DLA Piper advises LiftUp Enterprises in investment from Cleveland Avenue

DLA Piper represented LiftUp Enterprises Holdings, LLC in a recent investment from venture capital firm Cleveland Avenue.

Launched in 2018, LiftUp Enterprises is a social enterprise company that focuses on both economic and social outcomes. LiftUp harnesses the talent of the underemployed by providing wraparound services to stabilize their lives and help accelerate their pursuit of building personal wealth. The investment was structured through Cleveland Avenue’s new US$70 million fund, the Cleveland Avenue State Treasurer Urban Success Initiative (CAST US).

“We were pleased to bring our experience advising emerging companies to assist LiftUp in this transaction, which will allow it to continue its important work of supporting the upward mobility of individuals in low-income communities and improving their quality of life. It was a pleasure to partner with the LiftUp team to secure this investment and support their continued growth and their efforts to provide meaningful career opportunities and vital services to those most in need of them,” said Scott Kapp, the DLA Piper partner who led the firm’s deal team.

“DLA Piper's support in securing Cleveland Avenue's investment and innovative approach to working with us through the CAST US fund allows us to continue to expand our work in bridging the wealth gap,” said Julian Posada, President and CEO of LiftUp Enterprises. “LiftUp's holistic approach focuses on both creating a livable job with basic benefits and providing wraparound services to support the well-being of our employees and accelerate their pursuit in building wealth and stability.”

DLA Piper’s Emerging Growth and Venture Capital practice includes more than 200 lawyers in the US who provide strategic counsel to emerging companies in high-growth industries, including biotech, manufacturing, communications, software and semiconductors. Over the last three years, DLA Piper has completed more than 2,100 financings totaling over US$31 billion.