BOSTON AND SAN FRANCISCO, April 19, 2024 – Audax Charitable Foundation (“ACF” or “the Foundation”), which directs funding to local grassroots charitable organizations in the Boston and San Francisco communities, announced today the publication of its latest annual report. In addition to providing updates on the incredible work of ACF grantees, the report also outlines the many ways in which the Foundation is providing a platform for Audax Private Equity employees and its donors to engage directly with many of the charities ACF helps support.
In the 2023 calendar year, ACF has directed funding to 16 new grant recipients. And since the fall of 2021, the Foundation, Audax Private Equity, and the ACF Donor Advised Fund have provided grants to 30 local charities and nonprofits.
“After the launch of ACF in 2021, and through the generous commitments of our partners and extended network, Audax Charitable Foundation is showing considerable momentum,” noted Pamela Martin, Senior Managing Director, Audax Private Equity. “It’s incredibly gratifying to see not only see the impact of our grants, but also forge longer and deeper relationships with the charitable organizations on the ground and in the front lines driving change across our local communities.”
The giving strategy of ACF focuses on four core areas: Education, Healthcare, Social Support & Services, and Arts & Cultural Programs. ACF’s mission is to positively impact the local communities where Audax Private Equity operates by supporting grassroots, charitable programs in the greater Boston and San Francisco metropolitan areas.
“The commitments primarily take form as $50,000 multi-year grants, but ACF also provides special one-time grants to provide a boost to smaller charities,” noted Keith Palumbo, Partner and Co-President of Audax Private Equity. “This focus on local, grassroots charities stems from our belief that it allows ACF funding to have an even bigger impact and helps position grantees to scale their platforms to reach more people and drive positive change.”
“Audax, since our founding 25 years ago, has made it a point to give back to our local communities and ACF represents the culmination of this historic commitment,” added Young Lee, Partner and Co-President of Audax Private Equity. “It’s encouraging to see the level of engagement. It starts with the selection process, in which Audax team members nominate candidates for grants and a rotating committee of employees oversees a rigorous process to handpick new recipients. But through ACF, the connectivity extends to the relationships being formed over multiple years and through direct engagement with many of our grantees, which instills a positive feedback loop that continually inspires us to try to do more.”
Last year, Audax Private Equity employees committed over 815 volunteer hours and, new last year, 10 of ACF’s current grantees participated in the firm’s Annual Service Days in Boston and San Francisco.
For more information about Audax Charitable Foundation and to access ACF’s 2023 annual report, please visit: https://www.audaxprivateequity.com/citizenship#acf-link.
Based in Boston and San Francisco, Audax Private Equity is a leading capital partner for middle and lower middle market companies that seeks to facilitate transformational growth. With approximately $19 billion of assets under management, over 250 employees, and 100-plus investment professionals, the firm has invested in more than 170 platforms and 1,250 add-on acquisitions since its founding in 1999. Through our disciplined Buy & Build approach, across six core industry verticals, Audax helps portfolio companies execute organic and inorganic growth initiatives that fuel revenue expansion, optimize operations, and significantly increase equity value. For more information, visit www.audaxprivateequity.com or follow us on LinkedIn.
