Today we’d like to introduce you to Kim Folsom. She shares her story with us below:
Kim Folsom, Founder, Chairperson and CEO, leads Founders First Capital Partner’s strategy, recruitment of key partners and executive talent to support building the leading growth capital platform for diverse founders led small businesses. Kim has been the founding CEO or key executive of VC-funded tech startups ShowUhow, and VP, GM of Drivecam and Seminar Source.
She has founded and ran six startups, exiting three, has raised +$30M in VC Funding and created 500 premium wage jobs. Kim has an MBA, from Pepperdine University, and BSIS, Economics minor degree from San Diego State University. “Through my entrepreneurial journey, I saw there were gaps in the capital markets that prevent access by employer-based, diverse founders led small business owners getting access to growth capital. But I also found on the journey that money alone was not sufficient. As mostly first generation business owners, we need more know-how and social capital connections.”
Finally, the typical equity based growth capital market was not fit to grow most businesses. Less than 5% of funded companies are led by women and people of color. I decided to launch Founders First to provide know-how, connections and direct access to capital to help grow premium wage job-creating firms in underserved communities.
We all face challenges, but looking back would you describe it as a relatively smooth road?
It’s been long and bumpy….I leverage my 20+ years of expertise and entrepreneurial experience as a diverse founder to help grow and fund diverse founder led businesses. It took me twice as long to close the similar funding provided by mainstream firms.
Thanks – so what else should our readers know about Founders First Capital Partners?
Founders First Capital Partners, Inc (Founders First) leverages two proven investment methodologies – revenue based financing fund and recurring revenue generating companies, to provide new opportunities for smart investors who want to address economic inequality by investing in underserved small business markets.
Founders First is building a comprehensive ecosystem through its proprietary platform to empower underrepresented founders to become leading premium wage job creators within their communities. We provide revenue-based funding and business acceleration support to revenue generating, service-based and light manufacturing small businesses located outside of major capital markets such as Silicon Valley and New York City.
We focus on supporting businesses led by women, ethnic minorities and military veterans, LGBTQ community and businesses located in low to moderate income areas. Our proprietary business accelerator programs, learning platform, and growth methodologies transition these underserved service-based businesses into $5M to $50M recurring revenue, tech-enabled companies while providing high-yield investments for fund limited partners (LPs) that perform like bonds but generate returns on par with equity investments.
How do you think about luck?
I am and have been constantly spending time working to advance our mission. I am a true believer that luck for me has been a combination of persistence and preparation for meeting opportunities.
Contact Info:
- Email: info@foundersfirstcdc.org
- Website: www.foundersfirstcapitalpartners.com and www.foundersfirstcdc.org
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