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Citi's New Impact Fund to Aid Businesses Led by Women and Minorities

Last Friday, Citi announced the Citi Impact Fund , a new initiative that uses $150 million of its own capital  to support U.S.-based companies. The Fund will represent a “double bottom line” business investment, or an investment that yields dividends while also driving change. Citi’s initiative will support companies that play a major role in addressing societal issues across four key areas : workforce development, financial systems, infrastructure, and sustainability. Companies that are advancing in the four key disciplines and that have already undergone rounds of funding can receive support from Citi for as much as $10 million. A portion of the Citi Impact Fund will be allocated for seed funding that is exclusively earmarked for companies led or owned by minorities and women , which Edward Skyler, Citi’s executive vice president of Global Affairs, describes as a “pool of often overlooked, high potential entrepreneurs.” Citi, and other companies, such as Harlem Capital, a New...

Jan 21, 2020