The Boston Impact Initiative reported that investors of color face additional challenges when it comes to supporting new enterprises.
By Esmy Jimenez│The Boston Globe
Investors of color often face hurdles when it comes to building new enterprises, including access to capital and operational challenges, according to a new report from the Boston Impact Initiative, or BII, published Wednesday.
The nonprofit focuses on racial and economic justice by training and educating new and existing fund managers who then invest in local businesses, allowing communities of color to build wealth.
“It’s intentional, because we believe that these folks can move the capital that is needed in the communities that are under-invested,” said Aliana Piñeiro, the initiative’s impact director.
Since 2020, the organization has trained 69 fund managers to design, launch, and manage integrated capital funds. The goal was to collectively raise almost $378 million to invest in communities of color in the United States and Canada.
More coverage of the State of the Cohort report
Report: Boost investment in low-income areas by training impact fund managers – Boston Business Journal and Bay State Banner
Supporting emerging fund managers to drive capital to communities – Impact Alpha