# Innovate Capital Growth Fund

Innovate Capital Growth Fund is a Private Equity based in Philadelphia, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Philadelphia, United States
- **Region:** North America
- **Address:** Philadelphia, PA, United States
- **Founded:** 2022
- **Assets under management:** Undisclosed
- **Website:** www.innovatecapitalgrowth.com
- **LinkedIn:** https://www.linkedin.com/company/innovatecapitalgrowthfund

## Regulatory record

- **Reports private funds:** No

## About

Innovate Capital Growth Fund is an SBIC fund uniquely focused on investing growth equity in diverse lower middle market businesses. It brings capital, operational expertise, and access to a strategic network, and partners with talented executives to build valuable companies in the lower middle market. Its mission is to provide capital and operational expertise to enable minority and women-owned businesses to grow.

## People

- Della Clark — Partner
- Blessy Thomas — Partner
- Bob Palmer — Partner

## Questions

### How does Innovate Capital Growth Fund structure its deals?

Innovate Capital employs a flexible transaction toolkit that includes minority growth investments, structured equity, majority recapitalizations, and control buyouts. The firm emphasizes founder-aligned structures — often using earn-outs, staged liquidity provisions, and retained equity carve-outs — to ensure management teams remain incentivized post-close. This flexibility is a direct response to founder reluctance around binary control sales.

### What geographies does Innovate Capital Growth Fund invest in?

The firm concentrates on the Mid-Atlantic, Northeast, and select Midwest markets, with a particular emphasis on companies within driving distance of its Philadelphia headquarters. This regional focus reflects a deliberate sourcing strategy — targeting dense industrial, healthcare, and business-services corridors where durable companies often lack institutional investor coverage. The firm does not actively pursue deal flow in coastal venture hubs.

## Related profiles

- [Innovate Calgary](https://altss.com/profile/innovate-calgary)
- [Innovatec Venture](https://altss.com/profile/innovatec-venture)

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Last updated: 2026-08-11T15:07:05.535Z

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