Bridges Fund Management

Federal Home Loan Bank of Atlanta Announces $8 Million Multifamily Housing Bridge Fund

Retrieved on: 
Wednesday, November 1, 2023

ATLANTA, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it is making $8 million in grant funding available for a new program to help close funding gaps for affordable multifamily rental housing projects caused by the steep rise in interest rates and construction costs.

Key Points: 
  • ATLANTA, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it is making $8 million in grant funding available for a new program to help close funding gaps for affordable multifamily rental housing projects caused by the steep rise in interest rates and construction costs.
  • The Multifamily Housing Bridge Fund (Bridge Fund) will offer up to $500,000 per project to member financial institutions and their community housing partners in a competitive application process, which opens on November 8, 2023.
  • Eligible projects for the Bridge Fund will include multifamily and mixed-use rental housing targeted to households earning up to 120 percent of the area median income.
  • “FHLBank Atlanta is committed to developing innovative solutions to help address affordable housing challenges in our communities,” said FHLBank Atlanta President and Chief Executive Officer Kirk Malmberg.

1031 Crowdfunding announces the launch of Bridge Fund II

Retrieved on: 
Thursday, October 26, 2023

1031 Crowdfunding (1031 CF), a real estate investing platform, announces the closing of its 1031 CF Bridge Fund, LLC.

Key Points: 
  • 1031 Crowdfunding (1031 CF), a real estate investing platform, announces the closing of its 1031 CF Bridge Fund, LLC.
  • and the launch of 1031 CF Bridge Fund II, LLC.
  • 1031 CF Bridge Fund II provides short-term financing for real estate programs controlled by the Fund’s Manager.
  • "We are excited to announce the launch of 1031 CF Bridge Fund II," said Edward Fernandez, President and CEO of 1031 Crowdfunding.

Sawa Credit Inc. Announces Appointment of Five Board Members

Retrieved on: 
Thursday, April 13, 2023

OAKLAND, Calif., April 13, 2023 /PRNewswire/ -- Sawa Credit Inc, the venture-backed startup creating a first-of-its-kind community financial support platform, today announced the appointment of five board members: Marla Blow, North America lead at the Mastercard Center for Inclusive Growth; David Brady, Deputy Director and Davies Family Senior Fellow at the Hoover Institution; Charles Hudson, Managing Partner and Founder of Precursor Ventures; Michael Spence, co-recipient of the Nobel Prize in Economic Sciences and former dean of the Stanford Graduate School of Business; and Brian Trelstad, Partner at Bridges Fund Management and a Senior Lecturer at Harvard Business School. 

Key Points: 
  • "We are proud to welcome these five incredible thought leaders to the board," says Charles Phillips , CEO of Sawa.
  • Sawa uses behavioral science to create a community support system for borrowers to increase their financial literacy, facilitate saving, and improve access to emergency capital, thus addressing wealth disparity.
  • It is backed by Precursor Ventures with additional funding from Commerce Ventures, Slow Ventures, Allegis Capital, and Clear Heights Ventures.
  • "If this community model works, it will be powerful and increase access to credit for these communities."

Sawa Credit Inc. Announces Beta Launch of First-of-Its-Kind Community Financial Support Platform

Retrieved on: 
Wednesday, February 8, 2023

OAKLAND, Calif., Feb. 8, 2023 /PRNewswire/ -- Sawa Credit Inc, the venture-backed startup for protecting against financial emergencies and helping others in the community address financial challenges, today announces the beta launch of its community financial support platform.

Key Points: 
  • OAKLAND, Calif., Feb. 8, 2023 /PRNewswire/ -- Sawa Credit Inc , the venture-backed startup for protecting against financial emergencies and helping others in the community address financial challenges, today announces the beta launch of its community financial support platform.
  • Every Sawa user has access to a community-backed emergency fund, protecting them from financial shocks and putting them on the path to building lasting financial health.
  • Sawa is a technology platform that uses behavioral science to create a community support system for borrowers to increase financial literacy and improve access to emergency capital, addressing the wealth disparity.
  • "In the beta, we will learn how to engage community members so they can get through financial shocks and ease their financial fears together — ultimately transforming financial precarity into financial health and wealth for the entire community," says Andrew Henry , co-founder and CFO of Sawa.

Bravo Capital Funds $200 Million in Bridge & HUD Financing Through Q2 2022

Retrieved on: 
Monday, July 25, 2022

NEW YORK, July 25, 2022 (GLOBE NEWSWIRE) -- Bravo Capital and its Bridge Fund affiliate, Bravo Bridge Fund LLC, have closed approximately $200,000,000 in Bridge and HUD-insured financing this year through Q2 2022.

Key Points: 
  • NEW YORK, July 25, 2022 (GLOBE NEWSWIRE) -- Bravo Capital and its Bridge Fund affiliate, Bravo Bridge Fund LLC, have closed approximately $200,000,000 in Bridge and HUD-insured financing this year through Q2 2022.
  • With a $30.6MM skilled nursing portfolio financing and a $7.9MM multifamily closing in late June, Bravo continues to ramp up financing production with top sponsors.
  • The sponsor will use the roughly $30.6MM in bridge financing to acquire the portfolio and further upgrade operations.
  • In March 2022, Bravo Capital and Bravo Bridge Fund closed 5 consecutive transactions with locations ranging from Pennsylvania to New York, and various cities throughout Florida.

International Foundation for Valuing Impacts Holds Inaugural Board Meeting

Retrieved on: 
Tuesday, July 12, 2022

BOSTON, July 12, 2022 /PRNewswire/ -- The newly formed International Foundation for Valuing Impacts (IFVI), a spinoff from the Impact-Weighted Accounts (IWA) project at Harvard Business School, held its inaugural board meeting this past weekend to launch the organization.

Key Points: 
  • BOSTON, July 12, 2022 /PRNewswire/ -- The newly formed International Foundation for Valuing Impacts (IFVI), a spinoff from the Impact-Weighted Accounts (IWA) project at Harvard Business School, held its inaugural board meeting this past weekend to launch the organization.
  • The goal of the International Foundation for Valuing Impacts is to drive the global integration of impacts in financial analysis to promote effective resource allocation and achieve long-term financial stability.
  • Since its inception in 2019, IWA has demonstrated that impact-weighted accounts are feasible, valuable, and scalable.
  • The initial Board of Directors of IFVI comprises five directors; additional representatives will be named once the establishment of the entity has been completed.

MOD Pizza Unveils Key Lime “Squad Cake” to Support the MOD Squad

Retrieved on: 
Tuesday, April 5, 2022

MOD Super Fast Pizza Holdings, LLC (MOD Pizza, MOD, the Company), the purpose-led, people-first, fast casual pizza pioneer, released its newest limited-edition Squad Cake a delicious, lime-flavored white cake filled with tart lime cream, covered in a white chocolate coating and topped with salted sugar.

Key Points: 
  • MOD Super Fast Pizza Holdings, LLC (MOD Pizza, MOD, the Company), the purpose-led, people-first, fast casual pizza pioneer, released its newest limited-edition Squad Cake a delicious, lime-flavored white cake filled with tart lime cream, covered in a white chocolate coating and topped with salted sugar.
  • Each cake sold will provide $.25 to support the MOD Bridge Fund the Companys employee relief fund to help Squad members in times of crisis.
  • The Key Lime Squad Cake will be available beginning today at all 500+ MOD locations system-wide** across the U.S. and Canada, while supplies last.
  • The trademarks MOD, MOD Pizza, and the MOD Shield, are owned by MOD Super Fast Pizza, LLC.

XRHealth Secures $10M in Funding to Expand Virtual Reality Healthcare Treatment in the Metaverse

Retrieved on: 
Monday, February 28, 2022

BOSTON, Feb. 28, 2022 /PRNewswire/ -- XRHealth , the gateway to the healthcare metaverse, announced today that they raised $10M in funding to expand virtual healthcare treatment in the Metaverse.

Key Points: 
  • BOSTON, Feb. 28, 2022 /PRNewswire/ -- XRHealth , the gateway to the healthcare metaverse, announced today that they raised $10M in funding to expand virtual healthcare treatment in the Metaverse.
  • In a recent McKinsey report, the economic opportunity of virtual healthcare is presented as a possible quarter trillion dollar market.
  • As a pioneer of virtual healthcare treatment, XRHealth is creating a major imprint on the healthcare metaverse presence by expanding their accessibility to patients worldwide, connecting patients with treating clinicians.
  • The company operates state-of-the-art therapeutic care Virtual Rooms, utilizing proprietary FDA and CE registered medical Extended Reality (XR) technology (virtual and augmented reality).

Oncode Institute and ArgoBio Launch Laigo Bio, a Targeted Protein Degradation Biotech With Programs in Oncology and Neurological Disorders

Retrieved on: 
Tuesday, February 8, 2022

ArgoBio and Oncode Institute have teamed up with Oncode Investigator Madelon Maurice , researcher and group leader at UMC Utrecht, to launch Laigo Bio, a new company in the emerging field of target protein degradation.

Key Points: 
  • ArgoBio and Oncode Institute have teamed up with Oncode Investigator Madelon Maurice , researcher and group leader at UMC Utrecht, to launch Laigo Bio, a new company in the emerging field of target protein degradation.
  • The company has additionally secured funding from Oncode Bridge Fund and ArgoBio to further develop its proprietary pipeline of targeted immunotherapies SureTACsR.
  • The SureTACsR technology platform is a novel approach in membrane protein degradation, applicable to a broad scope of disease applications.
  • The primary focus lies in the area of oncology, but with parallel programs in neuro-inflammation and neuro degenerative diseases.

White Oak Provides Financing to Support Acquisition of Port 45 Recovery by Sunrise Treatment Center

Retrieved on: 
Tuesday, November 9, 2021

White Oak Healthcare Finance, LLC (White Oak) announced today that it acted as sole lender and administrative agent of a senior credit facility to support the acquisition of Port 45 Recovery LLC (Port 45) by Sunrise Treatment Center, LLC (Sunrise or the "Company"), a Bridges Fund Management L.P. (Bridges) portfolio company.

Key Points: 
  • White Oak Healthcare Finance, LLC (White Oak) announced today that it acted as sole lender and administrative agent of a senior credit facility to support the acquisition of Port 45 Recovery LLC (Port 45) by Sunrise Treatment Center, LLC (Sunrise or the "Company"), a Bridges Fund Management L.P. (Bridges) portfolio company.
  • White Oak provided an efficient execution and significant growth capital that will support our continued expansion, said Ed Niemczyk, Partner at Bridges.
  • The combination of Sunrise and Port 45 will provide the residents of Ohio and Kentucky with a high-quality treatment option that is fresh, innovative, and efficient.
  • Sunrise Treatment Center was founded in 2010 as a substance abuse treatment program focusing primarily on opioid use disorders.