Enhanced Capital Group on February 16 announced its investment in SMiZE Cream, a start-up ice cream business wholly owned by entrepreneur, television personality and supermodel Tyra Banks. This is the first deal of the Enhanced Capital and TriLinc Global partnership, aiming to provide financing to growth-oriented small businesses that support local economies throughout the United States.
SMiZE Cream is promoted as a “super-premium ice cream with an edible surprise in every serving, called The SMiZE Surprize.” The company will open its first store in Center Court at Santa Monica Place, steps from the Santa Monica Pier in Southern California, and plans to expand internationally.
SMiZE Cream is also an IP-driven enterprise that targets family entertainment with immersive shopping experiences, a children’s book series, film and television programming, and merchandise for all ages. It is creating a non-profit mentorship platform with a dynamic vision to provide goal-setting and goal-getting advice. The program will encourage people to submit a personal goal to the SMiZE Cream website for the chance to present it to a public audience. Those selected will receive the mentorship necessary to achieve their goal and inspire others through community engagement.
“For more than two decades, New York City-headquartered Enhanced Capital has been focused on a simple but important mission: providing private capital to small businesses that create jobs and spur local economic growth,” stated Michael Korengold, president and chief executive officer of Enhanced Capital. “Our partnership with TriLinc and this investment in SMiZE Cream allow us to build on that legacy and make an even greater impact on the businesses that form the backbone of our economy and country.”
Since 2013, Manhattan Beach, California-based TriLinc Global has financed more than $1 billion in 37 developing economies around the world. These investments have supported more than 40,250 jobs. Its partnership with Enhanced Capital represents the firm’s first focus on impact investing in the United States and builds on Enhanced Capital’s extensive experience supporting small and medium-sized businesses.
