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The Venture Codex

Colorado Impact Fund

1555 Blake St Ste 200, Denver, Colorado, 80202, United States

Overview

The Colorado Impact Fund is a private equity fund dedicated to supporting local companies that generate consistent investment returns in addition to positive community outcomes. Their investors include some of Colorado’s most respected executives, families, foundations and corporations, each of whom is committed to making a difference in the State of Colorado and beyond. Managed by an affiliate of Vestar Capital Partners, the Colorado Impact Fund provides growth capital to entrepreneurs who have developed compelling business models that drive meaningful financial returns and community impact. Their team is committed to helping portfolio companies reach their potential. Their investment strategy leverages their collective experiences, resources, and networks to help Colorado entrepreneurs create exceptional and lasting companies. Energy and passion are core to who they are and they seek to partner with entrepreneurs and company builders equally dedicated to accelerating their businesses.

Total investments
10
Lead investments
5
Investments · 12mo
0
Active investors
6

Sector focus

  • Venture Capital
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Investment portfolio

  • TalentBloom Healthcare

    Led · Seed · May 2021

    interviewIA is a hiring workflow management technology company that manages all aspects of the job interview workflow to enable equitable and efficient hiring. Its fully integrated cloud application brings interviewer support, HR transformation, structure, and data-driven interview outcomes into a single system. The platform uses deep learning Intelligence Amplification (IA) technology and behavioral science to reduce human errors and bias in the hiring process. It is designed to improve collaboration, candidate experience, and increase transparency and control of the hiring process. The company raised $2M in seed funding and intends to use the proceeds for strategic hires, product development, and growth initiatives. interviewIA is led by CEO Joe Thurman and is based in Denver, CO.

  • CirrusMD

    Participated · Series C · Mar 2021

    CirrusMD is a Denver, CO telemedicine company that lets patients reach a live, licensed physician through a text-based or web app and complete care encounters at their convenience. Its integrated care is delivered 24/7/365 by multi-specialty, board-certified doctors who treat a range of conditions from acute to chronic and specialty areas including behavioral health. The service is offered exclusively through employers and health plans and is available to nearly 10 million users across all 50 states. Led by CEO Andrew Altorfer, the company intends to use new capital to expand solution capabilities, enhance user and provider experiences, increase scalability, and drive innovation for employer and health plan customers. Financially, CirrusMD has raised a total of $46m to date, including the most recent Series C. CirrusMD offers a chat-first virtual care platform that lets health plan members access on-demand dialogue with board-certified physicians in seconds via web or mobile apps. The company partners with health plans to deliver virtual care experiences and recently secured a subcontract to provide care access and delivery to the veteran community through Iron Bow Technologies and the U.S. Department of Veterans Affairs. CirrusMD was founded in 2012 by CEO Andy Altorfer and CMO Blake McKinney, M.D., and is also led by President and COO Scott Johnson. The company plans to use the new funding for product innovation and to support current and future partners. Financially, CirrusMD raised $15M in a Series B, bringing total funding to date to $26M. CirrusMD offers a text-first telemedicine platform for large health systems, integrated delivery networks, and health plans, with a focus on value-based care models. The company enables patients to access local physicians through secure text and video chat. It reports that 1.3 million patients have access to the platform, representing 850% growth over the prior year, and says it provides telemedicine services to over one million covered lives. CirrusMD plans to use recent financing to expand sales and marketing, invest in customer support, and continue innovating its platform and data analytics. The company cites a broader telemedicine market tailwind, noting a report that the market could reach $67 billion by 2021. Founded in 2012 and based in Denver, CirrusMD aims to scale rapidly by delivering value to health systems and payers. CirrusMD operates a HIPAA-compliant telehealth platform that enables secure text messaging, image sharing and telehealth video visits via mobile devices and web browsers. The platform serves over 250,000 consumers, connecting them to a specialized panel of local doctors to reduce emergency room and urgent care visits. The company positions its product to align with value-based and shared-risk payment models rather than legacy fee-for-service telemedicine solutions. Founded in 2012 and based in Denver, Colorado, CirrusMD is actively seeking partnerships with health plans and health systems that are shifting to value-based models. The company raised $1.05M in funding to expand its development and sales teams. CEO Andrew Altorfer has emphasized the need to be included in conversations with health systems and insurers as the industry shifts and consolidation occurs.

  • Galvanize

    Participated · Series C · Jul 2018

    Galvanize provides a blended learning platform combining online education and in-person training to teach in-demand technology skills to consumers, startups and enterprise organizations. Led by CEO Al Rosabal, the company operates innovation hubs and campuses and serves markets including Austin, Boulder, Denver, New York, Phoenix, San Francisco, Seattle and online. Galvanize offers community, training and campus services aimed at producing skilled graduates and supporting entrepreneurs and startups. As part of its growth plans it is acquiring Hack Reactor to expand product offerings, campus locations and the pipeline of skilled graduates. The acquisition brings Los Angeles into Galvanize’s hub network and Hack Reactor programs will operate under the Hack Reactor @ Galvanize brand and move onto Galvanize campuses in San Francisco, New York and Austin. Galvanize is a Denver, CO-based learning community for technology that offers education skilling programs and entrepreneur-focused workspaces. It provides software development, data science and machine learning programs to address growing skills needs for developing tech talent. The company uses a proprietary, tech-enabled learn platform that offers a blended-learning environment (in-person and online) combining scalable program delivery with dynamic assessments for mastery tracking of technical competencies. In the past year Galvanize has worked with Fortune 500 companies including McKesson, Amazon, IBM and Allstate on technology workforce development and training programs. The company intends to use the newly raised funds to expand its consumer- and enterprise-focused technology education and training programs. Galvanize is led by President and Co-Founder Lawrence Mandes. Galvanize operates a tech learning community that teaches web development, data science, and data engineering while providing workspace and networking for students, startups and larger companies. The company runs multiple urban campuses nationwide (the release references six existing campuses and elsewhere cites nine campuses) and hosts over 200 networking events. Across its campuses, Galvanize reports strong placement metrics: Web Development Immersive graduates have a 91% job placement rate with a $77,000 average starting salary, and Data Science graduates a 92% placement rate with a $111,000 average starting salary. The firm is expanding to New York City and plans to renovate a 55,000-square-foot space to house workshops, coworking and immersive training programs. The expansion is scheduled to open in 2017 pending state approvals. Galvanize is described in the release as Colorado-based and positions its mission around workforce development and upward mobility in tech. Galvanize delivers immersive web development, data science and data engineering programs alongside community workspaces and corporate training. It offers immersive student programs, employer-focused reskilling workshops, and workspace memberships that connect learners with hiring partners such as Allstate, Amazon, Salesforce, IBM, Pivotal and Tesla. Graduates report over a 90% job placement rate in technology within six months and an average annual salary increase of more than $30,000. The company operates nine urban campuses (including Denver, Boulder, Ft. Collins, San Francisco, Seattle, Austin, Phoenix and a New York City presence) hosts over 200 networking events, and supports more than 700 member companies (up from ~150 two years earlier). The recent financing is earmarked to expand student access to Galvanize’s programs and to help employers re-skill existing employees. Founded in 2012, Galvanize seeks to bridge industry and education by curating employer-aligned curricula and embedding hiring partners into its community. Galvanize operates urban campuses combining coworking, education (gSchool) and community programming for entrepreneurs and digital innovators. Its core offering includes membership, workshops, mentor office hours and a 24-week full-time developer training program. The company partners with firms like Google and IBM to provide content and programming and hosts more than 150 startups and member companies. Galvanize plans to use the new funding to open additional U.S. campuses, expand gSchool with several new programs by the fall, and grow its San Francisco SoMa campus to 70,000 square feet including a 250-seat auditorium. The raise strengthens its ability to scale campus capacity, classroom space and event facilities across its locations.

  • Maria Empanada

    Led · Series A · Nov 2017

    Maria Empanada offers artisanal, hand-crafted and fresh-baked empanadas, tartas and Spanish tortillas across three locations in the Denver metro area. The company was founded in Denver in 2010 by Lorena Cantarovici, who started the business as a catering operation baked out of her family’s home and garage. Maria Empanada emphasizes artisanal preparation—each empanada is finished by hand—and has earned recognition including the U.S. Small Business Administration’s 2017 Colorado Small Business Person of the Year Award, Zagat coverage, a Top 50 Colorado Companies to Watch Award, and features on the Food Network. Financially, the company has secured up to $3.5 million in Series A funding from the Colorado Impact Fund. Management says the investment will be used to drive growth of new Maria Empanada locations and scale the craft-casual concept nationally. CIF highlighted its support for female and minority-led businesses and cited the company’s potential for high growth and profitability.

  • SecureSet

    Led · Series A · Jan 2017

    SecureSet Academy delivers accelerated, bootcamp-style cybersecurity training that teaches skills immediately applicable in working environments. Founded and led by Bret Fund, the company operates campuses in Denver and Colorado Springs. It is set to expand to Tampa later that year and intends to grow its training into additional U.S. markets. The company raised $4M in Series A funding to support that geographic expansion. The financing was led by the Colorado Impact Fund. No revenue or user metrics were disclosed in the article.

Team

  • Jim Kelley

    Founder and Managing Partner

    LinkedIn
  • Alice Havill

    Vice President

    LinkedIn
  • Grace Oliva

    Vice President

    LinkedIn
  • Nicolás Cordero

    Associate