PW&Co is pleased to announce that it is now acting as the Alabama Manager for the Whitecap Alabama Growth Funds I and II. In this role, PW&Co will provide two members of Whitecap’s five member Investment Committee and will be responsible for sourcing new CAPCO investments in the State of Alabama, as well as managing the current portfolio and new additions to the portfolio. The ability to invest capital in appropriate Alabama businesses adds to PW&Co’s portfolio of skills and services in investment banking and investment management.
The Alabama Certified Capital Company Program, commonly referred to as CAPCO, is designed to bring new investments, jobs, and opportunity to businesses and communities across the State. CAPCO financing serves as an alternative to traditional bank financing and in many cases can offer more flexible terms and lower interest rates than conventional funding sources.
To be eligible for CAPCO financing, a Company must meet the following criteria established by the Alabama Department of Commerce, which administers the CAPCO program:
- Headquartered in Alabama or will be relocated to Alabama
- Principal business operations in Alabama or will be relocated to Alabama
- Have no more than 100 full-time employees, and 80% of employees are in Alabama or 80% of payroll is paid to employees in Alabama
- Is engaged in manufacturing, processing, or assembling products, providing services, or conducting research and development
- Is NOT primarily engaged in retail sales, real estate development, lending or lobbying, or the practice of law, accountancy, or medicine.
We are generally looking to invest between $1 million and $3.3 million in each qualified company.
PW&Co, on behalf of Whitecap, is actively seeking opportunities to deploy capital as part of the CAPCO program. If you know of healthy companies that meet these criteria and are potentially interested in CAPCO financing, please refer them to Goodloe White at PW&Co.