Managed by JPMorgan H&Q, the Bay Area Equity Fund is a $75 million venture capital fund. As a DBL private equity fund, it seeks to deliver market-rate venture capital returns while enabling social and environmental improvement in the Bay Area's low to middle income neighborhoods. The fund invests in rapidly growing companies that are located (or are planning to locate) in target neighborhoods and can generate high quality jobs and wealth for residents in these communities. Investments focus on rapidly growing technology, consumer products and services, and health care companies that provide benefits to residents of target neighborhoods. Since its close in June 2004, the fund has been helping its portfolio companies to encourage connections to the communities from their early stages.