Northeast Capital Fund II, LLC

Northeast capital Fund is a venture capital fund with a core mission to invest capital in urban communities. The fund’s concentration is on mortgage lending, real estate development, construction projects, and qualified early-stage growth companies within urban communities. The aim of the company is to invest wisely, make a profit and share those profits with its investors.

Bookmarks

Progress: 0 %

Funding Raised

$0.00

Funding Goal

$10,000-$5,000,000

Days Remaining

18886 Days

Northeast Capital Fund II, LLC

Northeast capital Fund is a venture capital fund with a core mission to invest capital in urban communities. The fund’s concentration is on mortgage lending, real estate development, construction projects, and qualified early-stage growth companies within urban communities. The aim of the company is to invest wisely, make a profit and share those profits with its investors.

Progress: 0 %

Funding Raised

$0.00

Funding Goal

$10,000-$5,000,000

Days Remaining

18886 Days

Business Description

Serving America’s Urban Communities

Northeast Capital Fund II, LLC is a venture capital firm with a focus on urban America. At the core of its business model the company provides investment advisory services for each investment fund it partakes in to ensure the growth of the fund and to advance prosperity in the urban communities of America. The company is exempt from registration under the Investment Company Act of 1940 and their securities are not registered under the Securities Act of 1933, as amended.

The company raises capital from investors in exchange for securities. The monies raised are targeted for investments in urban communities through mortgages, real estate acquisition, construction projects, and qualified early-stage growth companies. The aim of the company is to invest wisely, make a profit and share those profits with its investors.

The company is governed by a strict set of criteria and investment guidelines in accordance with the U.S. Securities and Exchange Commission. Investment advice is provided by Northeast Capital Fund and is subject to the discretion and control of the Board of Directors. The investment parameters are established and outlined in the governing agreements or offering documents of each applicable fund initiated.

Problem

Problem 1: Homeownership – Access to Credit

The wealth gap is growing. Homeownership is the single greatest asset for many individuals and families today. Access to homebuying capital is a key front-line issue. To ensure that homeownership remains in reach, we must guarantee pathways exist for all qualified homebuyers. Unfortunately, today there is still a large mortgage-ready population that remains underserved by credit. These underserved communities represent both the future of this country and a major business opportunity.

Problem 2: Building Back Better – Racial Inequality

Citigroup Investment Bank and Financial Services reported that an estimates $16 trillion is in lost GDP due to racial inequality in the United States. “Racial inequality has always had an outsized cost, one that was thought to be paid only by underrepresented groups,” said Raymond J. McGuire, Vice Chairman of Citigroup and Chairman of Banking, Capital Markets and Advisory at Citi. “What this report underscores is that this tariff is levied on us all, and particularly in the U.S., that cost has a real and tangible impact on our country’s economic output. Now, more than ever, we have a responsibility and an opportunity to confront this longstanding societal ill that has plagued Black and brown people in this country for centuries, tally up the economic loss and as a society, commit to bring greater equity and prosperity to all.”

Solution

Solution 1: Homeownership – Northeast Capital Fund

It is clear that underserved communities represent a missed opportunity for lenders and investors. It is also apparent that ready solutions are in reach. Lenders can tap into the potential through existing products, incentives, fees, and partnerships. Tapping this potential will not only increase volume and revenue for lenders it will also benefit bank Community Reinvestment Act goals and Government Sponsored Enterprises (GSEs) in their Duty to Serve (DTS) rules. Most importantly, it will unlock credit access for our underserved communities allowing them to achieve homeownership and build wealth.

Solution 2: Building Back Better – Build a Bridge to the Future

We agree with Citigroup, Black and brown lives do matter, and it is time for us to tally up the economic loss and as a society, commit to bringing greater equity and prosperity to all. We at Northeast Capital Fund see ourselves as a solution provider and the urban communities as the catalyst for change. We are currently working on a crypto token (A$$ETcoinTM) to be released into the urban marketplace. The cryptocurrency boom is here to stay. For the next generation of digital currency to succeed, it must be adaptable to urban America, serving as a bridge to the future, and pathway to generational wealth for people of color.

The Future of Cryptocurrency

We are currently working on a cryptocurrency token to be released into the urban marketplace. For this next generation of digital currency to succeed, it must be adaptable to Urban America, serving as a bridge to the future, and a pathway to generational wealth. By using our stablecoin token crowd-sales to fund lending operations, we will offer underserved communities new opportunities for home ownership.

Business Model

As compensation for the investment advisory services rendered to the Northeast Capital Funds, the Company may be entitled to receive a management fee in an amount and payable under such terms as those set out in the governing agreements of the applicable Northeast Fund and the applicable IAA. The Management Fee, if any, will be debited from the capital accounts of each investor of the applicable Northeast Capital Fund. Even if the Company is entitled to a Management Fee, it may, in its sole discretion reduce or waive all or a portion of the Management Fee for certain investors in the Northeast Capital Fund.

The Company will also be entitled to receive 10% of the performance-based fee or incentive allocation paid or allocated to the General Partner of each Northeast Capital Fund it advises pursuant to the terms of the Fund Agreements and the IAA. The Incentive Fee may vary for each Northeast Capital Fund. The Incentive Fee, if any, will be debited or allocated from the capital accounts of each investor of the applicable Northeast Capital Fund. Even if the Company is entitled to an Incentive Fee, the General Partner may reduce or waive all or a portion of its performance- based fee or allocation for certain investors, which will reduce the Incentive Fee paid to the Company.

Traction & Customers

The Company does not have customers in the traditional sense. Its clients are the Northeast Capital Funds, and its services for the Northeast Capital Funds include providing support to the Northeast Capital Fund Portfolio Companies.

Investors

The company has no previous investor history. All funding up until this point has been generated internally by the founders.

Terms

This is an offering of Class CF limited liability interests, under registration exemption 4(a)(6). This offering must raise a minimum of $10,000 by August 15th, 2021 at 11:59pm ET. If this offering doesn’t reach its target, then your money will be refunded. Northeast Capital II may issue additional securities to raise up to $5 million, the offering’s maximum.
Northeast Capital Fund III, LLC (“Northeast Capital”, the “Company,” “we,” “us,” or “our”), is offering a minimum amount of $10,000 (the “Target Offering Amount”) and up to a maximum amount of $5,000,000 (the “Maximum Offering Amount”) of Class CF limited liability company interests (the “Securities”) on a best-efforts basis as described in this Form C (this “Offering”). We must raise an amount equal to or greater than the Target Offering Amount by August 19, 2021 (the “Offering Deadline”). Unless we raise at least the Target Offering Amount by the Offering Deadline, no Securities will be sold in this Offering, all investment commitments will be cancelled, and all committed funds will be returned.

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment.

In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.

These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.

Neither PicMii Crowdfunding nor any of its directors, officers, employees, representatives, affiliates, or agents shall have any liability whatsoever arising from any error or incompleteness of fact or opinion in, or lack of care in the preparation or publication of, the materials and communication herein or the terms or valuation of any securities offering.

The information contained herein includes forward-looking statements. These statements relate to future events or to future financial performance, and involve known and unknown risks, uncertainties, and other factors, that may cause actual results to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the company’s control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. Any forward-looking statement reflects the current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. No obligation exists to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Security Type:

Equity Security

Price Per Share

$1

Shares For Sale

5,000,000

Post Money Valuation:

Regulatory Exemption:

Regulation Crowdfunding – Section 4(a)(6)

Deadline:

September 8, 2021

Minimum Investment Amount:

$0

Target Offering Range:

$10,000-$5,000,000

*If the sum of the investment commitments does not equal or exceed the minimum offering amount at the offering deadline, no securities will be sold and investment commitments will be cancelled returned to investors.

Market Projection

The lack of origination in underserved communities is a missed opportunity for lenders. Homeownership is still affordable for far more people than have been given the opportunity to achieve it. A 2017 data set compiled by Freddie Mac, ”Future Borrowers: Challenges and Opportunities” demonstrates that there were over 36 million people across the country who were credit-ready and have not yet purchased a home. Another study released by the Urban Institute in 2016 showed that conservatively, over 5.2 million qualified people did not access credit from 2009-2014. Little has changed in the lending and the business model in the past 5 years. We extrapolate that number to estimate that over 10 million mortgage ready homebuyers are going underserved in 2019. By successfully lending in underserved communities, lenders stand to conservatively increase their loan volume by at least $1.5 Trillion.

The Citi GPS Report identifies the underlying causes of the racial and economic gaps exacerbated by the COVID-19 pandemic and discusses the value of closing gaps. Report authors prognosticate that if racial inequity gaps were closed today, the equivalent add to the U.S. economy over the next five years could be $5 trillion of additional GDP, or an average add of 0.35 percentage points to U.S. GDP growth per year and 0.09 percentage points to global GDP growth per year.

Competition

The Company’s competitors include other firms that focus on investing in mortgages, real estate and in early-stage companies, particularly those who invest in underrepresented people. It may also compete with financial institutions, large publicly traded companies and other venture capital firms in providing financing to business that the Company will attempt to have a Northeast Capital Fund finance. Many of the Company’s competitors have greater resources than those available to the Company.

  • Last active: 2 months ago
  • 19 members
  • 0 posts
Northeast Capital Fund II, LLC
  • Group
  • Braden Kline
  • Serving America's Urban Communities

    Northeast Capital Fund II, LLC is a venture capital firm with a focus on urban America. At the core of its business model the company provides investment advisory services for each investment fund it partakes in to ensure the growth of the fund and to advance prosperity in the urban communities of America. The company is exempt from registration under the Investment Company Act of 1940 and their securities are not registered under the Securities Act of 1933, as amended. The company raises capital from investors in exchange for securities. The monies raised are targeted for investments in urban communities through mortgages, real estate acquisition, construction projects, and qualified early-stage growth companies. The aim of the company is to invest wisely, make a profit and share those profits with its investors. The company is governed by a strict set of criteria and investment guidelines in accordance with the U.S. Securities and Exchange Commission. Investment advice is provided by Northeast Capital Fund and is subject to the discretion and control of the Board of Directors. The investment parameters are established and outlined in the governing agreements or offering documents of each applicable fund initiated.
Hi, what is the nature of the type of income that unit holders will be allocated on Schedule K-1 - interest income from mortgages, carried (See more) interest, rental income, ordinary business income?
Please join group to like or comment on this post.

Rev. Duane Quamina
Senior Manager, President, and CEO
BackgroundResponsibilities include fundraising and firm leadership, managing deal flow, sourcing new deals, supporting portfolio companies, investor relationships, as well as brand development and awareness efforts. Associate Degree, Business Management 4 Years Military Service

Burena “Bree” Morris
Senior Manager, COO
BackgroundResponsibilities include managing operations, implementing, and evaluating operation processes and procedures in accordance with company standards. Ensuring operational processes stay within budget and time lines, assisting CEO in developing strategies and implementation plans to improve operations, supporting portfolio companies with platform efforts, and general firm operations. Bachelor of Arts in Business Administration and Bachelor of Science in Social Entrepreneurship; she is currently pursuing her MBA with a concentration in Entrepreneurship.

Allen Redic
Senior Manager, Executive VP Of Construction and Evaluation
BackgroundAllen’s responsibilities include developing and managing the residential and commercial real estate division, supporting real estate related portfolio companies, insuring timely completion of all projects, overseeing quality control of all construction related projects. Bachelor of Science in Business Administration, and he also carries an MBA specializing in Human Resource Management.

Wayne King
Senior manager, Executive VP of Real Estate
BackgroundResponsibilities include conducting due diligence on portfolio companies, providing support communications, management and internal operations controls, including helping with project plan reviews, project team coordination, and oversight of outsourced services. Attended Macalester College and is presently a member of the Utility Resources and Infrastructure Group in Philadelphia, PA.

Rhonda Coleman, Esq.
Manager, Board Members
BackgroundResponsibilities include contract review and deal negotiations with portfolio companies. Legal review of documents and guidance on legal matter. Degree in English from Christian Brothers University, Master of Arts from the University of Memphis, Juris Doctor (JD) from Loyola University of Chicago, studied at the University of Beijing’s School of Business and Economics and at the University of Granada in Spain.

Gregory “Bo” Kimble
Manager, Board Member
BackgroundResponsibilities include government and public relations. Communicate critical information effectively to the public. Write press releases and prepare information for distribution by media outlets. Draft speeches and arrange interviews. Respond to requests for information from the public and media outlets. Degree in Communications from Loyola Marymount University, Los Angeles, CA

Legal Company Name

Northeast Capital Fund II, LLC

Location

1650 Market Street
3600
Philadelphia, Pennsylvania 19103

Number of Employees

5

Incorporation Type

LLC

State of Incorporation

Pennsylvania

Date Founded

April 26, 2019

Bookmarks

Educational Material

General
September 15, 2021

Diversifying Your Investment Portfolio

Why Diversifying your Investment Portfolio is Never a Bad Idea Investing in not only one company but multiple companies in various industries is the key to obtaining a successful startup…
General
September 7, 2021

Where Can I Find Investors?

What is an Investor? First, let’s look at what an investor is and how they help your startup grow. Historically, an investor was seen as someone with a relatively large…
Regulation
March 15, 2021

Make Way Venture Capitalists – SEC Updates Regulation Crowdfunding

Some Background It is no secret that venture capitalists dominate the startup space. Most startups move forward at the whim of venture capitalists just to survive. And just as you…