The Boston Impact Initiative (BII) has been included on the 2023 Transformative 25 (T25), a list that recognizes funds, banks and initiatives that demonstrate the power and possibility of integrated capital toward a finance system that works for people and the planet.

The list, which also includes the ConnectUP! Institute and Denkyem Coop, in BII’s Emerging Fund Managers cohort, recognizes funds across the U.S. and beyond that meet at least three of these criteria: 1) employ integrated capital to reach investees unable to access finance; 2) use creative finance structures for shared prosperity; 3) focus on social, relational and/or ecological returns; and 4) reshape ownership and governance for shared prosperity.

“It’s always a gift to have your work acknowledged,” said BII co-founder Deborah Frieze. “But being on the Transformative 25 list is more than just recognition: It means we’re part of a community of like-minded financial activists who are working to change systems. That’s the community we want to be part of.”

The T25, announced April 26, were selected by a 19-member committee representing multiple sectors, from a diverse group of funds that drive innovative solutions to wealth inequality, the climate crisis, unbanked entrepreneurs and families, and racial and gender discrimination.

“The work of the T25 funds, banks and initiatives we elevate here represent the next generation of impact investing approaches,” wrote Jen Astone, chair of the Transformative 25 and principal of Integrated Capital Investing. “These initiatives go beyond the limitations of traditional approaches to advance the values shared in the many emerging impact frameworks being developed in the field,” such as regenerative/non-extractive finance, restorative economics, deep impact investing, just transition investing, and integrated/full spectrum capital approaches.

The T25 announcement also highlighted how these funds are collaborating, rather than competing, to solve problems. As committee member Ishita Shah put it: “The integrated capital community is one that spreads its wings by teaching others rather than employing a competitive culture. That’s the beauty of keeping impact center stage – everyone’s incentive is to spread ideas and approaches to impact, rather than compete on the best fund or greatest financial success.”