Anthony Williams

Anthony L. Williams is Executive Vice President and Chief Investment Officer at MMG Capital Group, a Baltimore-based manager of economic-development and private-equity funds. MMG says Williams has more than 30 years of experience in public and private financing, with emphasis on small and minority business development, venture capital, and private equity investing.

Williams has been with MMG since 1998 and has 20 years of experience working with the Maryland Small Business Development Financing Authority. As CIO, he is responsible for portfolio-company investing, financial planning and analysis, underwriting, structuring, closing, syndications, and monitoring of portfolio-company investments.

MMG, formerly Meridian Management Group, was founded in 1995 and manages funds under the Maryland Department of Commerce, including the Maryland Small Business Development Financing Authority and the Maryland Casino Business Investment Fund. MSBDFA was created in 1978 to promote businesses owned by economically or socially disadvantaged entrepreneurs, and its remit later expanded to small businesses that cannot obtain adequate financing through normal channels.

Williams is a licensed attorney. He earned a law degree and a master's degree in public administration from the University of Southern California, and a bachelor's degree in economics from the University of California at Irvine.

• MMG's equity product is aimed at "early-stage companies that have high growth potential." The firm says it co-invests with other investors and is "not typically the lead investor in any round of financing."
• MMG uses preferred stock, convertible notes, SAFEs, warrants, and other equity-featured instruments; it says terms are generally consistent with other investors in the round.
• MMG anticipates exits within 3 to 7 years and expects a 2x or greater return on investment, while considering investments case by case.
• MSBDFA's Equity Participation Investment Program supports socially and economically disadvantaged entrepreneurs and small businesses that cannot access adequate financing through traditional channels.
• SSBCI capital through MSBDFA supports small and SEDI-owned businesses through subordinated term loans, lines of credit, demand loans, letters of credit, and equity investments.
• Eligible uses include working capital, equipment, supplies, owner-occupied real estate, acquisitions, leasehold improvements, professional/technical assistance, and qualifying refinancing.
• MMG emphasizes impact investing: it says it invests in diverse leadership, supports entrepreneurs lacking adequate capital, and aims to generate positive community impact along with financial returns.
• For SSBCI funding, applicants need private funding from banks, insurers, investors, owners, or other sources equal to or greater than the SSBCI amount requested.