Fund Profile:

MetaFund Corporation

2225 N. May Ave., Oklahoma City, OK 73107
Telephone: (405) 949-0001
Fax: (405) 949-9005
Website: www.metafund.org
Email: info@metafund.org

Key Personnel:
A. Thomas Loy, Chairman and CEO
Michael W. Harlan, President

Established: 2000

Total Committed Capital: $10 million, plus $54 million New Markets Tax Credit Allocation

Amount Invested: $3.6 million in 18 businesses

Geographic Focus: Primarily Oklahoma

Background
MetaFund is a community development merchant banking venture capital firm that was formed with a meta/macro (universal/inclusive) vision and methodology for addressing community, economic, and workforce development financing needs. Capitalized primarily by the Oklahoma banking industry, and incubated by Oklahoma City University, MetaFund applies a unique approach to collaborative community development, coordinating loan and investment projects of all sizes.

MetaFund lends to, invests in, and facilitates tax credit financing of companies and projects which include a focus on employing, educating, housing, or otherwise directly serving underserved groups; stimulating investment in distressed areas; and/or which have a significant community development-related emphasis. MetaFund's target market includes distressed geographies and underserved demographies: low-moderate income individuals, minorities, the unemployed and underemployed, and any other underserved populations.

In 2003 MetaFund received a $54 million first-round New Markets Tax Credit (NMTC) allocation, which is targeted to distressed areas throughout Oklahoma.

Social Mission
MetaFund seeks to finance and facilitate tax credit financing of enterprises and projects that directly benefit low/moderate-income neighborhoods, the residents thereof, and small business ventures which are owned by and/or employ members of underserved population groups.

Structure
MetaFund, a 501(c)(3) certified community development financial institution (CDFI) and certified community development entitity (CDE) with three for-profit LLC subsidiaries, is structured quite differently from a typical VC fund, and more closely resembles a hybrid merchant bank/VC fund. First, it is an open-ended fund that is continually open to new investors and lenders, and it has a perpetual life. Second, investments in MetaFund can be in either (1) Equity Notes, which are somewhat analogous to perpetual mutual fund shares, or (2) limited-life "self-directed" preferred units, through which investors can choose to invest only in specific portfolio companies.

Investment Information
MetaFund lends and invests in businesses and projects primarily within the state of Oklahoma, and potentially within any industry. MetaFund invests in businesses at all stages of development and usually lends/invests between $25,000 and $1 million. MetaFund typically co-lends and co-invests with banks, traditional VC funds, and other partner organizations.