DC Community Ventures (DCCV), a community development venture capital firm based in Washington, DC, announced today that it has provided $400,000 of mezzanine debt financing to support the growth of Baltimore-based IT outsourcing and consulting provider Catalyst IT Services.
DC Community Ventures (DCCV), a community development venture capital firm based in Washington, DC, announced today that it has provided $400,000 of mezzanine debt financing to support the growth of Catalyst IT Services.
Baltimore, MD-based Catalyst IT Services is a leading onshore information technology outsourcing and consulting provider. The company possesses extensive technical knowledge and experience across all of the major technical platforms. Catalyst offers its Fortune 500 and middle market clients a range of solutions with a speed, efficiency, and quality unmatched by offshore options at a comparable cost.
DCCV invests in high growth businesses that deliver favorable financial returns, while bringing economic benefit to low and moderate income employees and communities throughout the greater Washington, DC region.
“DC Community Ventures is excited to partner with Catalyst IT in order to help Catalyst realize its significant growth potential,” said Karim Zia, Managing Partner for DC Community Ventures. “Its unique talent identification solution provides Catalyst with the ability to offer better IT outsourcing service than its overseas competitors at a superior cost to domestic competitors, while delivering significant job creation.”
“We look forward to the future,” said Michael Rosenbaum, CEO of Catalyst IT Services. “The solid foundation we’ve built at Catalyst and our new relationship with DC Community Ventures sets the stage for more rapid growth as we build upon our position as the leading onshore alternative to offshore information technology outsourcing and consulting.”
About DC Community Ventures
Established in 2011, DC Community Ventures is a community development venture capital firm with a dual focus of investing in companies in the Greater Washington, DC area that create jobs for low to moderate income employees or provide goods and services to underserved communities, and delivering favorable returns for its investors. The Fund focuses mostly on mid- to late-stage investments, specifically in businesses that are currently generating profits or have significant profit potential. DC Community Ventures also seeks to co-invest with other CDVC funds, traditional VC funds, and institutional investors in equity or debt investments.