IGNITE FUND

We Invested in the Future. And It’s Growing.

Ignite Fund, developed was designed to fuel the growth of social enterprises in Baltimore—especially those led by historically marginalized populations. By combining catalytic capital with Innovation Works’ proven mentorship, programming and market-access expertise, we help entrepreneurs build sustainable, community-driven businesses.

Our First Bold Step

A catalytic pool of mission-driven capital to help social enterprises in Baltimore not just survive, but thrive, backed by the full suite of support that Innovation Works provides.

Ignite Fund at a Glance

We raised catalytic capital to invest in enterprises rooted in community, advancing racial equity, creating jobs, and revitalizing commercial corridors. Beyond investments, we offered mentorship, market access, and a network of support — because growing an equitable economy requires more than just dollars.

       

*Investing in social enterprises and historically underinvested neighborhoods in Baltimore City

What We’ve Done Together

 We’ve invested in social enterprises who are build  strengthen neighborhood economies. Most were early-stage companies working across various sectors, including food, manufacturing, health, and the creative economy. Capital was used to hire locally, open storefronts, and stabilize operations, paired with wraparound support including technical assistance, mentorship, market access, and whole-person care. We’ve deployed a range of creative capital tools to meet entrepreneurs where they are and help them grow on their terms.

Our Impact
95%

BLACK-LED

69%

WOMEN LED OR CO-LED

33%

AVERAGE YOY REVENUE GROWTH 

These data points represent the totals across the IC portfolio.

193

FULL-TIME JOBS

184

CONTRACTUAL

20

ENTERPRISES IN COMMERCIAL SPACES

226

PART-TIME JOBS

74%

TOTAL WORKFORCE IN BALTIMORE CITY

Meet Some Portfolio Entrepreneurs

Jeanelle Spencer

Travis Bell

Black Acres Roastery
Food Manufacturing

Melissa Chin

Resonate Baltimore
Arts and Culture

Bianca Wise

Wise Choice Home Care
Health/Human Services

Susan Clayton

WhitePaws RunMitts
Manufacturing

Sid Sharma

Wild Bay Kombucha
Food Manufacturing

Looking Ahead - Ascend Fund

Ignite Fund proved what’s possible. Now, we’re building on that momentum with Ascend Fund

What’s new: Expanded technical assistance, more flexible capital options, and national co-investment partners

“This is not just about investing in social enterprises. It’s about investing in futures.”