A new chapter in inclusive capital is underway in Dallas.
The Dallas-based nonprofit has introduced IV Capital, which it calls the state’s first integrated capital fund investing flexible debt and patient equity in women- and BIPOC-led enterprises.
The announcement came during a kickoff event hosted by JPMorgan Chase in downtown Dallas, just ahead of the 2025 Inclusive Capital Summit held in early October.
Guests connect during the kickoff of the 2025 Inclusive Capital Summit at JPMorgan Chase. [Image: Screenshot / The Shearer Group video]
Certified as a Community Development Financial Institution (CDFI) in July, IV Capital is one of the few minority-led CDFIs headquartered in Dallas. The fund will provide flexible financing to underestimated entrepreneurs across the state with a goal of building economic power and community wealth.
The CDFI milestone, CEO Ben Vann said, has been years in the making.
“This started way back in 2017, 2018,” Vann told attendees at the event. “We believe that breaking barriers isn’t just about access to capital—it’s about shifting power, rewriting narratives, and building an economy that works for everyone.”
Attendees listen as IV Capital, a new fund from nonprofit Impact Ventures, is announced. [Image: Screenshot / The Shearer Group video]
Impact Ventures, founded in 2017, is a 501(c)(3) nonprofit focused on removing social and economic barriers for communities of color through education, community, and capital.
The event also introduced the Underwriting Reimagined Project, a joint initiative with JPMorgan Chase, Beneficial State Foundation, UNT Dallas, and CoSpero Consulting. The effort convenes underwriters, lenders, and community leaders to challenge traditional credit models and reimagine how risk is assessed.
“We can’t wait for the next generation,” Vann said. “This is our time.”
Over the next two days, the Inclusive Capital Summit carried that momentum forward, bringing together entrepreneurs, investors, and civic leaders to explore how capital can serve as a tool for access, equity, and innovation. From early-stage investing to blended finance, inclusive leadership, and trust-based growth, speakers shared candid insights and calls to action.
Here’s what happened:
Inside the 2025 Inclusive Capital Summit
State of the capital ecosystem:
Where we’ve been and where we’re going
A morning panel discussion took a candid look at how venture capital remains concentrated in the hands of a few firms, leaving early-stage founders with limited access to funding.
Austin Clements, co-founder and managing partner at Slauson & Co, said ecosystems grow “by investing in companies and people at the earliest stages.” He added that a recent “flight to quality” among investors has made it even harder for new firms and ideas to gain traction.
Zach Ellis of South Loop Ventures challenged the idea of “backing the best,” asking, “But how do you know you’re backing the best if you haven’t looked at everyone?” He added, “You become diverse when you’re open to the best ideas.”
Panelists agreed that connecting founders to customers and networks is just as vital as connecting them to capital. Clements likened current practices to “fishing from one corner of the pond,” urging investors to widen their scope.
Scaling for entrepreneurs: from founder to CEO
The panel of entrepreneurs and business leaders focused on how founders can shift from hands-on operators to strategic leaders.
Marissa Allen of Cookie Society said investing early in production helped maintain consistency and meet rapid demand after being featured on Oprah’s Favorite Things.
Veronica Torres-Hazley shared how pivoting from brick-and-mortar to corporate wellness tripled her business, while Richard Thomas of Present House Hospitality Group advised leaders to “hire slow and fire fast,” focusing on culture and systems that scale.
Across the board, panelists agreed that long-term growth isn’t just about speed. It’s about structure, trust, and intentional leadership.
Honoring a ‘Trailblazer’ in business and community
A highlight of the midday program was the presentation of Impact Ventures’ highest honor—the Trailblazer Award—to Noe Hinojosa Jr., co-founder and CEO of Estrada Hinojosa & Co.
Hinojosa was recognized for more than 30 years of leadership in public finance and community development across North Texas. In the past three years alone, his firm has advised on more than 1,100 transactions totaling $114 billion, including landmark projects like Cowboys Stadium, DFW Airport expansion, and DART rail infrastructure, according to remarks made during the event.
Introducing him, Impact Ventures board member Roy Lopez called Hinojosa a leader who “built pathways where others saw obstacles.”
Accepting the award, Hinojosa reflected on his journey from South Texas to the national stage. “Wealth comes in many ways,” he said. “The most important is family, faith, and the people you lift along the way.”
Centering well-being: Trauma-informed support for founders
A panel of practitioner-leaders from Impact Ventures, Restorative Economics Group, Cárdenas Coaching, and The BFM Fund explored how founder well-being influences the strength and creativity of the business ecosystem.
Sarah Crane referenced new research defining trauma-informed practices as tools for understanding “how lived experience alters the way people see the world” and for building better systems to support them.
Nydia Cárdenas emphasized managing energy, not just tasks, and creating trust-based engagement with entrepreneurs. Himalaya Rao-Potlapally added that “connection and funding move at the speed of trust,” stressing that empathy, care, and relationships are forms of capital that can be just as valuable as money.
How blended finance drives community growth
In this panel, local leaders dug into how creative capital stacking is reshaping community development in Dallas.
James Armstrong described blended finance as a way to “spread risk and draw in partners who might otherwise stay on the sidelines,” pointing to real-world projects that merge city funds, philanthropy, and private capital.
Dominique Pryor-Anderson said “real estate and relationships are inseparable,” while Becky Gligo noted success hinges on whether communities see themselves in new developments. Frances Smith-Dean stressed the need for shared expectations among all capital partners.
Panelists agreed that when capital is coordinated with purpose, it becomes a catalyst for growth, resilience, and opportunity.
Inclusive leadership in action
In the closing session, Benjamin Vann and Odessa Jenkins laid out what it takes to lead organizations built on equity, accountability, and long-term vision.
Vann called for closing the distance between investors, system builders, and entrepreneurs, noting that “community impact happens when those worlds align.”
Inclusion is “the secret sauce” that fuels innovation, Jenkins said, adding that equity “belongs on the balance sheet” because culture drives performance.
The leaders closed on a note of optimism, saying that progress comes through persistence, transparency, and the courage to lead differently.
Quincy Preston contributed to this report.
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