Axios coverage of the $1 million in Community Notes that BII is raising as part of Fund II.

The Boston Impact Initiative is raising money for a $20 million fund, and the nonprofit impact investment group is recruiting a number of middle-income residents for smaller investments, CEO Betty Francisco tells Axios.

The minimum for these lower- and middle-income residents, or “non-accredited investors,” is $1,000. That’s a lot of money for the average person, but it’s far smaller than typical venture capital fund minimums, which range from $500,000 to $5 million or more.

The fund will go toward startups and projects owned by entrepreneurs of color and community-governed real estate projects that prevent displacement in the Northeast.