Tuesday, November 17, 2015
Atlantic Philanthropies, Ford Foundation, JPMorgan Chase Foundation, MetLife, Bank of America Partner to Provide $30M Social Impact Loan Fund
Vital Healthcare Capital (V-Cap), a social impact lender, today announced a new $30 million fund to support better integrated care for at-risk people such as frail seniors, people with disabilities, at-risk youth, and individuals with behavioral health needs. A diverse group of leading impact investors -- Atlantic Philanthropies, the Ford Foundation, JPMorgan Chase Foundation, MetLife, Dignity Health, and Bank of America -- have banded together to make this new source of capital available during a period of fast-moving change in how health care is delivered and paid for.
“V-Cap is a financial partner for healthcare providers that are building better care for the most vulnerable, and better jobs for the frontline healthcare workforce,” said Steven Weingarten, CEO of V-Cap. “Our system of care has all too often been fragmented, expensive, and dehumanizing – especially for people with complex needs. We provide flexible financing to creative provider organizations, enabling them to innovate, grow, and develop high-performing health care.” . . .