MentorWorks Partners with Impact Investors to Fund ISAs

MentorWorks aims to make higher education and technical training more accessible through income share agreements (ISAs). In partnership with different universities and community colleges, MentorWorks provides both income-share based education financing and career mentorship, the first platform to do so. In addition to expanding access to higher education, MentorWorks models inclusive ownership. 50% of the business is owned by people of color, and employees have equity in the company.

In 2020, BII invested in MentorWorks through a special funding vehicle (SPV), along with ECMC Foundation, enabling Mentorworks to fund the higher education of students, primarily of color, who are attending community colleges or enrolled in technical training programs in Boston.

Learn more about MentorWorks

BII Seeks Interns for Spring 2021

Boston Impact Initiative is looking for an Impact Investment Intern and a Marketing Intern for 8 to 10 hours per week during Spring Semester 2021.  This is a remote and unpaid internship, but we can provide support needed to get school credit and/or funding.

Deadline for applications for Spring is Jan 1st. Email jobs@bostonimpact.com with a resume and brief cover letter. Please note the internship that you are applying for in the subject line of the email.

Please scroll down for internship descriptions.

Impact Investment Intern

Responsibilities

The Impact Investment Intern plays a significant role in BII’s integrated capital strategy. The primary responsibilities include working together with the Impact Investment Associate and Directors in analyzing prospective investments and providing on-going support to existing portfolio companies. 

  • Maintain a thorough understanding of the investment thesis and mission of BII
  • Investment Analysis: Financial modeling, valuation, industry or asset class research, and general investment diligence
  • Portfolio Analysis: Support the Staff in performing analysis on existing investments, frequently with the intent of communicating conclusions and recommendations to the Staff or the Investment Committee
  • Administration: Maintenance of BII’s electronic files, operating / investment reports, and other reporting
  • Miscellaneous: Perform any such duty as necessary to support BII’s impact and financial processes.

Qualifications 

  • Must be enrolled in an undergraduate or graduate degree program
  • Demonstrated interest in and understanding of economic justice, sustainability, and/or related topics
  • Excellent skills in quantitative analysis, problem solving and general critical thinking
  • Strong written and verbal communication skills
  • Resourceful, proactive, able to prioritize and navigate in a fast-paced team-oriented environment
  • Ability to manage multiple tasks and to meet deadlines 
  • Excellent organization, attention to detail and follow-through
  • Unquestioned ability to handle confidential information in a professional manner 
  • Possess analytical skills and an interest in financial markets, public policy and social and environmental issues
  • Proficiency with MS Office (Excel, Word, PowerPoint)
  • Knowledge of investment assets and markets. Knowledge of analytical methods for determining fair value and an investment’s merits. Knowledge of investment implementation methods and typical fund terms in both public and private asset classes

Marketing Intern

Responsibilities

The Marketing Intern plays a significant role in BII’s communications and social media strategy. The primary responsibilities include working with the Impact Director to manage communications materials and social media channels. 

  • Maintain a thorough understanding of the investment thesis and mission of BII
  • Create communications collateral and write content for each new investment.
  • Curate content for social media channels (Twitter, Instagram, Facebook, LinkedIn), including portfolio updates, thought-leadership content, and other information. 
  • Meet goals of organically growing followers across all social media platforms.
  • Miscellaneous: Perform any such duty as necessary to support BII’s impact and marketing processes.

Qualifications 

  • Must be enrolled in an undergraduate or graduate degree program
  • Demonstrated interest in and understanding of economic justice, sustainability, and/or related topics
  • Excellent written and verbal communication skills
  • Familiarity with the use of social media in broader communication strategy
  • Resourceful, proactive, able to prioritize and navigate in a fast-paced team-oriented environment
  • Ability to manage multiple tasks and to meet deadlines 
  • Excellent organization, attention to detail and follow-through
  • Unquestioned ability to handle confidential information in a professional manner 
  • General understanding of investment principles, impact investing, small business, social entrepreneurship, and/or other related topics. 
  • Proficiency with MS Office (Excel, Word, PowerPoint)

Valley Home Insulation Receives Investment to Expand During Pandemic

Valley Home Insulation is a Latinx-owned company that offers residential insulation and weatherization services in Lawrence and the surrounding Merrimack Valley. Following the 2018 gas explosions, Columbia Gas offered 100% reimbursement for insulation and weatherization services on all homes it serves in the Merrimack Valley through the end of 2020. VHI leverages cultural competency and community presence to provide these services to low- and moderate-income residents of this region.

In 2020, BII provided VHI with a term loan, enabling them to expand their business and purchase an additional truck. BII’s loan also helped VHI hire a second crew of three workers at a living wage.

Learn more about VHI

BII Businesses You Should Buy From

Holiday season is nearly upon us. Here’s how you can support local businesses and give your loved
ones something delicious or delightful to pull them out of the pandemic blues.

50 Kitchen is an American Southern fusion restaurant in Fields Corner, Dorchester. With tasty menu items like Shrimp & Grits, Smoked Brisket Bahn Mi, and Spicy Bang Bang Cauliflower, once you try it, you’ll be back for more! Order for pick up here, or you can dine-in for the full experience. (IG @chef_50)

88 Acres makes delicious bars, butters, ‘nola, and salad dressings from nutrient-rich sunflower, pumpkin, and watermelon seeds. You can buy their products from their online store and Whole Foods, Target, and other grocery stores. (IG @88acres)

Delectable Desires Pastries makes beautiful custom cakes for special occasions and delicious pies and baked good for the holidays! Located in West Roxbury. Call ahead to order today (617) 678-6001 (IG @delectabledesirespastries)

Done Good is the one-stop-shop for buying sustainable and ethically made products. You can find clothes and accessories, home décor, selfcare items, and outdoor goods from thousands of brands. You can even filter by your values, like Made in USA, Women/POC-owned, and Recycled/Upcycled. Get ADD’L $20 off $100+ purchase w/ code: BostonImpact20 until 12/31/20!  (IG @donegoodteam)

Fresh Food Generation is a farm-to-plate caterer, food truck and café that serves up healthy Caribbean-inspired cuisine. Order catering for your next socially distanced backyard gathering or visit the truck when it is out and about in Boston. (IG @freshfoodgeneration)

Math Talk CEO, Omo Moses, wrote a sweet educational children’s book called Sometimes We Do, illustrated by Diego Chaves. It models ways for fathers to teach math to their small children in everyday interactions. It’s written for Pre-K and K children and you can purchase it for little ones in your life on the Tumblehome Publishers website, it’s also available at Target and Amazon.

Sweet Teez Bakery is a nut-free baker that makes gorgeous cakes and cupcakes with your logo in edible frosting! They are also known for their special Jamaican Rum Cake. See all their offerings and order online or fill out this form for a special occasion order. (IG @sweetteezbakery)

Capital Good Fund Partners with BII to Bring Immigration Loans to MA

Capital Good Fund is a Community Development Financial Institution that offers small loans and personal financial coaching to low-to-moderate income families. Their loans help people with less-than-perfect credit with a variety of expenses like medical bills, car purchases, immigration fees, and even unexpected emergencies, all at rates much lower than offered by payday lenders. In November, BII closed debt and grant investments with Capital Good Fund.

With BII’s funding, Capital Good Fund is introducing their immigration loan product to MA, helping people affordably cover the costs of immigration application! BII provided a grant so that the loans can be offered at a lower rate in our state. Additionally, we are supporting their DoubleGreen Loan product, an interest free loan that helps homeowners become more energy efficient.

Learn more about CGF

Henry Noël Jr Joins BII as Investment Director

Henry Noël Jr describes himself as a passionate champion of rigorous investment analysis coupled with purposeful attention to measurable, social and environmental impact. He has over 20 years of experience evaluating investment opportunities, structuring securities, raising capital and financing business growth. As a manager with experience in investment management and strategic corporate consultancy, Henry brings tremendous insight and value to clients ranging from early-stage private ventures to public micro- and mid-cap companies. Henry is focused on the intersection of impact investing, economic justice, and building resilience in inner-city communities from the ground up.

Henry replaces Pablo Limon, who is departing this month to return home to Mexico City to work with his family business. He offered these words to share with the BII community: “It has been a privilege and honor to help bring BII’s integrated Capital approach to many businesses over the past two years. I am thrilled that Henry Noël Jr. will be joining the team as Investment Director, and he brings with him a wealth of experience and relationships. I have no doubt that BII’s investment thesis is as relevant now as ever, and there’s still plenty of work to do to help close the racial wealth divide in Eastern Massachusetts” Good luck, Pablo! We are eagerly awaiting your call one day to say you’re ready to start the Mexico City Impact Initiative!

Somerville Community Corporation Receives Second Bridge Loan for Affordable Housing Project

Founded in 1969 as a service center to assist low-income Somerville residents, the Somerville Community Corporation (SCC) has served as a community organizing hub and service provider for over fifty years. A membership-based organization rooted in the Somerville community, the SCC established Somerville’s first soup kitchen and has led numerous successful campaigns to improve access to quality affordable housing. More recently, the SCC has launched participatory community planning initiatives and supported the Community Benefits Agreement in order to combat destructive gentrification.

BII is proud to partner with the SCC as it continues to advocate for affordable housing and economic opportunity in Somerville. In addition to representing the interests of low- and mid-income Somerville residents, the SCC provides quality benefits to its employees, 30% of whom are people of color and 41% of whom are women. By providing the SCC with a bridge loan in 2019 and again in 2020, BII has allowed them to acquire new affordable housing units for the primarily low-income and immigrant families they serve while continuing their advocacy for the Somerville community. Learn more.

BII Seeks Marketing Intern for Fall

Boston Impact Initiative is looking for a Marketing Intern for 8 to 10 hours per week during Fall Semester to write content for our website and social media channels and help with virtual event planning. This is a remote and unpaid internship, but we can provide support needed to get school credit and/or funding.

Email jobs@bostonimpact.com with a resume and brief cover letter if you’re interested! Deadline for applications for Fall is Sept 15th.

Responsibilities
The Marketing Intern plays a significant role in BII’s communications and social media strategy. The primary responsibilities include working with the Impact Director to manage communications materials and social media channels.
  • Maintain a thorough understanding of the investment thesis and mission of BII
  • Create communications collateral and write content for each new investment.
  • Update social media channels (Twitter, Instagram, Facebook, LinkedIn) with portfolio updates, thought-leadership content, and other information.
  • Meet goals of organically growing followers across all social media platforms.
  • Assist in planning virtual events as needed.
  • Miscellaneous: Perform any such duty as necessary to support BII’s impact and marketing processes.
Qualifications 
  • Must be enrolled in an undergraduate or graduate degree program
  • Demonstrated interest in and understanding of economic justice, sustainability, and/or related topics
  • Excellent written and verbal communication skills
  • Familiarity with the use of social media in broader communication strategy
  • Resourceful, proactive, able to prioritize and navigate in a fast-paced team-oriented environment
  • Ability to manage multiple tasks and to meet deadlines
  • Excellent organization, attention to detail and follow-through
  • Unquestioned ability to handle confidential information in a professional manner
  • General understanding of investment principles, impact investing, small business, social entrepreneurship, and/or other related topics.
  • Proficiency with MS Office (Excel, Word, PowerPoint)

 

EdTech Startup, AllHere, Receives Equity Financing from BII

We’re proud to announce an equity investment in AllHere, a software startup founded and headquartered in Boston that combats absenteeism in public school districts through technological services. Founded by Joanna Smith, a woman of color and a former district attendance and family engagement coordinator for the Boston Public Schools, this platform helps educators document absences, recognize patterns of absenteeism, and create action plans. AllHere’s products have been shown to successfully recover 47% of truant students, reduce chronic absenteeism by 30%, and improve the attendance of 83% of all students!
In the midst of the Covid-19 pandemic, these services are more vital than ever. In the words of founder Joanna Smith, “Equity is absolutely at stake. When school returns this fall, there will likely be an increase in distance or remote learning, or blended in-class and remote learning, and with that, students of color and students in Boston whose families are facing economic challenges will need our collective support, more than ever.”
We look forward to supporting AllHere’s indispensable work in our schools and communities.

BII is hiring an Investment Director

JOB DESCRIPTION

Investment Director

Location: Boston, MA

Industry: Non-profit / Financial Services

Employment Type: Full-time

 

Contact:  Please send a resume and cover letter to jobs@bostonimpact.com

Please include INVESTMENT DIRECTOR in the title of your email. 

 

Overview

The Boston Impact Initiative Fund is an impact investing fund dedicated to closing the racial wealth divide. We invest integrated capital (equity, debt and grants) in regenerative local enterprises that restore the productive capacity of communities of color in Eastern Massachusetts. We are a 501(c)3 charitable loan fund that has raised $7M from values-aligned accredited and non-accredited investors.

We are seeking a full-time Investment Director to partner with our Impact Director in developing and managing a strong and vibrant portfolio. We are seeking someone who shares our beliefs that:

  • Current capital markets aren’t working
  • Investment decisions should not be strictly financial
  • We have much to learn from emerging models of impact investing, solidarity economics and justice movements

As Investment Director, you’ll identify innovative and inclusive opportunities for lending and investing, manage and monitor portfolio performance, and build partnerships with local organizations. The successful candidate has experience in deal origination, financial analysis, capital structuring and portfolio management, and a willingness to apply those skills in directing capital toward racial justice.

The Investment Director will maintain good relations and integrity in the community and in transactions with prospective and completed investments. We are committed to healthy, long-term relationships with our portfolio companies, providing technical assistance so we can support their efforts to grow their business and deepen their social impact. An essential responsibility of this position is to model what can be done with capital and partnerships to help build a resilient and equitable local economy.

ROLES AND RESPONSIBILITIES

  • Serve in a high-visibility leadership role to help transform local economy investing practices
  • Identify opportunities for investing, lending and grantmaking
  • Perform robust investment analysis, due diligence and market research
  • Select and present investment opportunities to investment committee
  • Coordinate closing process, including impact covenants and capital disbursement
  • Maintain healthy relationships with all portfolio organizations by supporting them in increasing financial resilience and social impact
  • Measure and track portfolio companies to ensure they meet impact and financial targets and reporting obligations

DESIRED SKILLS AND EXPERIENCE

  • Minimum 5 years’ experience in lending and/or investing
  • Demonstrated interest in and understanding of economic justice, racial justice, gender equity, sustainability, and/or related topics
  • Possess analytical skills and an interest in financial markets, public policy and social and environmental issues
  • Excellent skills in quantitative analysis and creative approach to structuring debt and equity investments
  • Ability to be self-directed; entrepreneurial experience a plus
  • Willingness to continuously learn and adapt
  • Resourceful, proactive, able to prioritize and navigate in a fast-paced team-oriented environment.
  • Strong project management skills
  • Excellent interpersonal skills including verbal and written communication
  • Excellent organization, attention to detail and follow-through.
  • Experience living and working in Boston a plus
  • Bilingual in Spanish a plus

The Boston Impact Initiative Fund is an equal opportunity employer. Boston residents, women, people of color, immigrants, queer and gender nonconforming people strongly encouraged to apply.