GÖTEBORG, Sweden, May 15, 2023 — OptiGroup has raised EUR 100 million via a first lien term loan tap issue in a private transaction in addition to its current EUR 425m first lien and EUR 200m second lien debt financing. Leading international and Nordic institutions participated, and the transaction was oversubscribed. The strong interest is a clear indication of the market’s confidence in the OptiGroup’s ongoing growth journey. The proceeds will be used to accelerate growth of the Group, including through add-on acquisitions in the large and highly fragmented and attractive European B2B distribution market, estimated at EUR ~150 billion.
OptiGroup is a leading European distributor that provides customised supply solutions to over 100,000 B2B customers in over 20 countries. The Group has a broad product offering in Medical, Facility & Safety, Packaging Solutions, and Business Supplies.
The funding will further strengthen OptiGroup’s target to enhance its position as a leading European B2B distributor. The Group has a strong track-record of successful and synergistic acquisitions, recently with Facility Trade Group and MaskeGruppen, two leading distributors of medical and facility products in the Benelux and Nordic regions, respectively. OptiGroup’s M&A strategy continues to prove successful, and the Group has several potential targets in attractive market segments identified in the pipeline, in line with its business strategy.
In 2022, OptiGroup delivered a solid operational and financial performance, which generated revenues of EUR ~1.7 billion with growth of more than 20%, whereof organic growth of ~9%.
“We are very pleased to raise this debt funding, which will allow us to take significant steps in our journey towards becoming a strong market leader in the highly attractive B2B distribution market in Europe. For our internationalization and growth phase, the debt funding, and the support from our owners, will help us to drive further growth, including through acquisitions within not the least the Medical and Facility & Safety segments and Packaging Solutions.” Sören Gaardboe, President and CEO at OptiGroup.
The shareholders of OptiGroup, with controlling owner FSN Capital VI continue to be committed in the business’ growth journey.
“Since FSN Capital VI became majority owner of OptiGroup in March 2022, the Group has demonstrated that it has attractive customer offerings throughout Europe, which has led to its strong financial development. We are committed to support and work closely with the management team of OptiGroup, to continue the Group’s profitable growth journey.” Niclas Thiel, Principal at FSN Capital Partners (investment advisor to FSN Capital VI).
The transaction was led by Jefferies, JP Morgan, Danske Bank (lead joint bookrunners and lead arrangers) and Baker McKenzie (legal).
For further information, please contact: Sören Gaardboe, President and CEO, OptiGroup, [email protected] Stefan Sikander, Corporate Communication Director, OptiGroup,[email protected]
ThayerMahan to anchor acoustic mitigation systems headquarters in New Bedford as it expands to further serve the offshore wind industry
NEW BEDFORD, Mass., May 12, 2023 — Vineyard Wind, a joint venture between Copenhagen Infrastructure Partners (CIP) and AVANGRID, Inc. (NYSE: AGR), today announced a pilot program to deploy and test a secondary bubble curtain during foundation installation through a partnership with ThayerMahan, a firm that specializes in seabed surveys, acoustic mitigation and monitoring, and other maritime related services, with facilities in Connecticut and Massachusetts. The $5 million in funding comes from Vineyard Wind’s Industry Accelerator Fund, which is administered by the Massachusetts Clean Energy Center (MassCEC).
(PRNewsfoto/ThayerMahan Inc.)
Bubble Curtain noise mitigation system.
As a part of the agreement, ThayerMahan will move its headquarters for their bubble curtain acoustic mitigation product line to New Bedford, sharing part of the Foss Marine Terminal. ThayerMahan, partnered with the world leader in Big Bubble Curtain technology – Hydrotechnik-Luebeck (HTL), has committed to hiring locally for a wide array of positions, from deckhands to data scientists. The firm has already established a training/internship program with UMass Dartmouth, in addition to agreeing to assembly and manufacturing operations for future projects in New Bedford. Once this partnership is executed, ThayerMahan will be the first American company to provide bubble curtain services to the US Offshore Wind industry.
“Our agreement with ThayerMahan ensures that for the first time, a US-based company will perform the service of providing a bubble curtain mitigation system for an offshore wind project,” said Vineyard Wind CEO Klaus S. Moeller. “We believe this is the first step of getting US firms experience in this new industry and sets the stage for rapid expansion in the coming years, particularly in our hometown of New Bedford.”
“The deployment of this bubble curtain by ThayerMahan marks another milestone in the construction of this nation-leading project and demonstrates offshore wind’s potential to create local jobs and economic impact,” said AVANGRID CEO Pedro Azagra. “We are proud to come to this agreement with a local maritime services firm that will help us deliver on the successful, environmentally responsible installation of this project and launch the offshore wind industry in the United States.”
A bubble curtain, which is comprised of large, perforated hoses and specialized air compressors, is designed to absorb and dampen sound during foundation installation. The hoses are placed on the seafloor around the monopile before being filled by compress air. Once the hoses are inflated, the air escapes through the perforations and creates a barrier of bubbles that reduce noise.
These operations will be conducted from the Northstar Navigator, a vessel that will be operated out of the Port of New Bedford.
“We are proud to support Vineyard Wind in the construction of the United States’ first large scale offshore wind development,” said ThayerMahan Chairman and CEO Michael Connor. We appreciate the support of Massachusetts Clean Energy Center in establishing a world class noise mitigation capability in New Bedford that will serve construction efforts throughout the region. We continue to hire motivated workers who want to be a part of an effort that helps deliver a sustainable energy future.”
“We are thrilled to see ThayerMahan bring its innovative solutions and acoustic mitigation operations base to New Bedford, and we commend them for their commitment to building a local workforce. This is yet another first for Massachusetts’ offshore wind industry and cements our growing leadership,” said MassCEC CEO Jennifer Daloisio. “MassCEC is proud to support Vineyard Wind’s Industry Accelerator Fund, which is catalyzing local innovation and job creation in the Commonwealth’s growing offshore wind industry.”
“We’re very happy to welcome ThayerMahan’s world leading autonomous maritime solutions to New Bedford’s growing ocean cluster and by the company’s commitment to hiring local,” said Jennifer Downing, Executive Director of the New Bedford Ocean Cluster (NBOC). “ThayerMahan’s partnership with UMass Dartmouth is particularly exciting as it will help to prepare our local workforce for future job opportunities as the company continues to expand its operations in New Bedford. We are once again seeing an exciting first for U.S. offshore wind unfold in the Port of New Bedford, further solidifying Massachusetts and New Bedford as a leading hub for the industry.”
An 800-megawatt project located 15 miles off the coast of Martha’s Vineyard, Vineyard Wind will generate electricity for more than 400,000 homes and businesses in the Commonwealth of Massachusetts, create 3,600 Full Time Equivalent (FTE) job years, save customers $1.4 billion over the first 20 years of operation, and is expected to reduce carbon emissions by more than 1.6 million metric tons per year, the equivalent of taking 325,000 cars off the road annually.
About Vineyard Wind
Vineyard Wind LLC is an offshore wind development company that is building the first commercial-scale offshore wind energy project in the U.S., to be located 15 miles south of Martha’s Vineyard. Vineyard Wind 1, based in New Bedford, Massachusetts, is 50 percent owned by funds of Copenhagen Infrastructure Partners (CIP) and 50 percent by Avangrid Renewables, a subsidiary of AVANGRID, Inc. (NYSE: AGR). For more information, visit www.vineyardwind.com.
About ThayerMahan
ThayerMahan, Inc. is a maritime technology company dedicated to providing its government and commercial clients with turn-key autonomous marine solutions, including deployment, operations, data gathering, and analysis services, using state-of-the-art acoustic and electronic sensors integrated on a variety of host platforms tailored to specific mission criteria. ThayerMahan is a market leader in marine services support to the USOW industry including Acoustic Mitigation and Monitoring to protect marine mammals, precision seabed surveying, and UXO/MEC survey and remediation. The company is headquartered in Groton, CT with additional locations in Lexington, MA, Boston, Washington, DC and now New Bedford, MA. For more information, please visit www.thayermahan.com/sectors/offshore-renewables or contact Richard Hine at [email protected].
CHICAGO, May 12, 2023 — IT company Mitgo announced an investment into the mindfulness, meditation, and sleep quality mobile app, Practico. The US version, “Urso”, is expected to roll out by the end of Q2, 2023, supported by Mitgo’s Chicago office.
The meditation and mindfulness market is booming, with revenues forecasted to reach $17.5b USD by 2030. Practico’s founders, Anton Shayakhov, Dima Afonin, and Daniel Kosinsky, developed the app in 2019, achieving 300K downloads and 20K subscriptions. The trio decided to enter the US market, where they found it to be competitive and oversaturated. To stand out, they opted for gamification.
In 2022, Practico’s founders decided to fuse mental-health apps and mobile gaming, incentivizing participation and rewarding progress. This required a total app rebuild, and that’s when Mitgo came in as an investment partner to aid with product development and business scaling.
“We want to do things differently. We want the app to truly engage the user. So, we’re planning a significant pivot for our app: lots of gamification, 3D graphics and all sorts of new features. With new investments, we will expand the team and launch an application that we believe will greatly change the mindfulness market. This app will show you that even non-gaming practices like meditation can be really exciting. Users will see clear progress in their awareness and, most importantly, become happier,” Anton Shayakhov, co-founder and CEO of Practico.
Mitgo brings its startup development experience and venture capital network to attract additional investments and accelerate the project. The new app, “Urso”, aims to set a clear path to “becoming a better self”, offering self-care tools and techniques. Users are guided along this path by virtual characters who introduce them to digital worlds, leading them through various aspects of mindfulness and rewarding achievements.
The app uses a Tamagochi-like approach, appealing to users’ instincts to care for their digital avatar’s wellbeing. This innovative combination of mindfulness and gaming attracted Mitgo’s interest.
“We believe in innovative products with great business potential. Practico’s new app could be exactly this – making it easier for consumers to understand, download, use, and benefit,” Alexander Bachmann, CEO of Mitgo.
Mitgo’s investment in Practico is part of a massive $100 million investment plan aimed for completion by 2025. The capital will be spent on developing regional infrastructure and businesses, with a significant portion dedicated to investments in promising projects like Practico.
BEIJING, May 12, 2023 — From May 8th to 10th, 2023, the 12th Annual Investment Meeting (AIM) was held in Abu Dhabi, the capital of the United Arab Emirates. Ge Jun, Global CEO of TOJOY Shared Holding Group, was invited to talk about the investment paradigm shifting brought by global technological breakthroughs, climate change, pandemic impact and geopolitical tensions.
Ge Jun, Global CEO of TOJOY, Shared China’s Investment Opportunities at the Global Leaders Debate Panel
Ge Jun, Global CEO of TOJOY, Delivered Keynote Speech at China-Arab Unicorn Summit
“Given the size of the market, the context of government initiatives to pursue sustainable development and improve people’s health and well-being, China’s economic field has burst out with great potential. Ge Jun emphasized at the Global Leaders Debate panel which was held at the opening session.
Ge Jun cited Hurun’s 2023 Global Unicorn List as an example. Currently, there are around 1,300 unicorns in the world, of which 666, or 48% come from the United States and 316, or 23% are from China. According to Ge Jun, despite the gap between the two countries in terms of quantity, unicorns in China, after combining their market size and market value, are of similar scale to their US counterparts. This undoubtedly proves the great potential of Chinese unicorns.
“This round of global epidemic has stimulated people’s concern for health and investment in health.” Ge Jun said that the outline of the “Healthy China 2030 Plan” issued by the Chinese State Council has set a clear target of 16 trillion yuan of investment by 2030. The healthcare industry will usher in unprecedented opportunities for its development in China. At the same time, China is an advocate and leader of the dual-carbon economy. This will also release huge market opportunities for global investors.
In the keynote speech during the China-Arab Unicorn Summit, Ge Jun shared the topic of SME innovation based on his own experience, which attracted wide attention from global investors and entrepreneurs.
Before joining TOJOY, Ge Jun served as Global Vice President of Intel, Apple and Nvidia, three of the Global Fortune 500 companies, and had unique views on the development of global technology enterprises and business model innovation. When citing Apple as an example, Ge Jun mentioned that Apple’s advantage is the establishment of a “super platform” for developers. Such platform has helped tens of millions of APP developers in the world grow rapidly and help them expand their products to the world.
“For start-ups, their advantages are often focused on product capabilities and innovative technologies, but they lack relevant industrial resources and market base”
Ge Jun introduced TOJOY, a company with 32 years of experience in enterprise acceleration and has a tremendous industrial resource pool. The core business of TOJOY is to provide high-quality innovative enterprises with acceleration engines and help realize their business transformation.
Up to now, TOJOY’s platform has gathered more than 2.8 million SME owners and over 18,000 potential innovative enterprises, of which 160 are being accelerated.
“In China, about 10,000 innovative enterprises need various resources to support their development every year, and 10 million traditional SME owners to transform and upgrade. That requires empowerment from shared platforms, which is our responsibility.”.
Ge Jun’s speech was widely praised among the participants, and will enhance investors’ confidence in investing and running businesses in the Chinese market.
BEDFORD, Mass., May 12, 2023 — Sealonix announced today that it has closed a $20 million Series A financing. The round was led by Excelestar Ventures with additional participation from AMED Ventures, Sparta Group, Iyengar Capital, J2 Ventures and TiE Boston.
Sealonix is using its biomaterials expertise to develop next generation hemostatic sealants for surgical use. The initial product that Sealonix is developing is a sealant patch providing rapid hemostasis for abdominopelvic and orthopedic procedures. The PramStat patch is designed to bioabsorb within a week following implantation. The proceeds from this round will be used to grow the development team and execute clinical trials.
Dr. William Spotnitz, Professor of Surgery at the University of Virginia Health System with over 20 years in hemostat device research, noted, “Obtaining hemostasis with existing approved devices during surgical procedures can be a challenging and time-consuming task. The PramStat patch has the potential to drastically reduce this time as well as instill confidence in the durability of the hemostatic seal.”
“At Excelestar, we are excited to partner with Sealonix’s experienced team to bring this next generation hemostatic sealant to market,” said Tasneem Dohadwala, Founding Partner at Excelestar Ventures, who will also be joining Sealonix’s Board of Directors.
Amar Sawhney, Sealonix CEO, commented, “The PramStat patch builds on many years of research done by this experienced team, and now will move rapidly into clinical development. This capital will allow us to complete clinical development and pursue FDA approval. We look forward to bringing the most advanced device and method to control surgical bleeding to surgeons.”
About Sealonix, Inc: Sealonix, Inc. is a privately held company based in Bedford, MA focused on the development and commercialization of hemostatic sealants using its proprietary biomaterials. The company, founded in January 2023, is the latest by serial entrepreneur Amar Sawhney who also founded Confluent Surgical, Ocular Therapeutix, Augmenix,, Instylla, and Rejoni among others. More information about Sealonix can be found at http://www.sealonix.com
About Excelestar Ventures Founded in 2009, Excelestar Ventures invests in disruptive businesses led by under-represented founders including minorities and women. Excelestar Ventures generally invests in a strong team leading a B2B company, either in tech or medical devices, that has a clear, disruptive technology. www.excelestarventures.com
Diana Hrisovescu and Shay McDonnellWill Use the $100,000 O’Shaughnessy Fellowship Grant to Develop Script, Which Enables Individuals to Access Government Support Digitally, on a User-Friendly Platform and in Their Native Language
GREENWICH, Conn., May 12, 2023 — O’Shaughnessy Ventures LLC (“OSV”), an investment firm that empowers creators, has announced that it has awarded an O’Shaughnessy Fellowship to Diana Hrisovescu and Shay McDonnell.
Hrisovescu and McDonnell will use their $100,000 fellowship grant to develop Script. Script aims to enable a greater number of individuals to access social welfare resources and entitlements. It will help immigrants, refugees, asylum seekers, and minority groups access government support digitally, on a user-friendly platform, and in their native language.
O’Shaughnessy Ventures Fellows Diana Hrisovescu and Shay McDonnell
OSV’s founder and CEO, Jim O’Shaughnessy, commented as follows:
“Diana and Shay are both impressive individuals who have achieved a huge amount at a young age. We’re excited to support them in their mission to address language disparities and enhance digital accessibility to social welfare resources. The potential social benefits have already been demonstrated by Script’s fantastic work helping Ukrainian refugees arriving in Ireland.”
Hrisovescu said, “We are excited to use the $100,000 fellowship grant to advance language equality and enhance digital accessibility for social welfare resources as fast as possible!”
Script was founded as a SciFest project in January 2020. Hrisovescu was 16 years old at the time. It was subsequently accepted into several accelerator programs. During one such program, Script supported Ukrainian refugees arriving in Ireland. It was later selected as a “30 under 30” Irish business in the Irish Independent’s December 2022 issue.
More information about Script is available on its website.
About Hrisovescu and McDonnell
Hrisovescu moved to Ireland from Romania aged 14. She learned English in only three months to help her brother access medical support.
Hrisovescu taught herself web development by building websites from the ground up and has taught children aged 7-18 how to code via the CoderDojo community. She is also a member of Teen-Turn, an organization aiming to provide teen girls with hands-on STEM experience.
Hrisovescu now attends Trinity College Dublin (“TCD”), where she studies Computer Science with Business.
McDonnell also attends TCD, studying Computer Science with Linguistics. He began programming aged 13 and, by leveraging online resources, gained experience developing various Android mobile apps, games, and websites. He joined Script as co-founder and lead technical engineer in April 2022.
About the Fellowship Program
OSV launched the Fellowship Program in 2023. It is a one-year program for ambitious people who want to build something great. Fellows receive a $100,000 grant and access to OSV’s network of founders, investors, and experts to support them in bringing their projects to life.
OSV has awarded seven Fellowships previously and will award twelve in total. Applications for the Fellowships remain open through May 2023. Creators interested in applying can do so via OSV’s website.
About O’Shaughnessy Ventures
OSV is a creative investment firm that empowers and inspires creators to bring their ideas to life. Founded by Jim O’Shaughnessy, a pioneer in quantitative investing, founder of O’Shaughnessy Asset Management, and author of four books on investing, OSV aims to provide financial support and to partner in growing the next life-changing creative ideas.
OSV combines Jim’s deeply rooted interest in all things art, science, investing, and tech with his long-held desire to establish scenarios designed to help promising creators and their inspiring ideas succeed, regardless of age, location, job history, or level of education. For more information, visit https://www.osv.llc/.
Media Contact: Ena Gong O’Shaughnessy Ventures LLC (917) 355-7420 [email protected]
Initiated and backed by the Embassy of Slovenia in Israel, Slovene Enterprise Fund, SPIRIT Slovenia, the European Fund for Regional Development of the European Union, the second cohort will be held in Tel Aviv between June 12th-15th.
Up to 8 Slovenian startups will be selected for the program and arrive in Israel looking to connect to the Israeli tech ecosystem, investors, industry, and research organizations.
TEL AVIV, Israel, May 12, 2023Arieli Capital was recently selected to lead a second cohort of the innovation program, which will take place in Tel Aviv on June 12th-15th. 8 Slovenian startups will visit the Israeli market and connect with Israeli investors, industry leaders, academics, and technology companies.
The first cycle of the program was launched in 2021 and included 9 Slovenian startups participating in hundreds of meetings and events with Israeli industry leaders as well as research and investment organizations. Thanks to the program, Israel and Slovenia strengthened their economic ties and advanced agriculture, business, and trade delegations.
The second program is spearheaded by the Slovenian Embassy in Israel, Slovene Enterprise Fund, SPIRIT Slovenia, and the European Union, and will include a long list of meetings and speakers from key organizations in the Israeli innovation industry including APM Law Firm, EIT, SNC, IIA, Startup Grind, Slovenia Israel Chamber of Commerce, Italy Israel Chamber of Commerce, CheckPoint, Amadeus, The Hebrew University, Frontier Agritech Innovation Center, Shaare Zedek Hospital’s commercialization department and more.
The program’s final event will be attended by an official delegation of Slovenia’s Ministry of Economy, Tourism, and Sport, Slovene Enterprise Fund, and SPIRIT Slovenia, leading Slovenian government institutions in charge of the internationalization of companies.
During the program, each startup will have a customized work plan based on its technological and business needs aiming to help startups advance business partnerships, pilots, clinical trials, joint research, and connections with investors.
Andreja Purkart Martinez, Ambassador of Slovenia in Israel: “Slovenia and Israel are both advanced countries with technological backgrounds and capabilities, as well as a shared vision for a better future. It is great to see the accelerator program grow and continue to promote the strategic cooperation between the Slovenian and Israeli innovation ecosystems.”
Or Haviv, Partner and Head of Innovation at Arieli Capital: “Europe’s innovation industry is growing rapidly. The EU is investing heavily in research, academia, and technology, recognizing that an investment in innovation is an investment in the economic and social future of its communities. The Slovenia–Israel startup accelerator introduces a new deal flow of technology companies, business collaborations, and investments, and in return introduces new markets and growth opportunities for Slovenian startups. We are excited to launch the second cycle of the Slovenia–Israel startup accelerator and keep strengthening the social and economic ties between Slovenia and Israel.”
About Slovene Enterprise Fund:
SEF is a leading provider of bank loan guarantees, a central provider of microcredit for micro and small businesses, an active co-creator of the startup ecosystem in Slovenia to achieve the global success of start-ups, a key co-investor of seed and venture capital in Slovenia and an integrator of corporate networks in the international environment.
About SPIRIT Slovenia:
SPIRIT Slovenia Business Development Agency is a single point of contact for businesses and investors looking for new opportunities. The agency’s chief tasks include promotion of Slovenia’s companies abroad as well as promoting Slovenia’s advantages as an FDI location. SPIRIT Slovenia helps both Slovenian companies to increase their exports and international companies to invest and expand in Slovenia and beyond.
About Arieli Capital:
A US-based holding and investment company. Our mission is to build multi-generational wealth by increasing our technology footprint worldwide. Arieli Capital focuses on two main activity pillars: Capital – backed by multi-generation family offices, Arieli invests in prominent cross-vertical and impact-driven startups and funds; Innovation – Arieli is trusted by governments, leading global corporates, and funds to design and conduct official innovation programs, creating an international pre-screened deal flow, market expansion, and investment opportunities while acting as a social and economic growth engine.
The Angeles 100 celebrates a collection of inspiring venture-backed startups driving innovation. These startups have built, or are building, great companies of the exact kind Angeles supports and invests in. This year’s honorees exemplify how startup founders are driving business forward and setting their organizations up for success.
The 2023 awardees were nominated and selected based on their having secured funding (seed through Series E), the founder, co-founder, and/or board member being of Hispanic or Latin descent, being incorporated in the United States and their ability to show year-over-year growth.
“We’re excited to be back for a second year at the Computer History Museum in California to celebrate great business achievements, exceptional leadership, create new partnerships, and for the opportunity to learn from top investors and entrepreneurs driving the venture capital landscape,” said David Olivencia, Angeles Investors CEO.
Angeles Investors will celebrate the top 100 startup ventures with Hispanic and Latino leadership, called the Angeles 100, during the Angeles Q2 Pitch Night Event & Awards this evening at the Computer History Museum in Mountain View, California.
We are now accepting nominations for our 2024 Angeles 100 award. Click here to apply.
Angeles Investors is one of the largest and fastest growing Angel Investing groups in America that brings together people from all ethnicities and backgrounds across the country to support Latino and Hispanic entrepreneurs in building the next great companies.
Investment includes addition of 18 new partners to growing network of nonprofits
SEATTLE, May 11, 2023 — The REI Cooperative Action Fund is announcing a $4 million investment in 40 nonprofit organizations collectively creating a more equitable outdoors. This investment includes the addition of 18 new organizations to the Fund’s growing nationwide network of nonprofit partners, as well as renewed support for 22 existing partners. As a community-supported nonprofit, the Fund is fueled by donations from REI Co-op, its customers, members, and employees, as well as corporate partners, and foundations. Since the Fund’s launch in 2021, more than 800,000 people have donated.
The REI Cooperative Action Fund announced $4 million in new investments. As an independent, community-supported nonprofit, the Fund exists to create a more equitable outdoors by bringing together collective strength of the REI community.
“This new investment is our largest to date, demonstrating the power of our community when we come together to make a positive impact,” said Kristen Ragain, REI Cooperative Action Fund managing director. “This generosity has allowed us to continue funding our existing partners, while engaging new organizations that strengthen the health and well-being of people and communities through time outside.”
The Fund exists to bring together the collective strength of the co-op community. The Fund announces new investments each year in the spring and the fall to provide unrestricted funding to nonprofit partners across three specific areas: connecting people outside, creating space outside, and centering health outside. New grantees are recommended in part by local REI employees, peer funders, the general public, and government organizations.
Connecting people outside The Fund supports outdoor-focused organizations that are led by and serve Black, Indigenous and people of color, the LGBTQ+ community, people with disabilities, women, and low-income communities. New grantees include:
Bikes Not Bombs uses the bicycle as a vehicle for social change to achieve economic mobility for Black and other marginalized people in Boston and the Global South. (Boston, $100,000)
Hike Clerb is equipping Black, Indigenous, women of color with the tools, education, resources and experiences they need to collectively heal in nature from Los Angeles and beyond. (Los Angeles, $100,000)
Latinas en Bici exists to improve the social and physical well-being of Latinas through weekly bike rides and multicultural events. (Rogers, Arkansas; $100,000)
River Newe promotes intergenerational learning experiences within Shoshone Bannock Traditional Knowledge and Teachings in their traditional spaces, places, wild landscapes and rivers through four values: honor, protect, restore, and heal. (Fort Hall Reservation, Idaho; $100,000)
Creating space outside The Fund supports efforts to increase equitable access to outdoor spaces and recreation opportunities, with a specific focus on community-led solutions that bring environmental benefits closer to home for marginalized communities. New grantees include:
Ancestral Lands Conservation Corps is a program of Conservation Legacy that leads Native American nations back to ecological and cultural well-being by engaging local Indigenous youth in conservation projects on public and ancestral lands. (Albuquerque, New Mexico; $100,000)
Caracara Trails supports a vision for a 428-mile trail network that will link the natural, cultural, and historical resources of communities in the Rio Grande Valley, while promoting healthier lifestyles and generating community pride for everyone who lives there. (Brownsville, Texas; $100,000)
Groundwork USA is a national network of environmental justice organizations that works hand-in-hand with marginalized communities to transform neglected land and waterways into community assets, like parks, trails, and community gardens, that meet their environmental, social, economic, and health priorities. (Harrison, New York; $100,000)
Ohio River Way seeks to boost the health, stewardship, and economies of struggling communities along the Ohio River through outdoor recreation, education, and tourism. (Cincinnati, Ohio; $100,000)
Rails to Trails supports the 3,700-mile cross-country Great American Rail Trail that will run from Washington state to Washington D.C. The project will support equitable and inclusive trails to 50 million Americans in 12 states across the country. (Washington, D.C.; $100,000)
Ríos to Rivers inspires the protection of rivers worldwide by investing in underserved and Indigenous youth who are intimately connected to their local waters and support them in the development as the next generation of environmental stewards. (Aspen, Colorado; $100,000)
The Singing River Trail will be a more than 200-mile greenway system that strengthens regional bonds, and creates new health and wellness, educational, economic, tourism, entrepreneurial, and workforce opportunities for the people and communities of North Alabama. (Huntsville, Alabama; $100,000)
Centering health outside The Fund supports efforts to strengthen and amplify scientific research, and support Traditional Ecological Knowledge to demonstrate that time outside improves mental, physical and emotional health and well-being. New grantees include:
Campus Nature Rx is a coalition of over 50 colleges and universities dedicated to supporting campus mental and physical health through inclusive and equitable nature engagement programming, trainings, communications, and research. (Ithaca, New York; $150,000)
The Center for Health & Nature is a collaboration between Houston Methodist, Texan by Nature and the Texas A&M Health Science Center that aims to drive research to study the impact of nature on health with evidence-based programs that complement the full continuum of health care. (College Station, Texas; $150,000)
The Center for Nature Immersion and Practice at Colorado State University improves the impact of current nature-based programming and the quality of empirical research on nature and human wellbeing through a unique model of co-creation with nonprofits. This enables partners to collect scientific data themselves, which both expands current scientific knowledge and evaluates programs. (Fort Collins, Colorado; $150,000)
The Institute for Agroecology (IFA) at the University of Vermont aims to confront inequity, foster human and ecological wellbeing, and support dignified livelihoods through research, learning and engagement. IFA recognizes emergent intersections with public health and human behavior, and is committed to advance agroecology, nature and health. (Burlington, Vermont; $150,000)
Park Rx America aims to decrease the burden of chronic disease and increase health and wellness in marginalized communities by working with healthcare providers to incorporate nature prescriptions. (Washington, D.C.; $150,000)
The Trauma Foundation supports the healing of unresolved trauma by developing and funding programs, initiatives and research focused on innovative approaches to support mental/behavioral health and trauma recovery. Funding will support the Pathways Nature Healing Program, which is the first nature based direct service program that can be sustainably funded through insurance, Medicaid and Medicare reimbursements. (Bainbridge Island, Washington; $150,000)
As an independent, 501(c)(3) organization, the Fund is led by its own board of directors with the support of a dedicated staff and compensated community advisors, who are respected leaders focused on access and equity in the outdoors. REI Co-op continues to provide ongoing support for the Fund’s operations and grantmaking. Anyone can participate in the Fund’s mission from direct donations to recommending a grantee.
About the REI Cooperative Action Fund The REI Cooperative Action Fund is a 501(c)(3) public charity launched in 2021 by REI Co-op to create a more equitable outdoors by bringing together the collective strength of the co-op community. The Fund aims to inspire millions of REI members, thousands of REI employees, and hundreds of nonprofit partners and community leaders to support organizations that are improving the well-being of all people through time outside. With ongoing support from REI Co-op, 100% of donations from the general public to the Fund go to the people and organizations leading this work in communities across the country.
About the REI Co-op REI is a specialty outdoor retailer, headquartered near Seattle. The nation’s largest consumer co-op, REI is a growing community of 23 million members who expect and love the best quality gear, inspiring expert classes and trips, and outstanding customer service. REI has 181 locations in 42 states and the District of Columbia. If you can’t visit a store, you can shop at REI.com, REI Outlet or the REI shopping app. REI isn’t just about gear. Adventurers can take the trip of a lifetime with REI’s active adventure travel company that runs more than 100 itineraries across the country. In many communities where REI has a presence, professionally trained instructors share their expertise by hosting beginner-to advanced-level classes and workshops about a wide range of activities. To build on the infrastructure that makes life outside possible, REI invests millions annually in hundreds of local and national nonprofits that create access to—and steward—the outdoor places that inspire us all.
