The year is racing to an end and the ICA and Fund Good Jobs teams are hard at work consulting with our companies, engaging advisors, and ensuring we finish 2015 strong. We've learned a lot this year and we're humbled by the work of our advisors, our entrepreneurs, and our team.
We have a big announcement to make: Fund Good Jobs has invested in two great ICA-grown businesses, Firebrand Artisan Breads and Red Bay Coffee.
In May, Fund Good Jobs invested $600,000 in Firebrand to finance an expansion of the company’s baking facilities, as well as to help it open retail space at the Hive development in Downtown Oakland. Then, in October, we finalized a $300,000 investment in Red Bay Coffee to enable it to open a new coffee bar and roasting facility in East Oakland.
Collectively, these investments unlocked an additional $1,600,000 of growth capital from mission-aligned partners.
And most exciting of all, the investments mean that over the coming years the two companies will be creating lots of good, local jobs. We’re extremely proud to make this announcement and honored to watch these two good employers grow.
As part of this investment, both companies will be opening retail spaces at the Hive development in Oakland. Red Bay Coffee will bring its “beautiful coffee to the people” to a redesigned shipping container-turned-cafe conceived by company founder Keba Konte. And Firebrand is opening its beautiful new bakery and storefront on Broadway this weekend!
The Firebrand Artisan Breads GRAND OPENING is tomorrow, Saturday, 11/21! Come check it out at 2343 Broadway in Oakland!
We couldn't be more excited to deploy our capital and advising resources to grow these local businesses! Read the press release here.