# Impact America Fund

Impact America Fund is a Private Equity based in Irvine, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Irvine, United States
- **Region:** North America
- **Address:** Irvine, CA, United States
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** impactamericafund.com
- **LinkedIn:** https://www.linkedin.com/company/impact-america-fund

## Regulatory record

- **Reports private funds:** No

## About

Impact America Fund is a venture capital fund that invests ($250K-$2M) in early-stage entrepreneurs using technology to broaden the path to economic opportunity in America. We invest in companies whose social impact is inherent in their business model—where scaling the business fundamentally scales the impact. We back mission-driven founders whose lived experiences fortify their business prowess. And we advise startups on how to imbue impact into the design and development of the technologies that power their businesses. We’re building an ecosystem of entrepreneurs, funders, institutions, philanthropists, academics, technologists, and community organizers to grow and support our portfolio companies and compound our collective impact. We care about using market forces to equitably distribute wealth and democratize economic participation. To submit a pitch, visit us at: http://www.impactamericafund.com/first-contact/

## Sectors

- FinTech
- Digital Health
- Enterprise Software
- AI/ML
- ClimateTech
- Energy Transition & Renewables
- AgriTech & FoodTech
- Healthcare Services
- Education

## People

- Kesha Cash — Founder & Managing Partner

## Questions

### Who runs investment decisions at Impact America Fund?

Kesha Cash is the founder and sole managing partner with final authority over investment decisions. She previously worked as an associate at Jalia Ventures, a social-impact fund, and as a general partner at Kapor Capital before launching IAF. A small investment team supports sourcing and diligence, but deal selection and portfolio construction rest with Cash.

### How does Impact America Fund source its deal flow?

Cash relies on a network built over a decade in impact-investing circles, drawing referrals from other mission-aligned fund managers, philanthropic foundations that co-invest or sit on advisory boards, and organizations like the Kapor Center. The firm does not publicly disclose a proprietary sourcing platform; its advantage rests on deep community ties and a narrow mandate that makes IAF a go-to vehicle for underrepresented founder networks.

### Does IAF only invest in Black and Latinx founders?

Yes. The fund's stated mandate is to back early-stage technology companies led by Black and Latinx founders, with the additional filter that portfolio companies must serve low-to-moderate income communities or operate in large, traditionally excluded markets. This dual lens — founder identity and end-customer impact — defines every investment.

### Who backs Impact America Fund as limited partners?

Fund I was anchored by institutional impact allocators including the W.K. Kellogg Foundation, the California Endowment, and Bank of America. The LP base reflects a mix of philanthropic endowments, bank CRA-motivated capital, and some family offices, all aligned with the fund's thesis that market-rate returns can coexist with measurable community uplift.

### Does Impact America Fund have a second fund, and what is its status?

Fund I closed at approximately $12 million in 2018, making 22 investments. Cash has publicly discussed raising a Fund II to scale the strategy, but no subsequent final close has been announced as of the most recent public record. The firm's ability to raise a materially larger second vehicle remains a key test of LP appetite for diverse-manager strategies.

### How does Impact America Fund measure impact?

IAF does not publish a standardized impact framework, but its mandate operates on two observable axes: capital allocated to underrepresented founders as a percentage of total deployment, and the reach of portfolio products into underserved communities. Portfolio companies like CareAcademy provide workforce certifications to home-care aides — a largely minority, low-wage demographic — creating a direct line from investment to economic mobility.

## Related profiles

- [Impactable Investment Group](https://altss.com/profile/impactable-investment-group)
- [Impact Angel Fund](https://altss.com/profile/impact-angel-fund)

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Last updated: 2026-06-03T20:00:00.000Z

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