U.S. Small Business Administration Announces Small Business Investment Companies of the Year
Companies and their managers to be formally recognized during National Small Business Week Awards Ceremony
Today, Administrator Isabella Casillas Guzman, head of the U.S. Small Business Administration (SBA) and voice in President Biden’s Cabinet for America’s 33 million small businesses, announced Stonehenge Community Impact Fund, L.P. of Columbus, Ohio, and Balance Point Capital Partners, L.L.C. of Westport, CT have been named the 2023 Small Business Investment Companies (SBICs) of the Year as part of National Small Business Week.The two funds, with other national winners and finalists for the National Small Business Person of the Year, will be recognized on Sunday, April 30, and Monday, May 1, during the National Small Business Week awards ceremony in Washington, D.C.
Name of Fund: Stonehenge Community Impact Fund, L.P.
Fund Manager: L’Quentus Thomas, Senior Managing Director
Location: Columbus, OH
Stonehenge Impact Fund’s objective is to be a provider of senior debt and strategic guidance to lower middle market companies that are minority, women, or veteran-owned small businesses and/or located in underinvested census tracts nationwide, including areas with low incomes or high poverty rates, rural communities, and areas targeted for investment by State and Federal programs.
Stonehenge Impact Fund targets its investing activities in companies across a wide range of industries, including manufacturing and distribution, business services, technology, energy services, healthcare and life sciences, and solar energy. Target investments range in size from $5-15 million and in companies typically generating at least $2 million of annual cash flow.
To date, 100% of the fund’s investments have been into small businesses in underserved communities, with 54% of its capital deployed into minority-owned or controlled businesses sustaining 1067 jobs and projecting the creation of 263 new jobs.
2023 SBIC of the Year – Established Manger
Name of Fund: Balance Point Capital Partners, L.L.C.
Fund Manager: Seth Alvord, Managing Partner
Location: Westport, CT
Balance Point’s objective is to be a reliable partner for creative and flexible capital solutions, sourcing both debt and equity capital for small business concerns in the U.S. lower middle market. Since its 2007 inception, Balance Point has pursued its investment strategy with four SBICs and two non-SBICs, seeking a portfolio investment mix focusing on expansion, later stage, and the buyout of small businesses that exhibit strong value propositions and experienced management teams.
Balance Point targets its investing activities across a variety of industries, including business services, consumer, food and beverage, healthcare, media and information services, and tech-enabled services. Targeted debt investments range from $15-150M, and equity investments from $15-75M.
Balance Point’s platform of SBICs and nearly $1.7B in total assets under management include portfolio companies that are 44% smaller enterprises, 33% led by women, minority, or veteran CEOs, CFOs or COOs, and created/sustained 15,144 jobs.
The SBIC of the Year award is administered by the SBA’s Office of Investment and Innovation.
National Small Business Week will be held from April 30-May 6, 2023. For more information about NSBW, please visit www.sba.gov/nsbw.
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