Reflecting on 2024 at Maycomb Capital
As one often does at this time of year, I’ve been reflecting on 2024 at Maycomb. There’s a lot to be proud of.
Since we began, we’ve put $96M to work in communities across the U.S. And we’re seeing real, tangible results across many of our projects. In rural OK, for example, our financing enabled increased access to healthcare services for over 1,600 low-income individuals and the enrollment of hundreds in Medicaid. Another of our financed projects, the Center for Urban Education in CO, received a Promising Practice Award from the American Association of Colleges for Teacher Education for its incredible work to train paraprofessionals to become full-time teachers. And, across our education portfolio, our loans supported organizations that delivered high-quality instructional materials to nearly 7.9M K-12 students — which comprises approximately 14% of all students across the U.S.
In 2024, we raised $67M to further our strategy to provide flexible, mission-aligned debt to communities. These new resources enable us to continue lending to high-performing service providers — whether for- or non-profit. Our capital helps them scale programs that work and leverage sustainable, outcomes-aligned funding to expand access to economic opportunity.
More broadly, we’re seeing growing momentum across the country around aligning public funding with outcomes. Last year, for example, the federal government appropriated $99M to improve health in communities, where funding is paid based on results — whether improved birth outcomes, decreased opioid emergencies, or reduced cardiac incidents.* At the state level, in TX, there is $250M in financial incentives for school districts that implement evidence-based instruction.** Our capital is helping a best-in-class math curriculum provider work with districts to take advantage of this funding opportunity. And across the country, smart social entrepreneurs are reimagining how to use existing funding streams to drive better results, like our borrower in CO that is tapping into Medicaid funding to expand access to telehealth therapy for low-income children.
Finally, we are continuing to build an institutional-quality impact investment firm. We are both expanding our flagship strategies to generate impact in underserved communities and structuring custom investment strategies to move the needle in specific geographies, target particular sectors or populations. Our team of 14 individuals (and counting) bring creativity, rigor, private and public sector experience, and a shared commitment to the impact of our work.
I am energized and grateful for what we accomplished together in 2024 and excited by the path ahead.
Onward,
Andi Phillips
Founder & Managing Partner at Maycomb Capital
* The National Institutes of Health appropriated $99M for regionally focused outcomes-based funding through the Advanced Research Projects Agency for Health (ARPA-H) Health Care Rewards to Achieve Improved Outcomes (HEROES) HEROES program.
** Through the passage of House Bill 1605, The State of Texas allotted incentive payments up to $40 per student, totaling over $250M for public schools that adopt high-quality instructional materials from providers approved by the State Board of Education.
