WASHINGTON, July 26, 2011 (GLOBE NEWSWIRE) -- DC Community Ventures (DCCV) announced today that it has completed its initial fund formation. This new fund seeks to invest in local companies in the Greater Washington, DC area that deliver both financial returns as well as social benefits for the communities in which they operate, as measured by job creation among low-income individuals or high-quality services provided to underserved communities. DCCV has a diverse approach, focusing on consumer products, manufacturing, media and communications, and education-related businesses.

"The recent financial turmoil has made it increasingly challenging for businesses serving underdeveloped communities to access the necessary capital to expand," said Karim Zia, co-Founder of DCCV. "This is particularly true in the Greater Washington, DC area, which until now, has had no community development venture capital firms. It is the ideal time to launch a venture fund in this market, one with a dual purpose of creating positive social benefits in distressed areas and delivering superior financial returns."

The Fund's co-founders Karim Zia and Candler Young, both District of Columbia residents, possess strategic, analytical, and financial expertise. As a former Managing Director at Deutsche Bank, Karim oversaw research on top-tier media and communication companies, as well as advised on a number of high-profile financings and M&A deals for such clients as Time Warner, EchoStar, and AT&T Broadband. Collectively, he worked on over 100 equity, corporate debt, and M&A transactions totaling more than $100 billion. Additional industry experience included sell-side equity research at Donaldson, Lufkin and Jenrette and Credit Suisse First Boston.

Candler Young brings close to 20 years of investment management and banking experience to the Fund. Prior to starting DCCV, Candler was a Portfolio Analyst at Glenhill Capital, a long-short equity hedge fund in New York City, where he covered consumer and related stocks.  Before joining Glenhill, he worked at Highline Capital, a hedge fund in New York City and T. Rowe Price in Baltimore, where he served as Group Vice President. At T. Rowe Price, he oversaw up to $5 billion in investments in retail, consumer, industrial, and internet stocks with a focus on small-to-mid capitalization companies. Candler started his investment banking career at Goldman Sachs and sell-side equity research at Donaldson, Lufkin and Jenrette.

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-income employees or provide goods and services to underserved communities, and delivering favorable returns for its investors. The Fund typically makes investments of between $100,000 and $750,000 and focuses mostly on 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 equity-like investments. For more information, please visit www.dccommunityventures.com.

Karim Zia
202-464-9218