Opportunity Alabama, Inc.
Building Alabama's Localvesting Ecosystem (BuildAL) Initiative
Birmingham, AL
Capital Challenge
Federal Share: $300,000
Local Match: $300,000
Opportunity Zone: Yes
High-growth businesses in Alabama’s distressed communities have difficulty accessing capital and, in particular, accessing equity. Opportunity Alabama has identified three critical gaps that they intend to fill through their Building Alabama’s Localvesting Ecosystem (BuildAL) Initiative: (1) a credibly underwritten, statewide pipeline of investable low-income community businesses; (2) a comprehensive “Ala-vestor” identification and intake system; and (3) a series of in-house investment vehicles (including Opportunity Funds) created to make it as easy as possible for every identified investor to invest with impact in Alabama. Through their partnerships with nationally recognized fund managers like Blueprint Local and dozens of local deal sourcing and capital raising organizations across the state, the organization seeks to leverage this new ecosystem to raise $10 million for 20 or more high-growth Alabama businesses and create over 100 jobs in the process.