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Community Development Venture Capital Alliance
Community Development Venture Capital Alliance — founded 1995, supports 70+ CDVC funds in low-income US geographies.
Community Development Venture Capital Alliance
Founded in 1995, the Community Development Venture Capital Alliance (CDVCA) emerged from a coalition of practitioners seeking to formalize venture capital as a tool for economic development in low-income and rural communities. Jean-Claude Bonneau serves as Executive Director, guiding a membership network that today spans roughly 70 community development venture capital funds. The alliance grew out of a need to standardize practices and attract institutional capital to an asset class often overlooked by mainstream finance. The CDVCA does not manage a pooled fund; it operates as a membership and capacity-building organization. Its network funds deploy venture capital and private equity into sectors including clean energy, agribusiness, manufacturing, and technology-based services — all with a statutory requirement that portfolio companies create good jobs in low-income areas. Terms typically range from $500,000 to $5 million per company. The organization certifies members under the federal Community Development Financial Institution (CDFI) rubric, which unlocks access to CDFI Fund resources and regulatory support. Geographically, the alliance covers all 50 U.S. states and Puerto Rico, with concentration in Appalachia, the Mississippi Delta, and Native American tribal lands (per CDVCA materials). Team size and AUM are not publicly disclosed; CDVCA does not raise external capital itself. The alliance convenes its members through an annual conference, the CDVC Summit, and provides technical assistance, industry research, and advocacy before federal agencies and Congress. No recent operational events beyond routine annual conferences are verifiable from public sources. The organization maintains a policy-focused posture, regularly issuing position papers on Opportunity Zone reform, the CDFI Fund's allocation, and New Markets Tax Credits. CDVCA's structural differentiator lies in its hybrid role as a trade association and certification body for an entire asset class — community development venture capital. No comparable entity in the United States sits at this intersection of venture practice, government regulation, and impact measurement. The alliance effectively sets the standards that its member funds must meet, blending peer governance with federal CDFI oversight in a way that is unique among venture-related organizations.
General information
Firm type
other
Year founded
1995
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Jean-Claude Bonneau
Executive Director
Sector focus
Frequently asked questions
Who runs investment decisions at the Community Development Venture Capital Alliance?
CDVCA does not manage a pooled fund or make direct investment decisions. Jean-Claude Bonneau serves as Executive Director, overseeing the alliance's operations, technical assistance, and advocacy. Investment decisions within individual CDVC funds are made independently by each fund's general partners.
How does CDVCA source proprietary deal flow?
The alliance does not source deals directly; its members — roughly 70 community development venture capital funds — each run their own origination pipelines. Members typically source investments through relationships with local banks, economic development agencies, community lenders, and government programs such as the CDFI Fund's Bond Guarantee Program. CDVCA provides the industry convenings and best-practice sharing that help members improve their sourcing.
Is CDVCA structured as a single family office or does it operate more like a venture firm?
Neither. CDVCA is a non-profit membership organization and trade association for the community development venture capital sector. It was founded in 1995 to standardize practices, provide training, and advocate for policy supporting venture capital investments in low-income communities. It does not raise capital from LPs or deploy its own balance sheet into companies.
What investment stages does CDVCA's network typically target?
The member funds in CDVCA's network primarily target early- to growth-stage companies, with typical individual investments ranging from $500,000 to $5 million. Some funds also participate in later-stage rounds alongside other impact investors or CDFIs. The focus is on companies that can generate meaningful employment in low-income rural or urban areas.
Which sectors does the CDVCA network explicitly avoid?
The alliance does not publish a sector exclusion list at the network level. However, member funds must adhere to community development requirements that preclude financing businesses with principal negative local effects, such as major layoffs or environmental degradation. Most funds avoid speculative real estate, gaming, and industries that do not produce living-wage jobs.
How is CDVCA related to the CDFI Fund and federal policy?
CDVCA's members are largely certified Community Development Financial Institutions (CDFIs), a designation from the U.S. Treasury's CDFI Fund. The alliance serves as the primary voice for the community development venture capital segment before Congress and federal agencies, advocating for appropriations to the CDFI Fund, Opportunity Zone reforms, and New Markets Tax Credit allocations. It does not administer government funds directly.
Does CDVCA maintain philanthropic structures or separate foundations?
CDVCA itself does not operate a separate philanthropic foundation. Some of its member funds may be structured as nonprofit entities with grant-making arms, but the alliance is a single 501(c)(3) non-profit organization. It receives support from private foundations, including the Rockefeller Foundation and the Ford Foundation, for specific programmatic work.
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