Stephen Groves
Lowcountry Impact Fund co-founders Alex Opoulos and Pete Sniderman; The Harbor Entrepreneur Center’s Grady Johnson, executive director; Jessica Munday, board chair; and Stephen Scates, board member
The Lowcountry Impact Fund (LIF), a locally led charitable impact investment fund sponsored by Abundance Capital, has launched with a $250,000 investment in The Harbor Entrepreneur Center. The fund’s first investment will provide flexible, risk-tolerant capital to help The Harbor expand its work with entrepreneurs, startups and growing companies across the region.
“This investment comes at a critical time for The Harbor as we experience rapid growth and increasing demand for our programs,” said Grady Johnson, executive director of The Harbor Entrepreneur Center. “The Lowcountry Impact Fund understands that investing in entrepreneurship is an investment in the long-term strength of our region. We are grateful for their support and their vote of confidence as we create more opportunities for entrepreneurs to connect, grow and build successful companies right here in the Lowcountry.”
LIF was created to put charitable resources to work addressing funding gaps across the Lowcountry, particularly where traditional philanthropy or conventional financing may not be the right fit. The fund will consider investments in promising businesses, nonprofits and community projects with the potential to create measurable community benefit.
Unlike traditional charitable grants, LIF investments are structured with the expectation of repayment. When capital is returned, those dollars can be reinvested in new opportunities, allowing charitable resources to create impact again and again.
“There is tremendous generosity in the Lowcountry, and we believe there is an opportunity to make some of those charitable dollars work in a different way,” said Pete Sniderman, co-founder of the Lowcountry Impact Fund. “LIF gives us another tool to help strong organizations move important work forward. When those investments are repaid, we can put the resources back to work in our community and extend their impact.”
“The Harbor felt like a natural place to begin because successful entrepreneurs build businesses, create jobs and strengthen communities,” added LIF co-founder Alex Opoulos. “Supporting entrepreneurs has a ripple effect that reaches far beyond any one company.”
Supporting The Harbor’s Next Stage of Growth
With LIF’s support, The Harbor Entrepreneur Center will continue expanding its work with entrepreneurs and growing companies across the Charleston region, including providing affordable office space, strengthening programming and ultimately serving more founders.
While The Harbor represents LIF’s first deployment, the fund’s mandate is broader. LIF will consider mission-first investments in businesses, nonprofits and community projects throughout the Lowcountry where flexible capital can address a funding gap and generate meaningful community benefit.
The Harbor investment marks the first chapter in what LIF calls “Growing the Good” — putting charitable resources to work today with the potential to reinvest those same dollars in the community in the future.
LIF officially presented The Harbor with its $250,000 investment on Sept. 23 during Harbor House Party Vol. II, a fundraising benefit at the Music Farm in Charleston.
ABOUT THE LOWCOUNTRY IMPACT FUND
The Lowcountry Impact Fund (LIF) is a locally led charitable impact investment fund that helps charitable funds do more than one good thing. By expanding access to flexible capital for businesses, nonprofits and community projects that strengthen the Lowcountry, LIF addresses capital needs today while creating a renewable community resource for tomorrow. Learn more at www.abundancecap.org/pooled_
ABOUT THE HARBOR ENTREPRENEUR CENTER
Founded in 2012, The Harbor Entrepreneur Center (HEC) is a 501(c)(3) nonprofit organization dedicated to fostering and advancing the Lowcountry’s entrepreneurial ecosystem. The Harbor provides entrepreneurs with the connections, mentorship, programming and resources needed to start, grow, scale and exit their businesses. Today, The Harbor is home to more than 130 companies and operates one of the largest entrepreneur centers in the country from its Mount Pleasant facility. As it approaches its 15th anniversary in 2027, The Harbor continues to serve as a regional hub for entrepreneurship, collaboration and economic opportunity, strengthening the Lowcountry by helping founders build successful companies and fueling the region’s economy. Learn more at harborec.org.
ABOUT ABUNDANCE CAPITAL
Abundance Capital is a 501(c)(3) nonprofit donor-advised fund sponsor that helps donors activate charitable capital through donor-directed, impact-first investments and grants. Abundance invests in nonprofit organizations, impact-driven businesses, funds, and real estate. If investment capital returns, it can be redeployed into new opportunities, allowing philanthropic dollars to create impact again over time.