About Us

Native American Capital (NAC) is a Native American-owned consultancy located in the Washington DC Metro Area. NAC serves a wide range of Indian Country clients — tribes, Indian-owned businesses, businesses seeking partnerships with tribes, and investors seeking to capitalize Native American-owned enterprises.  NAC specializes in enterprise-level financing that brings the full range of financing strategies and structures into a bundle of services called the ‘Tribal Finance Toolkit.’  This toolkit highlights the special financing opportunities available to Native American tribes as they exercise their sovereign nation status.  NAC is led by a management team with career experience in equity and debt finance, structured financing, government, business, and strategic consulting, and business/economic development. Select an option to the left to learn more about how the NAC team can serve you.

Native American Capital (NAC) believes in creating trust with our clients. We believe that an ethical foundation is a necessary prerequisite to creating fair profit. We pledge to uphold the following values in all of our business operations:

Company Ethics

  1. 1

    We will conduct ourselves in an honest and open manner, and work diligently to keep our clients up-to-date on all important or relevant information.  We will not misrepresent ourselves to clients, and will be candid and open in our findings and reports.  We will never deliberately mislead clients by omission or commission.

  2. 2

    We understand the cultural and historical complexities of Native American business communities, and pledge to support Indian self-determination and self-governance and tribal sovereignty, and to respect tribal values.

  3. 3

    We will uphold strict confidentiality in our client relationships, recognizing the importance of preserving the value of our clients’ privacy and knowledge.

  4. 4
    Compassion and Understanding

    Our commitment to prioritizing client relationships includes being open to new ideas or specific circumstances.  We pledge to listen carefully to our clients’ needs, and to create work structures to accommodate these needs.

  5. 5
    Responsibility to Society

    We believe that in addition to earning a profit, businesses should pursue a triple bottom line strategy, seeking to maximize the following goals:

    • People:  Create jobs and transfer skills in value-added industries
    • Profit: High growth, high margins, and a strong market position
    • Planet: Environmental practices, sustainable businesses, congruous with Tribal customs and traditions

  6. 6

    We understand that decision making often involves the development of a consensus, action by tribal council, and stakeholders with different expectations and needs.  Such decisions may take time, and we are willing and able to take the time required to reach a desirable outcome.

  7. 7

    We promise to set and meet reasonable deadlines to the best of our abilities, and to bear responsibility for our portion of final results.

  8. 8
    Uncompromised Integrity

    We promise to uphold our core principles, even when they come into conflict with other pressures.  When situations arise that are not explicitly covered by our core principles, we promise to act in accordance with the moral conduct expected of a trusted consultant.


NAC is committed to actively promoting economic development in Native America communities by providing consulting services that help tribes overcome regulatory, financing, logistical, and other barriers to starting and growing successful businesses. We facilitate tribal businesses development and expansion in industries that are friendly to the environment, that create jobs, and that transfer skills to local communities.


In 2004, the principals of Support Services International, Inc. (SSI) founded NAC to more directly address the problems faced by the Native American business community. SSI is a Native American-owned consultancy that provides systems development services to federal agencies, Native American Tribes, and other organizations.

The principals of SSI realized that a more direct approach was needed to address the private equity and business challenges faced by Indian Tribes when trying to launch new businesses, form partnerships, and raise capital. The principals of SSI formed the NAC team with this purpose in mind, seeking to combine existing Native American know-how with expertise in private equity, business management and entrepreneurship, and all forms of raising capital, including venture capital. NAC began as a merchant bank and private equity firm, but the principals soon realized the need to offer a broader range of consulting services. NAC shifted its purpose to promote Native American business by connecting Tribes with potential partners, helping Tribes launch successful new ventures, and expanding existing businesses.

Since its inception in 2004, NAC has been recognized in multiple ways for its service to the Native American community. NAC has received two Native American Technical Assistance Grants from the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI). In 2009, NAC was recognized by the Native American Finance Officers Association (NAFOA) with the Deal of the Year Award.

Native American Capital and its principals have an active history as advocates for Indian country in the legislative, business, and academic spheres.  NAC believes that in order to bring about economic development in Indian country, it is essential to work for change in each of these spheres.

NAC has direct experience winning and distributing New Market Tax Credits (NMTC) to bring technology and light manufacturing jobs into Indian Country.  Most recently NAC worked alongside the Lower Brule Community Development Enterprise (LBCDE) to put $18 million to work in Mississippi and Alaska.  To read more, see the white paper below or visit this article.

NAC is actively committed to achieving results by addressing gaps that hinder progress.  Currently NAC is involved in the Department of Commerce sponsored program to identify and close communication and broadband gaps in rural Indian Country.

NAC has raised capital for Indian Country through federal housing funding, as well as corporate funding through private placement.  We have also provided technical support both to tribes and to organizations including the National Institute of Food and Nutrition (NIFA), the Department of Health and Human Services (DHHS), and the Native Museum of the American Indian (NMAI).

Community Connection

NAC actively promotes proactive and responsible nation building throughout Indian country. NAC principals are frequent presenters and contributors to the following organizations and events.

In addition to these contributions, NAC principals have pioneered causes and legislation benefiting all Indian country stakeholders, including actively promoting and influencing changes in SEC regulation.


Management Team

Joseph L. Falkson

Senior Managing Director

Mr. Falkson is a co-founder of NAC, and manages all aspects of its day-to-day operations.  Mr. Falkson leads NAC’s tribal financial services consulting; specifically, linking tribes to Federal financing programs such as the Community Development Financial Institutions Fund of the US Department of the Treasury.  He has linked several tribes to loan and loan guarantee programs at the U.S. Small Business Administration, the U.S. Department of Housing and Urban Development (HUD), and the U.S. Department of the Interior.  He regularly works with tribes and tribal consortia on major, large-scale business ventures.  Mr. Falkson established Native American Pharmaceuticals (NARx), with PharMerica as an investor and McKesson Corporation as a strategic partner. NARx served as the U.S. Indian Health Service’s prime vendor for the IHS southwest region. He also helped found – as an investor, fund raiser, and manager – four innovative health care technology companies. He served as a consultant to and board of directors’ member of PharMerica, Inc., a billion-dollar, publicly traded, institutional prescription drug distributor, acquired by Bergen Brunswig Corporation in 1999.  Mr. Falkson earned an MBA from the Wharton School of the University of Pennsylvania; a Ph.D. in political science from the University of Michigan— Ann Arbor; and a B.A. in politics from Brandeis University.

Walter Hillabrant

Managing Director

Mr. Hillabrant is an enrolled member of the Citizen Potawatomi Nation of Oklahoma. He is a co-founder of NAC, where he coordinates and networks among Federal economic development programs that target Indian Country and tribal communities. He also works with tribal government contractors and other entrepreneurial businesses in order to expand and enhance deal flow in Indian country. Mr. Hillabrant works closely with both tribal communities and Federal, state, and regional governments to create and develop innovative business opportunities in Indian Country. He has worked with tribes and tribal organizations and consortia on projects in such areas as business and economic development, development of natural resources, housing, welfare reform, health, and education. He serves on the boards of the Lower Brule Community Development Enterprise (LBCDE), District of Columbia Psychological Association (DCPA), and C-4 Recovery Solutions. Mr. Hillabrant received his B.A., M.A., and Ph.D. degrees from the University of California.

Gavin Clarkson

Managing Director

Dr. Clarkson has taken an indefinite leave of absence from Native American Capital.

Marco Rubin

Investment Advisor

Mr. Rubin advises NAC’s business and private equity consulting operations.  He is a nationally recognized venture capitalist who previously founded and managed Monumental Venture Partners, LLC (MVP), a seed and early stage venture capital firm headquartered in Virginia. Entrepreneur Magazine named MVP a Top 100 VC Firm in 2002 and 2003. Before forming MVP in 1999, Mr. Rubin launched and co-managed New Ventures, MCI’s first venture capital unit, with a portfolio returning nearly 400 percent to the company. He has also served as a management consultant with Booz, Allen & Hamilton, Inc., to  Federal and Fortune 500 clients. Mr. Rubin began his career as an engineer at the Johnson Space Center Mission Operations Directorate. He holds a B.S. in electrical engineering from the University of New Mexico and MBA from The George Washington University.


Have questions?

If you have any questions, comments, or just a general query, please use the contact form to the right to drop us a message. You can also use the contact info below to get in touch.


(703) 587-8908

11911 Freedom Drive, Suite 850, Reston, VA  20190-6243

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    11911 Freedom Drive, Suite 850, Reston, VA  20190


    (703) 587-8908