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Case
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Reference no. SCG-592
Subject category: Entrepreneurship
Authors: Adlai Wertman (USC Marshall School of Business, University of Southern California); Benjamin Rostoker (USC Marshall School of Business, University of Southern California)
Published by: USC-Marshall/Lloyd Greif Center for Entrepreneurial Studies
Originally published in: 2021
Version: November 3, 2021
Length: 25 pages
Data source: Field research
Topics: Entrepreneurship; Social entrepreneurship; Entrepreneurial financing; Entrepreneurs and founders; Fundraising; Affordable housing; Diversity and inclusion; Race; Marginalized groups; Poverty; Impact investing
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Abstract

SoLa Impact upended the traditional affordable housing industry by delivering high-quality housing to low-income tenants and double-digit financial returns to investors. Founded by Martin Muoto, a former venture capitalist and Nigerian immigrant, SoLa developed its model by purchasing properties in South Los Angeles. Leveraging its success, in 2020, SoLa opened its fourth and, most ambitious, real estate fund: the USD1 billion Black Impact Fund. To persuade institutional investors to join this new fund, Muoto must find a balance between SoLa's financial objectives and its social goals.

Teaching and learning

This item is suitable for undergraduate and postgraduate courses.

Time period

The events covered by this case took place in 2009-2020.

Geographical setting

Region:
Americas
Country:
United States
Location:
Los Angeles, CA

Featured company

SoLa Impact
Employees:
51-200
Type:
Partnership
Industry:
Real estate industry; Nonprofits; Financial service sector

Featured protagonists

  • Martin Muoto (male), CEO, Managing Partner
  • Gray Lusk, COO
Teaching note
-
Reference no. SCG-892
Subject category: Entrepreneurship
Authors: Adlai Wertman (USC Marshall School of Business, University of Southern California); Benjamin Rostoker (USC Marshall School of Business, University of Southern California)
Published by: USC-Marshall/Lloyd Greif Center for Entrepreneurial Studies
Originally published in: 2021
Version: November 3, 2021
Length: 7 pages
Data source: Field research
View full details

About

Abstract

SoLa Impact upended the traditional affordable housing industry by delivering high-quality housing to low-income tenants and double-digit financial returns to investors. Founded by Martin Muoto, a former venture capitalist and Nigerian immigrant, SoLa developed its model by purchasing properties in South Los Angeles. Leveraging its success, in 2020, SoLa opened its fourth and, most ambitious, real estate fund: the USD1 billion Black Impact Fund. To persuade institutional investors to join this new fund, Muoto must find a balance between SoLa's financial objectives and its social goals.

Teaching and learning

This item is suitable for undergraduate and postgraduate courses.

Settings

Time period

The events covered by this case took place in 2009-2020.

Geographical setting

Region:
Americas
Country:
United States
Location:
Los Angeles, CA

Featured company

SoLa Impact
Employees:
51-200
Type:
Partnership
Industry:
Real estate industry; Nonprofits; Financial service sector

Featured protagonists

  • Martin Muoto (male), CEO, Managing Partner
  • Gray Lusk, COO

Related

Teaching note
-
Reference no. SCG-892
Subject category: Entrepreneurship
Authors: Adlai Wertman (USC Marshall School of Business, University of Southern California); Benjamin Rostoker (USC Marshall School of Business, University of Southern California)
Published by: USC-Marshall/Lloyd Greif Center for Entrepreneurial Studies
Originally published in: 2021
Version: November 3, 2021
Length: 7 pages
Data source: Field research
View full details
Extra information