The Next Street model is more proactive than ‘Socially Responsible Investing,’ which seeks mainly to do no harm. Expanding urban enterprise requires investment managers who are more inspired by what can be done than what has been done. It requires capital with the courage of its convictions – capital that picks a place, builds businesses, and leaves a legacy.

Growing companies are critical to cities’ prosperity, yet economic development has largely become the province of public and nonprofit institutions.  This is too bad. Grants by governments and philanthropies play a vital catalytic role, but grants alone won’t solve poverty and unemployment. Expanding employment requires successful employers.

Next Street transforms established companies into dynamic engines of growth. Most of our portfolio companies grow at double-digit rates. They hire people, train people, and extend health and retirement benefits to families. They lift the communities around them and reward investors – which enables us to repeat the process at ever-greater scale.

This changes what is possible in the urban enterprise.  For cities, more private investment helps transform catalytic initiatives into sustained economic expansion, relieving pressure on budgets and increasing tax rolls.

For philanthropic investors, Next Street offers a way to promote social change while realizing a return that can be directed to programs.

For large corporations and urban anchor institutions, Next Street provides a way to demonstrate their commitment to small businesses and job creation – by directly expanding small businesses and creating jobs.

This is the urban enterprise. This is Next Street.