Billionaire philanthropist MacKenzie Scott gifts $7 million to Colorado Enterprise Fund

DENVER — Billionaire philanthropist MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, recently donated $7 million to the Colorado Enterprise Fund.

CEF, which serves business statewide, including in the Boulder Valley and Northern Colorado, was created in 1976 to expand access to financing and to offer more flexible terms to business owners than are typically available from traditional lenders. The organization, which also provides business consulting services and other resources, offers loans that range from a few thousand dollars to $1 million. 

“This generous gift is a testament to the positive impact CEF has had on small businesses across Colorado,” CEF CEO Ceyl Prinster said in a news release. “With this funding, we are further enabled to advance our mission of accelerating community prosperity by financing and supporting entrepreneurs and small businesses.”

Scott’s donation “is unrestricted, providing CEF with the flexibility to determine the best use of funds to make the most meaningful impact in the communities they serve,” the release said. 

The $7 million cash injection “comes at a moment as the organization reaches significant milestones, including surpassing $325 million in total capital dispersed (including loans, new markets tax credits, and grants),” CEF said. 

“This year has been one of tremendous growth and success for CEF and the communities we serve,” CEF chief operating officer Nim Patel said in the release. “MacKenzie Scott’s donation is a powerful affirmation of the work we do every day to support small businesses across Colorado. We are deeply grateful for this financial support and honored that our impact is being noticed.”  

This article was first published by BizWest, an independent news organization, and is published under a license agreement. © 2024 BizWest Media LLC.

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