Investment in Capital City LLC
Lafayette Square has recently made a significant move to support the growth of Capital City LLC, an inspiring female-led and minority-owned business that is making waves with its Capital City Mambo Sauce. This funding, a First Lien Term Loan Facility, represents Lafayette Square's inaugural financing under its new Specialized Small Business Investment Company (SSBIC) license.
Capital City LLC's Journey
Founded by Arsha Jones and her late husband Charles in 2011, Capital City LLC has evolved into a beloved brand in the condiment market, particularly recognized for the delicious Mambo Sauce. This versatile sauce, which originated in the chicken wing restaurants of the area, is now enjoyed across various dishes including fried chicken wings and ribs, demonstrating its broad culinary appeal.
As a rapidly growing minority-owned family business, Capital City LLC stands out as a niche player, capitalizing on the growing trend of specialty condiments. Arsha Jones has effectively transformed her local business into a prominent consumer packaged goods (CPG) company, nurturing partnerships with major retail chains such as Walmart, Target, and Costco.
Innovative Financing for Underrepresented Businesses
The Facility provided by Lafayette Square through its SSBIC license highlights a commitment to supporting small businesses led by historically underrepresented populations, including women and minorities. This initiative is essential to leveling the playing field in business financing and fostering greater economic equity.
The Vision Behind the Investment
Damien Dwin, the Founder and CEO of Lafayette Square, expressed the personal significance of this investment, stating, "This investment has special meaning to me not only as our first investment from our new SSBIC, but also as a Washingtonian myself and avid consumer of Mambo Sauce." His admiration for Arsha Jones' exceptional business acumen and the prosperous trajectory of Capital City speaks volumes about the potential of underappreciated local businesses.
Collaboration for Growth
Arsha Jones also expressed enthusiasm for the partnership, emphasizing how Lafayette Square’s understanding of her business needs will drive growth. As both companies work together, the aim is to expand the reach of Mambo Sauce and create even more opportunities within the community.
Moreover, Lafayette Square not only provides financial support but also offers access to its Worker Solutions platform, which is tailored to enhance employee retention and benefit adoption. This shows a comprehensive approach to supporting businesses well beyond traditional financing.
About Lafayette Square
Lafayette Square is dedicated to investing in middle-market companies while positively impacting communities. With a belief that capital needs exist beyond affluent areas, the firm targets investment opportunities that stimulate economic growth throughout the nation. Their focus on creating and preserving working-class jobs ensures a lasting impact on local economies.
Frequently Asked Questions
What is the purpose of Lafayette Square's investment in Capital City LLC?
The investment aims to support the growth of Capital City LLC, a women-led, minority-owned business known for its Capital City Mambo Sauce.
Who are the founders of Capital City LLC?
Capital City LLC was founded by Arsha Jones and her late husband Charles Jones in 2011.
What does SSBIC stand for?
SSBIC stands for Specialized Small Business Investment Company, which is a designation granted by the U.S. Small Business Administration.
How does Lafayette Square support its portfolio companies?
Lafayette Square provides financial resources along with access to its Worker Solutions platform, designed to enhance employee retention and benefits.
What types of businesses does Lafayette Square focus on?
Lafayette Square focuses on investing in middle-market companies, particularly those owned by historically underrepresented populations, including women and minorities.
