Advantage Capital Partners

Christopher Harris is a managing director at Advantage Capital, where he works within the firm's investment group on sourcing, due diligence, and valuation analysis. Before joining the firm, he worked at GE Capital as an assistant vice president in large-cap leveraged finance underwriting and investing, having entered GE through its FMP program. He holds an MBA from the Tuck School of Business at Dartmouth and a bachelor's degree in economics from Trinity College.

Cindy Colvin is a managing director at Advantage Capital, where she leads the affordable housing team. She has nearly 20 years of banking and real estate finance experience across sales and underwriting, and previously served as head of credit delivery for Truist's commercial real estate team, overseeing underwriters and portfolio managers covering private developers, REITs, affordable housing, LIHTC, and new markets tax credit organizations. She holds an MBA from the University of Georgia's Terry College of Business and a BS in finance from the University of Florida.

Damon Rawie is a managing director at Advantage Capital, where he heads the firm's equity investment operations, manages the investment group, and works as a multistage investor evaluating deals, conducting due diligence, and structuring transactions. His investment experience spans new media, business services, software, and energy technology. Before joining the firm, he worked at China International Capital Corp. in Beijing, Price Waterhouse, and J.P. Morgan Securities, and he holds an MBA from the University of Chicago and a bachelor's degree from Wesleyan University.

Franchesca (Fran) Lorio is Managing Director and Chief Financial Officer at Advantage Capital, where she leads the finance and accounting team and works on structuring financing tools such as tax-credit financing. She has more than 20 years of experience in financial leadership, including financial planning and analysis and capital structuring, and previously spent five years in public accounting focused on tax and financial accounting. She holds a Bachelor of Science in accounting from the University of Louisiana at Lafayette and completed the CFO program at Columbia Business School.

Greg Schwarztrauber is a managing director at Advantage Capital, where he leads the tax team and oversees tax strategy across the firm's investment platform, including transaction structuring, fund support, and exit planning. He has more than 30 years of income tax and accounting experience, having previously worked as senior director of tax strategy at Anheuser-Busch, head of tax at XTRA Lease, and a senior manager in KPMG's tax consulting practice. He holds an MBA from Washington University in St. Louis, an MS in taxation from the University of Illinois, and a BS in accounting from Southern Illinois University Carbondale, and is a CPA in Missouri.

Jonathan Goldstein is a managing director at Advantage Capital, where he leads the tax credit consulting team and helped establish the firm's community development advisory arm, affordable housing division, and renewable energy practice. He previously held a senior leadership role at McCormack Baron Salazar, overseeing its project finance group and founding its New Markets Tax Credit practice, and founded Sunwheel Energy Partners, focused on solar programs for low-income communities. Earlier in his career he worked as an attorney, clerked for a federal appellate judge, served as an assistant U.S. attorney, and co-founded Silicon Valley venture firm Taproot Ventures. He holds a J.D. from Washington University in St. Louis and a bachelor's degree from Yale University.

Justin Obletz is a managing director at Advantage Capital, where he manages members of the investment team, coordinates investment strategies, and works across the firm's programs to evaluate and structure transactions and monitor portfolio investments. He previously served as the firm's chief financial officer, overseeing accounting, tax, and financial planning functions. Before joining the firm, he held strategic and operational roles in the new ventures division of Trader Publishing Co. and started his career at Ernst & Young; he holds an MBA from the University of Virginia Darden School of Business and a bachelor's degree in accountancy from the University of Notre Dame, and is an inactive CPA.

Lynn Ambrosy is a managing director on the investor solutions team at Advantage Capital, where he works to expand the firm's federal low-income housing tax credit (LIHTC) and energy finance lines of business and leads the federal LIHTC syndication initiative. He also sources tax credit equity for other business lines, including state LIHTC, New Markets Tax Credits, the Rural Jobs Act, and renewable energy. Previously, he led the tax credit syndication platform at Aegon Asset Management, serving as co-head of its LIHTC platform, and has over 25 years of commercial real estate experience; he holds an MBA from the University of Iowa and a BA in finance from the University of Northern Iowa.

Michael Johnson is a managing director at Advantage Capital, where he works across the firm's operations with a focus on capital-raising transactions, regulatory compliance, and government relations. He also serves as the firm's chief compliance officer. He previously practiced securities and corporate law at the New Orleans firm Jones, Walker, Waechter, Poitevent, Carrère & Denègre, and holds a J.D. from Stanford Law School and a bachelor's degree from Harvard College.

Reid Hutchins is a managing director at Advantage Capital, where he serves on the firm's investment committee and evaluates prospective portfolio companies. Before joining the firm, he worked as a product development engineer at Advanced Micro Devices and as an engineer and manager at IBM Microelectronics, gaining experience in semiconductor design, manufacturing, testing and production. He holds a master's in engineering management and a bachelor's in electrical engineering from Dartmouth College, and a bachelor's in physics from St. Lawrence University.

Ryan Dressler is a managing director on the legislative team at Advantage Capital, with over 15 years of experience in tax, finance, economic development, and early-stage capital formation policy. He has led advocacy efforts across the country and also oversees the firm's talent and HR functions, including talent strategy and internal operations. Before joining the firm, he was director of new site development for a national nonprofit leadership organization. He holds a business administration degree from Ohio State University's Fisher College of Business and has completed executive education at the University of Richmond and University of Oxford.

Sandra M. Moore is a managing director and chief impact officer at Advantage Capital, where she sits on the investment committee, advises the diligence and structuring teams, and helps lead capital markets fundraising, impact, and marketing/communications work. Before Advantage Capital, she was president of Urban Strategies, a nonprofit focused on rebuilding distressed urban communities through mixed-finance housing, and previously served as CEO of the Missouri Family Investment Trust, senior vice president of St. Louis 2004 Inc., director of the Missouri Department of Labor and Industrial Relations, and an administrative judge with the U.S. EEOC. She holds a J.D. and a bachelor's degree in urban studies from Washington University in St. Louis.

Scott Murphy is a managing director and chief investment officer at Advantage Capital, where he oversees the firm's entire portfolio. He previously worked at the firm from 2001 to 2009 managing its $88 million New York portfolio, and served in the United States Congress representing New York from 2009 to 2011. Earlier in his career he co-founded three high-tech companies, worked as a structured finance associate at Bankers Trust focused on the insurance industry, and served in the administrations of two Missouri governors.

Steven Lichtin is a managing director at Advantage Capital and CEO of Advantage Renewables, where he oversees the strategy and growth of the firm's renewable energy development platform. He has nearly 15 years of experience in solar and energy storage development across U.S. markets, having previously served as vice president of development at Cypress Creek Renewables and director of development at esVolta. He holds a master's degree in business and sustainability from Bard College and a Bachelor of Arts in economics from Vanderbilt University.

Talmadge Singer is a managing director at Advantage Capital, where his work centers on raising capital and structuring tax credit equity-incentivized funds, having closed levered and unlevered funds totaling more than $1.5 billion and syndicated over $1.45 billion in state and federal tax credits. He also supports the firm's national expansion and federal government relations. Before Advantage Capital, he was an associate in the corporate and securities practice group at Thompson & Knight LLP, focusing on fund formation, securities law, and M&A. He holds a J.D. from Southern Methodist University's Dedman School of Law and a bachelor's degree in English from Louisiana State University.

Tom Bitting is a managing director and founding member of the energy finance team at Advantage Capital, where he oversees the group's investment activity with a focus on tax credit finance structures for clean and resilient energy solutions such as solar, storage, geothermal, nuclear and advanced manufacturing. Before Advantage Capital, he was a credit officer in the commercial lending division of Pulaski Bank, working on investment risk, credit approvals and portfolio oversight. He holds an MBA from Saint Louis University and a bachelor's degree in accounting from Bucknell University.

Tony Toups is a managing director on the legislative team at Advantage Capital, where he works to establish and sustain public-private state policies aimed at expanding access to capital for businesses in rural and low-income communities, primarily in the Southeast. Before joining the firm, he practiced law as a partner at Adams and Reese and at Chaffe McCall in New Orleans, and is licensed in Louisiana and admitted to the bars of the U.S. Supreme Court and U.S. Tax Court. He holds a J.D. from the Paul M. Hebert Law Center and a B.A. in journalism from the Manship School of Journalism at Louisiana State University.

Betsy Avila is an Accounting Manager at Advantage Capital with over 15 years of experience in financial reporting, treasury management, and operational oversight. She has contributed to the closing of more than $250 million in portfolio investments and has experience managing complex financial transactions. Avila focuses on process improvement, team development, and supporting sound financial decision-making.

Kourtney Baker is a Sales Support Associate at Advantage Capital who works on financing projects and companies in minority communities. She holds a Master's degree in Higher Education Administration with a minor in Women, Gender, & Sexuality Studies from Louisiana State University and a Bachelor's degree in Gender and Sexuality Studies from Loyola University, New Orleans. Baker has over ten years of experience in advocacy and community work with organizations including the Human Rights Campaign, PFLAG, and the National Suicide Prevention Lifeline, and currently serves as a board member of The New Orleans Pride Center.

Mac Barnes is an incoming data analyst at Advantage Capital and a Washington University in St. Louis student expected to graduate in 2026. He holds positions as a student analyst and leadership team member at the Skandalaris Center for Interdisciplinary Innovation & Entrepreneurship, and brings experience in venture capital, private credit, AI research, and entrepreneurship alongside visual arts practice.

Nick Barbknecht is Senior Vice President at Advantage Capital, where he oversees community relations for energy development and supports the firm's work across the United States. He previously served as Chief Marketing Officer at the America First Policy Institute and held positions in project development, policy advancement, and external affairs across the White House Office of Intergovernmental Affairs, U.S. Department of Homeland Security, and Indiana state agencies. Barbknecht holds a bachelor's degree in accounting from Manchester University and an MBA from Purdue University.

Steven Stull is the president and founder of Advantage Capital, where he serves as chief executive officer and directs investment policy, operations, strategic planning, fundraising, investor relations, and recruitment. Before founding the firm, he spent nine years in the investment department of General American Life Insurance Co., heading its securities division and managing real estate finance and public and private securities portfolios. He holds an MBA and a bachelor's degree in finance and economics from Washington University in St. Louis, is a CFA charterholder, and has earned the Fellow, Life Management Institute master designation.

Will Arquiett is an Analyst at Advantage Capital, a Portsmouth, New Hampshire-based provider of growth capital to lower middle market businesses. The firm offers term loans at various levels and minority equity investments, typically ranging from $1 million to $10 million.