PRZOOM - /newswire/ -
New York, NY, United States, 2012/05/22 - Pioneering program launched to address the gap between venture capital and funding for women and diverse entrepreneurs - AUAequity.com.
AUA Private Equity Partners, LLC (“AUA Equity”) is pleased to announce that Managing Partner Andy Unanue has been appointed by the National Association of Investment Companies to serve on the Marathon Foundation’s Venture Capital Access Program Selection Committee. The Venture Capital Access Program (“VCAP©”) is a collaborative venture that provides women and diverse entrepreneurs nationwide with access to venture capital through accredited investors within the Harvard Business School Alumni Angels of Greater New York Network. VCAP© is operated by NAIC’s Marathon Foundation, a business development network dedicated to the professional growth, access to capital and deal flow for diverse entrepreneurs.
The first program of its kind, VCAP© bridges the gap between venture capitalists and angel investor networks and women and diverse entrepreneurs, many of whom have not traditionally had access to these sources of capital. Ed Dandridge, President and Chief Executive Officer of NAIC said,“We are pleased to partner with the Harvard Business School Alumni Angels of Greater New York on VCAP© which will provide women and diverse entrepreneurs with access to capital essential to innovation and job creation. By appointing successful businessmen and entrepreneurs such as Andy Unanue to serve on Marathon’s VCAP© selection committee, we are able to leverage his industry knowledge, entrepreneurial expertise and track record of working with and creating opportunities for multi-cultural entrepreneurs.”
According to the U.S. Department of Commerce & Minority Business Development Agency, between 2002 and 2007, diverse-owned firms outpaced the growth of non-diverse firms in gross receipts and employment. During the same period, paid employment of diverse businesses grew by 24% compared to a decrease in employment of 1.1% for non-diverse firms.
Andy Unanue, Managing Partner of AUA Equity, added “I am honored to have been asked to by the NAIC to join its Marathon Foundation VCAP© selection committee. Having spent my entire career building a multi-cultural and diverse company, I am pleased to be able to work with diverse entrepreneurs to share my experiences and vision for success on this very important initiative.”
AUA Private Equity Partners, LLC is a New York-based, operationally-focused, lower middle-market private equity firm. The firm makes equity investments in companies in the consumer, media and business services sectors with a particular focus on Hispanic-oriented companies and family-owned businesses located in the United States. AUA Equity will leverage its experience investing in Hispanic-oriented companies and its proven successes in developing and penetrating the U.S. Hispanic market. The firm is led by Andy Unanue, former COO and current shareholder of Goya Foods, Inc., the largest and most successful Hispanic-owned food company in the United States. Unanue is complemented by a team of investment professionals with significant institutional private equity experience. AUA Equity makes equity investments of $10 to $30 million in companies that generate $3 to $15 million in EBITDA.
The National Association of Investment Companies is the trade association representing private equity firms whose investment strategies focus on the emerging domestic and global mid-market opportunities. NAIC firms generate sig¬nificant returns for institutional investors and shareholders by investing in and growing privately held businesses. NAIC firms are catalysts for job creation, economic growth and the talent pipeline of new fund managers essential to global competitiveness. NAIC also operates the Marathon Foundation, a business development network dedicated to supporting diverse entrepreneurs.
For more information on AUA Equity, visit auaequity.com/.
For more information on the NAIC, visit naicpe.com/.
For more information about VCAP, visit marathonfdn.org/.
Steven Flyer, P: 212-231-8680