Citi has announced the launch of the $150 million Citi Impact Fund.
Cit says the fund will use the bank’s own capital and make equity investments in private sector companies that have a positive impact on society. The fund will address four societal challenges:
- Workforce Development – solutions that train and connect people to careers.
- Financial Capability – solutions that increase access to the financial system.
- Physical & Social Infrastructure – solutions that improve an individual’s way of life through housing, healthcare and transportation.
- Sustainability – solutions that address issues related to energy, water and sustainable production.
This is the largest fund of its kind to be launched by a bank using its own capital.