Vermont Business Magazine Today, Vermont Works Management Co, an independent alternative investment firm focusing on delivering both competitive financial returns and social impact in support of Vermont’s job creation and economic development, announced the Vermont Innovation Commons’ acquisition of Milk Money L3C, a Vermont based third-party equity crowdfunding portal. Milk Money co-founder, Louisa Schibli, will become a partner in Vermont Works Management to shepherd the acquisition and re-launch of Milk Money.
“Milk Money is an important component of the Commons toolkit and for the pipeline of resources envisioned there, including an embedded fund to support early stage entrepreneurs and their ideas,” said Mark Naud, Executive Director of Vermont Innovation Commons. “It’s essential that our social entrepreneurs have access to capital necessary for them to thrive in Vermont and beyond. Milk Money is an efficient democratized investment tool for all Vermonters, particularly as we focus on investing locally, and globally.”
“Having spent the last several years building the Milk Money platform and our business and investor relationships, it’s clear our businesses need more access to capital and Vermonters want to support them,” said Louisa Schibli. “By joining Vermont Works, and attracting new sources of capital like iFundWomen, I can leverage my experience and connections to help businesses access the right capital at the right time, as well as encouraging and supporting more Vermonters to invest locally.” Additionally, Christine Zachai, principal at ForwardPhilanthropy, has joined the Vermont Works Advisory Board.
In 2016, the Vermont State Employees Credit Union (VSECU) partnered with Milk Money, including an equity investment through VSECU’s wholly owned, independently operated subsidiary, Vermont Heritage Financial Group (VHFG). The partnership signified the first official initiative as part of VSECU’s new vision to leverage its scale, capacity and cooperative principles to foster social, environmental and financial prosperity throughout Vermont. This partnership and investment will continue with Vermont Works and the Commons.
The Vermont Innovation Commons is a project of Vermont Works. Currently in the pre-construction phase of development at Cambrian Rise in Burlington, the Commons will be a first-of-its-kind hub of co-living, co-working, and business accelerator to provide access to meaningful financial resources, experienced mentorship, and international connectivity under one roof. To learn more about Vermont Works and the Vermont Innovation Commons, visit www.vermontworks.co.
About Vermont Works Management Company, LLC
Established in 2016, Vermont Works Management Company, LLC, is an independent alternative investment firm, focusing on delivering both competitive financial returns and social impact in support of Vermont’s job creation and economic development. Vermont Works was founded to foster the growth of livable-wage jobs for Vermonters, to provide a catalyst for innovation with exposure to and adoption of global best-practices in sustainability and operations for Vermont-based companies, and to attract new out-of-state capital further supporting local entrepreneurship and showcasing successful Vermont businesses. To advance its mission, Vermont Works is leading the development of a new regional innovation hub in Burlington, the Vermont Innovation Commons, centralizing business acceleration, co-working, co-living and prototyping space under one roof. Together, Vermont Works and Vermont Innovation Commons provide access to meaningful financial resources, experienced mentorship, and international connectivity, to cultivate Vermont’s nascent thriving entrepreneurial innovation ecosystem.
Source: BURLINGTON, VT (October 15, 2018) —Vermont Works Management