COhatch Impact Fund designed to help startups and nonprofits in Ohio, Indiana, Florida and Pennsylvania
COLUMBUS, OHIO, May 18, 2021 – The COhatch Impact Fund has invested in five minority-owned, impact-driven startups, including Dolr, a Columbus-based startup dedicated to getting individuals with student debt more money for student loan repayment from where they shop and work allowing them to be debt-free earlier.
The fund is a 501c3 donor-advised fund that will invest in high potential start-ups with all of the proceeds going to drive the sustainability of local nonprofits in the COhatch GIVE Scholarship program. To find great start-up investment opportunities, the COhatch Impact Fund leans on its partnerships with the Minority Entrepreneurship Institute (MEI), a seed-stage impact investing fund that hosts annual pitch competitions for Black, LatinX, and female founders; Zell Capital, a new type of fund for venture capital investing; OCEAN Programs, a training community for entrepreneurs; and COhatch’s own Impact Programs benefiting startups, nonprofits and civic leaders.
“The goal of the COhatch Impact Fund is not to make money for ourselves, but to keep growing the fund so that we can continue to give more and grow our ecosystem of impactful startups and nonprofits. This is our version of an impact accelerator that will hopefully have a large ripple effect in the communities we serve,” said Matt Davis, co-founder and CEO of COhatch.
So far, the COhatch Impact Fund has invested in four minority-owned, impact-driven startups identified through a fellowship program partnering with MEI – COI Energy, a digital energy management platform, Cuemby, a reliable cloud infrastructure, Home Lending Pal, an AI-powered home mortgage assistant, and NESTRE, a neuro-strength solutions company, as well as Dolr.
COhatch’s work with Dolr is not new – the startup has been a COhatch BOOST Scholar for almost a year. Through COhatch’s BOOST Scholarship, Dolr, and other minority, women-owned, and innovation-based startups, receive access to COhatch resources and spaces for free. Dolr aims to uplift its community financially, emotionally and socially, which aligns with COhatch’s mission of strengthening communities, improving lives and equipping people to be greater.
“COhatch’s investment in us started when they awarded us with a BOOST Scholarship, giving us a professional setting to meet with investors and customers,” said Naveed Iqbal, founder and CEO of Dolr. “Their continued support of our company through this investment means so much to us and we’re excited to see how our relationship with them continues to grow in the future.”
COhatch plans to help all local startups gain exposure and fundraise through its new digital platform, COhatch+.
“There are tons of local investors who would love the opportunity to invest in high potential startups – they just need to have the visibility and opportunity,” said Matt Davis, co-founder and CEO of COhatch. “Even investors that are just getting started will be able to utilize Zell Capital’s Access Fund, which only has a $1,000 minimum.”
Matt and Jodie Davis have also committed to donating 10% of their COhatch shares to the fund over the next 15 years. The long-term vision of the COhatch Impact Fund is to have other local startup founders donate shares of their companies or cash as part of their personal philanthropy so that they can work together collectively to improve the world.
For more information about COhatch, visit cohatch.com. For more information about Dolr, visit getdolr.com.
COhatch, a new kind of shared work, social, and family space built on community, offers members the services, activities and amenities to live a fully integrated life that balances work, family, well-being, community and giving back. Founded in 2016, COhatch was created through the collaboration of a group of friends who wanted to live out their ideal lives and improve their community ̶ think Town Hall 2.0. COhatch has 30 locations open or under construction nationwide in Columbus, Cincinnati, Cleveland, and Springfield, Ohio; Indianapolis, Indiana; Tampa Bay, Florida; and Pittsburgh, Pennsylvania. Visit www.cohatch.com for more information. Follow COhatch on Facebook, Instagram, Twitter, and LinkedIn.
Dolr is a student loan repayment platform helping borrowers accelerate to $0 student debt by connecting them with additional sources of cash for their student loan payments. Dolr members get student loan benefits from work, cashback sent directly to student loans from some of the top brands in the country when they shop, gifts for student loan repayment from their community of friends, family, and well wishers, and are able to automate their good habits. Combined these extra sources of cash can get people out of debt twice as fast.