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First Nations Buys Able Card Corporation

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  • First Nations Buys Able Card Corporation

    Native American
    San Diego, California (ICC)

    First Nations Capital Partners (FNCP) announced recently its first acquisition: Able Card Corporation, a maker of plastic cards in Duarte, Calif. The deal will keep Able Card Corp. at its facility near Los Angeles, preserve jobs for over 50 Latino and Asian employees, and enable expansion and entry into new markets. Terms were not disclosed.

    FNCP – the first inter-tribally controlled private equity fund in the U.S. – invests in profitable companies with experienced management and niche markets. Investors include the Wells Fargo Community Development Corporation (CDC), the Colusa Indian Community and the Rincon Band of Luiseno Indians, and private individuals. The majority of the investors’ capital contributors are Indian tribes and Tribal enterprises that want to diversify their investment portfolios.

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