Who We Are

Flex Fund Background

The Flexible Capital Fund, L3C (Flex Fund) is a low profit, limited liability company launched in 2011. Managed by the Vermont Sustainable Jobs Fund, the Flex Fund is supported by 38 investor members committed to helping small and innovative growth-stage companies in the green economy stay and grow in Vermont.

The Flex Fund recognizes that companies in rural areas, like Vermont, tend to be smaller and work on a less than global scale. These rural companies may need a form of “equity” to fuel growth but need it in lesser amounts and perhaps at lower returns than traditional venture capital requires. The Flex Fund offers Vermont financing which balances equity features and returns with the realities of Vermont’s small business environment.

Technical assistance, mentoring, and access to networks go hand in hand with flexible risk capital to meet Vermont early and growth stage companies’ needs. The Flex Fund offers access to the CEO advisory services and a breadth of other business and leadership networks essential to the sustainable growth of a business.


The Flex Fund’s mission is to invest in growing Vermont companies that fill a gap, or strengthen the supply chain in sustainable agriculture and food systems, forest products, renewable energy, clean technology, and other natural resource sectors. By helping our portfolio companies grow their businesses, we accelerate the rate at which Vermont, and the region, moves towards healthy food systems, renewable energy, and climate change solutions, while preserving Vermont’s working landscapes and building resilient communities.

The Team

Janice St. Onge, President of the Flexible Capital Fund, L3C.


Janice St. Onge is President of the Flexible Capital Fund, L3C (“Flex Fund”), a mission based investment fund providing flexible risk capital to Vermont’s food system, forestry and clean technology businesses.

As President of the Flex Fund, Janice manages all facets of the Fund’s operations, including raising capital, deal flow, due diligence, and portfolio / financial management. Janice brings economic and business development as well as financial expertise to the organization, having served in the technology, financial services, higher education and state government sectors during her 25+ year career.

Previously, Janice served as Director of the Vermont Business Center (now the Center for Innovation & Leadership) at the University of Vermont and was the Technology Business Development Director for Vermont’s Department of Economic Development. She received the 2001 National Tibbetts Award in recognition for her outreach work with the Small Business Innovation Research program in Vermont. As Assistant Vice President at Peoples Bank, she originated and managed a $21 million commercial loan portfolio. Janice is a graduate of the University of Utah with a B.A. in Marketing and is an alumnus of the Snelling Center for Government’s Vermont Leadership Institute.

Janice is a 2018-19 Fellow of the RSF Social Finance’s Integrated Capital Institute. She recently helped launch the Vermont Women’s Investors Network, and serves on the Vermont Small Business Development Center Advisory Board and the Clean Energy Development Fund Board. She is a founding member of Slow Money Vermont’s Organizing Committee. A Stowe, Vermont resident, Janice was co-founder of the Stowe Energy and Climate Action Network and is a former International Ski Federation (FIS) World Cup Freestyle Skiing Judge.

Flexible Capital Fund Board of Managers (not pictured Christine Donovan)

Board of Managers

The Flex Fund Board of Managers provide industry expertise, in and out-of-state networks, and an understanding of the challenges and opportunities Flex Fund companies face in growing their business in Vermont. They also have a deep understanding of and passion for our mission and work.

Investment Committee

The Flex Fund’s Investment Committee members bring lending, equity investment and financial expertise to the table. The committee is responsible for making recommendations to the Flex Fund Board of Managers for loan investment approvals.