C. metro area. As of September 30, 2022, WPC had approximately $2.5 billion in regulatory assets under management focused on the financial services sector and mission-driven financial institutions. WPC was founded in 2020 by Trevor Montano, a former financial institutions investment banker and former Chief Investment Officer for the U.S. Department of the Treasury. More at www.westpotomaccap.com.
