SuperCrowdSuperCrowd
A collaboration of The Super Crowd, Inc., a public benefit corporation, and the National Coalition for Community Capital (NC3)NC3 — National Coalition for Community Capital
SuperCrowd × NC3

Community capital, powered by the crowd

Diversified Community Investment Funds let a community raise money from its own people and invest it in local real estate and local businesses. NC3 helps communities launch them. SuperCrowd trains the investors and founders who make them work.

Starting a fund in your community? Start with NC3 ↓

What is a Diversified Community Investment Fund?

A DCIF is a community-scale fund, typically $5 to $15 million, that pools money from local investors and puts it to work close to home. NC3 developed the model with attorney Brian Beckon of Pathlight Law, building on Michael Shuman's decades of work on local investing.

01 · RAISED FROM THE COMMUNITY

Anyone can invest, not just the wealthy

Under Regulation Crowdfunding a DCIF can raise up to $5 million from anyone in the community, accredited or not. A state-registered direct public offering or Regulation A (up to $75 million) are options too.

02 · INVESTED CLOSE TO HOME

At least 60% in local real estate

Housing, storefronts, farms, historic downtowns, any kind of real estate. Keeping real estate and other non-securities at 60% or more of assets is the compliance strategy that keeps the fund outside the Investment Company Act.

03 · UP TO 40% IN LOCAL BUSINESSES

Loans, equity, or revenue sharing

The balance can back local companies and community projects, including businesses that go on to raise more from the crowd under Reg CF. That is where a fund's impact multiplies.

04 · BUILT FOR NEIGHBORS

Profits come back to the community

A DCIF can earn income, distribute profits to its community investors, and redeem shares, so ordinary people build wealth alongside the place they live.

Rhode Island's Local Return fund, the nation's first DCIF, launched in 2024 with a $3.5 million target after going through NC3's Community Capital Accelerator.

Go deeper: NC3's DCIF overview and DCIF FAQ (PDFs) · Community investment fund structures · Brian Beckon, Pathlight Law · Michael Shuman's Main Street Journal · NC3's Chris Miller explains DCIFs on Superpowers for Good

How a fund and the crowd work together

The fund is the first check. The crowd is the multiplier. SuperCrowd equips both sides.

1

A community launches a DCIF

NC3's Accelerator takes it from idea to launch, in as little as 120 days.

NC3
2

Neighbors invest in the fund

Under Reg CF, a direct public offering, or Reg A. Everyone can take part.

NC3 · SuperCrowd
3

The fund invests locally

Real estate first, local businesses alongside, often before those businesses go to the crowd.

The fund
4

Portfolio companies raise from the crowd

A Reg CF raise multiplies the fund's capital and spreads ownership. SuperCrowd trains the founders.

SuperCrowd
5

The community invests again

Community investors evaluate and back those raises with confidence. SuperCrowd equips them.

SuperCrowd

Money stays local. Ownership spreads. The fund's impact multiplies.

For community investors

When a DCIF backs a local company and that company opens a Reg CF raise, you can invest directly, alongside the fund.

These are the tools SuperCrowd built so everyday investors can do that well: learn the rules, read the filings, run the diligence, and follow the market.

SuperCrowd CoursesTwo video courses built on Devin's books — one for impact investors, one for founders raising capital. Lesson 1 of each is free; every lesson for Impact Members.Start with How to Make Money with Impact Crowdfunding. Lesson one is free. Impact OpportunitiesThis week's vetted impact investment opportunities — from the Superpowers for Good newsletter.See what vetted impact raises look like every week, and spot the ones aligned with your community's fund. SuperCrowd Investment DirectoryEvery Reg CF impact offering we track — diligence reports included, fully searchable. $12 day pass · free for Impact Members — membership starts with 30 days free.Look up any Reg CF impact offering, diligence report included, before you invest. SuperImpactScore.aiFresh AI due diligence on any one Reg-CF offering, in minutes.Run AI due diligence on the exact offering your DCIF is backing. Reg CF FilingsEvery SEC Form C filing — pulled from EDGAR daily, cleaned and browsable on the Impact Newsroom.Read the SEC Form C behind any raise, including a fund's own Reg CF offering. SuperCrowd Impact LeagueThe gamified home of impact investors — points, badges, standings.Track your investing alongside the rest of the SuperCrowd. SuperCrowd EventsSuperCrowd26, monthly SuperCrowdHours, quarterly Live Pitches — where the community gathers.Free monthly SuperCrowdHours and quarterly Live Pitches, where founders present to the crowd. Impact NewsroomCurated Reg-CF news and SEC filings, refreshed daily.Daily Reg CF news and filings, so you know the market your fund operates in.
Impact Membership opens the whole toolkit, 30 days free → Investing in any offering involves risk, including the loss of your entire investment. Learn the rules before you invest.

For founders raising from the crowd

A DCIF can be your first check. A Reg CF raise brings your customers and neighbors in as owners.

No one provides more training and support for founders using Reg CF than SuperCrowd. These are the doors, from a $99 Fit Check to a full campaign review.

Not sure where to start? Book a $99 Fit Check → Wondering whether a community fund is forming near you? Ask NC3 at info@nc3now.org.

What's next at SuperCrowd

Live from the SuperCrowd calendar and course catalog, so this page is always current.

NC3 — National Coalition for Community Capital

Starting a fund in your community? Start with NC3.

NC3's Community Capital Accelerator takes a community from idea to launch, in as little as 120 days and for under $10,000 before legal fees. NC3 acts as your project manager and connects you to experienced practitioners at every step:

DiscoveryCommunity engagementProject focusTeam buildingFund compliance strategyCapital raising & management
Once your fund is forming, bring in SuperCrowd. We teach your community how to evaluate and make investments and your portfolio founders how to raise from the crowd, on a SuperCrowdHour or in a session built for your community. Write devin@thesupercrowd.com.

SuperCrowd and NC3, already working together

"We've got to be as collaborative as possible."

— Michael H. Shuman, on Superpowers for Good

Devin Thorpe Meet your host, Devin Thorpe

Our mission: empower 100 million people to invest in social impact and support diverse founders.

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