Keith welcomes Bryce Butler, founder and managing director of Access Ventures. Bryce shares his unique journey from the military and being a pastor to becoming an impact investor and advocate for innovative capital strategies that empower local communities. He discusses the concept of “access and agency,” emphasizing the importance of providing not only access to capital but also the tools for individuals to make informed decisions about it. Bryce also explores the community round funding model, explaining how it democratizes investment and strengthens local economies, particularly through his work with WeFunder and the Community Match Fund.
Key Takeaways
[2:50] Bryce shares his military experience as a tank officer, leading soldiers, then his journey through seminary and eventual transition into family offices and impact investing.
[6:52] Bryce describes his role as an instigator, challenging the status quo in local philanthropy.
[8:10] Overview of Access Ventures as a multi-asset, mission-aligned nonprofit.
[10:32] The importance of access to capital and the agency to make decisions.
[12:33] Access as an impact multiplier.
[13:05] Assets under influence vs. assets under management.
[14:01] WeFunder’s community round match fund and its impact.
[17:27] A range of tech, CPG, and yes, even a cookie company (Please & Thank You) benefiting from the investment strategy.
[18:45] How founders decide what type of capital works for them.
[21:14] Raising awareness about the community match fund.
[26:02] The difficulty of getting traditional chambers to support innovative capital solutions.
[29:22] Bryce’s work on policy design to help state-level economic development adopt new capital strategies.
[31:15] How community support plays a critical role in capital allocation.
[31:19] Removing the illusion of favoritism.
[31:49] Raising $240k for a Harlan County beer company.
[32:04] A playbook for launching community rounds in different regions.
[33:05] Bryce’s podcast, More Than Profit.
[35:20] Render Capital’s blended investment strategy for underserved entrepreneurs and raising $15 million.
[37:24] Working with Ross on the Blueprint Local opportunity zone fund.
[38:23] Bryce predicts the growing influence of revenue-based financing and reimagined term sheets for long-term business success.
[40:36] What has surprised Bryce throughout his career journey.
[40:53] The difficulty of moving traditional systems toward innovation.
Resources:
RBF Network
Keith’s Twitter
Bryce: Access Ventures | Email: bryce@accessventures.org | More Than Profit Podcast
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