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Wertman, Adlai;Rostoker, Benjamin
Financial service sector;Nonprofits;Real estate industry;Social advocacy organizations
SoLa Impact upended the traditional affordable housing industry by delivering high-quality housing to low-income tenants and double-digit financial returns to investors. Founded by Martin Muoto, a former venture capitalist and Nigerian immigrant, SoLa developed its model by purchasing properties in South Los Angeles. Leveraging its success, in 2020, SoLa opened its fourth and, most ambitious, real estate fund: the $1 billion Black Impact Fund. To persuade institutional investors to join this new fund, Muoto must find a balance between SoLa''s financial objectives and its social goals.
Diversity and inclusion;Entrepreneurial financing;Entrepreneurs and founders;Entrepreneurship;Fundraising;Impact investing;Marginalized groups;Poverty;Race;Social entrepreneurship
Case Teaching Note, (SCG892), 7p, by Adlai Wertman, Benjamin Rostoker