Introduction

As the Mission Driven Bank Fund scaled its operations and deepened its impact in underserved communities, managing the complexity of investor relations, deal flow, and portfolio management became increasingly challenging. Operating in partnership with CDFIs (Community Development Financial Institutions) and MDIs (Minority Depository Institutions), the Fund faced the pressing need to streamline processes, improve data visibility, and increase operational efficiency to better serve its mission of closing the racial wealth gap.

Seeking a comprehensive digital solution, the Mission Driven Bank Fund turned to Asset Class. By adopting the Fund Operating System (FOS), the Fund aimed to transform its investment management and reporting processes, enabling real-time tracking of investor activities, seamless capital deployment, and enhanced collaboration across partner firms.

This case study explores how the partnership between Asset Class and the Mission Driven Bank Fund successfully addressed these operational challenges and drove meaningful improvements in efficiency, communication, and impact.

Mission Driven Bank Fund Overview

The Mission Driven Bank Fund is focused on closing the racial wealth gap by investing capital and providing technical services to CDFIs and MDIs. Its mission is to foster growth and enhance financial resiliency within the mission-driven banking sector, specifically targeting communities of color, including African American, Native American, Asian, Hispanic, and Pacific Islander communities.

For more information, visit: www.missiondrivenbankfund.org.

Challenges & Objectives

As the Mission Driven Bank Fund grew, several operational challenges emerged, including:

• Investor Onboarding Inefficiencies: The existing onboarding process required a more streamlined, digital-first approach.

• Complex Investment Management Processes: Handling the entire investment lifecycle was becoming increasingly complicated due to fragmented systems.

• Manual Data Tracking and Reporting: With no real-time tracking, investment data was difficult to access and organize.

To overcome these challenges, the Fund sought a comprehensive solution to consolidate its processes, enhance data visibility, and improve communication between its partner firms.

The Solution: Asset Class Fund Operating System (FOS)

The Mission Driven Bank Fund selected Asset Class’s Fund Operating System (FOS) to optimize investor relations and streamline deal & portfolio management. Asset Class’s platform integrates critical functions such as:

• Digital Onboarding: Automated onboarding processes to enhance investor experience and operational efficiency.

• Comprehensive Reporting Tools: Real-time reporting capabilities that provide investors with up-to-date information and analytics.

• Deal Flow Tracking & Due Diligence Management: Robust deal tracking features that manage the entire investment lifecycle, from initial engagement to term sheet.

• Portfolio Self-Reporting: A dedicated portal for portfolio companies to provide self-reported data, simplifying data collection and reporting.

Key Features of the Fund Operating System (FOS)

Asset Class’s Fund Operating System (FOS) includes several powerful modules tailored to meet the needs of Mission Driven Bank Fund, such as:

• Investor Fund Management (IFM): Streamlines digital onboarding, investor communications, and reporting.

• Deal & Portfolio Management (DPM): Provides tracking tools for deal flow and comprehensive due diligence management.

• CRM Integration: The system integrates with Salesforce, enabling efficient client management and investor relations.

The solution ensures that all aspects of the investment lifecycle are optimized for scalability and operational efficiency.

Client Testimonial

Craig Cimoroni, head of business development, investor relations, and marketing for the Mission Driven Bank Fund, highlighted the critical role that Asset Class played in meeting their specific requirements:

“Asset Class provided an exceptional solution that allowed the Mission Driven Bank Fund to operate efficiently across three partner firms in an easy-to-use and understandable way. Due to the Fund’s structure, customization was critical and we found their configurability was a differentiator versus other solutions in the marketplace. Importantly, their response time and service allowed us to go to market in a timely manner.”

The Role of Asset Class

Ferdi Roberts, Chief Executive Officer at Asset Class, spoke about the collaborative process of integrating the Mission Driven Bank Fund into their platform:

“We immediately recognized the opportunity to support the great work of the Mission Driven Bank Fund when we met with Craig and the team. We worked together to bring three separate firms onto a single platform, streamlining their collaboration, easing the burden of deal-flow management, and providing consolidated, real-time reporting to keep everyone in sync on the Fund OS platform.”

Roberts emphasized how the Fund OS platform is designed to meet the evolving needs of the private capital market by providing tools for investor management and deal tracking.

Key Benefits of the Fund OS Platform

The Asset Class Fund Operating System combines the IFM, DPM, and CRM modules to ensure a streamlined experience for Mission Driven Bank Fund. Some of the standout benefits include:

• End-to-End Deal Tracking: Monitoring deals from initial engagement through to term sheet, ensuring that all investment stages are optimized.

• Centralized Due Diligence: All due diligence documents are consolidated within the platform, supported by comprehensive checklists.

• Real-time Reporting: Customizable, consolidated reports give investors and stakeholders instant access to performance metrics and portfolio updates.

• Scalable, Customizable Features: As the Fund grows, the solution can be adapted to meet changing needs, including managing multiple partner firms under one unified platform.

Conclusion: Partnership for Growth

This collaboration between Asset Class and the Mission Driven Bank Fund represents a significant step forward in operational efficiency for mission-driven financial organizations. By adopting Asset Class’s Fund Operating System, the Mission Driven Bank Fund has ensured that their investors receive transparent, real-time insights, while also simplifying the fund’s entire operational workflow.

As a result, the Fund can focus on its mission of supporting underserved communities, while the Fund OS ensures that all investment-related processes are managed efficiently and with full data visibility.

About Asset Class

Founded in 2019, Asset Class is a leading provider of private capital management solutions, helping firms worldwide to streamline operations, manage investments, and enhance investor relations. Their IFM, DPM, and CRM modules are seamlessly integrated to provide a comprehensive product suite, serving firms across sectors such as private equity, venture capital, real estate, and more.

Asset Class Locations: New York, London, Dublin, and Atlanta.

About The Mission Driven Bank Fund

The Mission Driven Bank Fund invests capital in CDFIs and MDIs to close the racial wealth gap by fostering financial resiliency in communities of color. The Fund’s partners include Elizabeth Park Capital Management, Calvert Impact, Strategic Value Bank Partners, and Performance Trust.

For more information, visit: www.missiondrivenbankfund.org.

Press Contact

Sam Roberts

Asset Class

Email: press@assetclass.com