Investor Profile: Vasana Ly
An Introduction to ICA and Vasana Ly’s Journey
ICA is a unique venture fund focused on fostering community development. Can you tell us a bit about how it operates?
ICA is certified as a Community Development Financial Institution (CDFI) by the U.S. Treasury. Unlike many CDFIs, which primarily offer debt financing, ICA provides venture capital, focusing on supporting early-stage businesses founded by women, low-income individuals, and minority entrepreneurs. ICA began as a coaching organization, eventually evolving to offer accelerators and venture investment.
What brought you into this line of work?
My journey is a personal one. I come from a family of immigrants who turned to entrepreneurship as a necessity, creating businesses to support each other and the community. Now, I find myself helping entrepreneurs with similar stories, offering them the support to succeed in ways my family could have benefited from. It’s a full-circle moment for me.
Investment Approach and Values
What is ICA’s investment thesis?
ICA is centered on advancing small businesses, focusing on founders from underrepresented backgrounds. We see many food companies and consumer goods products (CPGs), particularly those with scalable and community-oriented models. Our goal is to empower founders who are often excluded from traditional venture capital, creating opportunities that drive local economies.
What excites you about investing in a new company?
Seeing founders pursue their dreams is what drives me. I’m especially inspired when I encounter founders who create businesses that serve community needs, often born from personal experience or cultural context. Their resilience and vision make my work deeply meaningful.
What do you look for in a startup founder?
I look for clarity and strategic thinking. A founder who understands their current challenges and how capital can address those is likely to succeed. Misdiagnosing problems or overestimating the power of funding can derail progress. I seek founders who see the right path forward and align their capital needs with that path.
What challenges do founders face most often?
A significant challenge is shifting from a hands-on role to a more strategic leadership position. Many entrepreneurs are highly involved in day-to-day operations, and it’s tough to pivot to a broader management role. We help founders develop the skills to step back and view their business from a higher level.
Supporting Entrepreneurs Beyond Capital
How does ICA support entrepreneurs beyond just funding?
We offer a full ecosystem, from community events to formal coaching and accelerator programs. Through peer learning and one-on-one coaching, we connect founders with resources and insights tailored to their unique challenges. Post-investment, we stay actively involved, collecting financials and providing continued guidance to maximize our entrepreneurs’ success.
What is ICA’s vision for community impact?
Our end goal is not only to support individual businesses but to foster regenerative, inclusive economies. We focus on job creation, diversity, and fair wages, incentivizing founders to create valuable roles within their communities. Our impact goes beyond the entrepreneurs themselves, reaching into the lives of their employees and the broader economy.
How can founders get involved with ICA?
Generally, we invest in founders who have completed our programs. We post applications for our incubator lab and accelerator program early in the year, accessible through our website and social media. We’re always open to connecting with entrepreneurs who align with our mission of supporting women, low-income, and minority founders.
Is there a fee for joining the programs?
Our Lab program has no fee. For the Accelerator, we take a 1% ownership stake, allowing us to support participants without upfront costs.
How can interested founders or partners reach you?
Our website has contact information for all our team members, and we encourage potential partners to reach out, especially if they resonate with our mission to build inclusive economies.
