March 6, 2023
This Women’s History Month, we celebrate the countless contributions women have made to society, throughout history and today. Here at Advantage Capital, there are many women who are making great strides and shaping the company, our mission and the way we do business. So, we want to shine a light on the fantastic work of a few women within the firm, their careers, and some of their insights.
Fran Lorio
Since 2002, Fran Lorio has been a key team member of the Advantage Capital accounting team. During her tenure, she has watched the firm grow from a team of 30 to now nearly 150.
“It’s really incredible to see how the firm has grown. Advantage never fails to seize or even invent an opportunity, which is something I get super energized by. I can remember the first NMTC deal when Michel Johnson was drawing flow charts on a giant notepad to show the credit structure. It’s crazy to think that at the time, it was a new opportunity and now it’s a main lifeline of our business,” said Fran.
In addition to watching the firm grow in size and operations, Fran has achieved significant accomplishments herself, while contributing greatly to the firm’s overall success.
“It seems astonishing to say that April will mark 21 years. When I started as a staff accountant, I didn’t know where the opportunity would take me long term, but as fate would have it, I am now the controller. I am proof that you can grow with Advantage Capital,” added Fran.
Fran also noted her continued excitement to see how the firm will grow both in the near and long-term future—remaining energized by the entrepreneurial spirit, dedication and camaraderie of the team around her.
Anne Johnson
Anne Johnson joined Advantage Capital four years ago to help our LIHTC team place its rapidly expanding amount of low-income housing tax credits and has since expanded her fundraising efforts across all aspects of the firm, helping to raise record numbers for the solar team last year. After a nearly 20-year career on Wall Street, she was drawn to the firm because of our people and the purpose behind our investment strategy.
“What we do here at Advantage Capital is the first time I can see that what I do has a positive impact on people’s lives. Whether it is finding investors to develop LIHTC, investing in small and minority-owned businesses, businesses that simply can’t get money, or financing solar projects like the one we are doing in Puerto Rico — what we do is special to me. I love taking a step back and seeing all the spokes that keep the wheel turning to keep the firm running successfully.”
Before joining the firm, Anne held roles that shaped her into the finance and fundraising mogul she is today. She started off in investment banking before moving to the stock market where she covered oil field services stocks. After completing her MBA while working at Deloitte, she hit her stride working in institutional equity sales where her experience as an analyst set her apart from the rest. Now, as a senior member of the Advantage Capital team, she says she really enjoys watching new analysts come on and knock it out of the park. She also looks forward to ushering in — and being an example to — new women at the firm.
“My advice to someone entering Advantage Capital or finance is to listen to the questions that are being asked by senior management, especially on the investment committee. You will learn a ton. Get yourself in the mix, show up, be present, and listen.”
Beth Fore
Beth Fore has always been a numbers person, which is what initially brought her into the world of finance. She started her career as an underwriter in commercial loans for a financial automotive bank before joining the team at U.S. Bank Community Development Corp. where she entered into the world of New Markets Tax Credits. While at the bank, she wrote compliance reporting and built financial models that they still use today. But she wanted to broaden her responsibilities and grow her skill set, which brought her to Advantage Capital.
“I first came to Advantage Capital seven years ago to be an NMTC asset manager with Partner Services. Now I am managing the loan fund team and have learned so much from understanding complex fund structures to engaging with and managing client relationships, broadening my business development skills, and leading the exit process. I encourage anyone new to Advantage not to limit themselves to their hired role and dream big.”
While Beth’s primary hat at the firm is her work with Partner Services, she’s also involved in a number of philanthropic projects in the St. Louis office. She plays a prominent role in organizing the team’s civic engagement fundraising, and every year she organizes a toy drive for the local non-profit Sweet Celebrations, of which she is also a board member.
“One of the things I most love about Advantage Capital is the idea that we are helping people. From our double bottom line investment strategy that provides financing to the most distressed communities across the country, to the support I receive to pursue my passion for non-profit work.”
Marjorie Reed
Marjorie Reed is a powerhouse, navigating the worlds of both business and politics. As an associate on the InState team, she works with portfolio companies to help them navigate government bureaucracy. She also enjoys working with the LIHTC team supporting advocacy efforts for the program.
“I really enjoy what I do. InState works with GovTech businesses of all sizes to help them grow. Whether it is through equity as a service or direct investment we are there beside our portfolio companies helping them stride toward success.”
Working to provide better access to government services is a large part of what InState does. Oftentimes, businesses have trouble getting a seat at the table and gaining the ear of decision-makers. But through the work the team does, they are opening the doors of communication and changing the way government meets the needs of its citizens.
“Working with GovTech startups is incredibly rewarding. Covid really increased the need for digitized government services and the work our portfolio companies do helps bridge that gap and keep citizens connected.”
