Middlemarch Fund LLC

Overview

Middlemarch Fund LLC is a private investment firm based in San Diego, California, dedicated to addressing the housing crisis by investing in rental housing projects that are affordable to middle-income families. The firm focuses on developments that offer long-term affordability for families earning between 80% and 120% of the Area Median Income (AMI), aiming to create sustainable communities without relying on public subsidies. By partnering with social impact investors, Middlemarch Fund LLC provides equity capital with below-market returns to finance these projects. The firm's investment strategy involves structuring deals with a fixed preferred return and repayment at the first liquidity event, without granting voting rights or profit-sharing. Investments typically range from $1 million to $8 million, targeting a preferred return of 5-8%. The firm emphasizes projects that promote racial equity, balanced communities, and improved health outcomes, aligning with its mission to foster social equity and urban development. Middlemarch Fund LLC has been actively involved in several projects, including the Secoya on Fifth in Bankers Hill and 4233 Kansas in North Park. These developments have received support from notable investors such as the Tom and Karen Mulvaney Trust and Andy Ballester, co-founder of GoFundMe.com. The firm's commitment to creating affordable housing has attracted investments from local community leaders, including the Jewish Community Foundation of San Diego and the Prebys Foundation, further solidifying its role in addressing the housing needs of San Diego's workforce.

Investment Focus

• Projects must provide long-term affordability for families earning between 80% and 120% of the Area Median Income (AMI).
• Developments should promote racial equity, balanced communities, and improved health outcomes.
• Projects must be located in San Diego County.

Portfolio Companies