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How Citi Impact Investing Seeks To Drive Positive Change And Financial Returns
Foundation: Case Foundation
"Every investment has impact," Citi's Meredith Shields tells Today.
"The question is what impact does it have?" That's one of the questions the bank is asking with its new Citi Impact Fund, which is putting $200 million toward early-stage startups that are making a positive social impact.
It's the first fund from a major financial institution to focus on social impact investing, per the Washington Post, and it's part of a trend of major playersincluding the federal governmentacquiring a larger stake in so-called impact investing funds, which invest in technologies that have the potential to make a positive social impact.
"Many solutions are capital intensive and need the support of deep pockets that can absorb a lot of risk," Case Foundation CEO Jean Case tells Today.
"This sector has shown steady growth in recent years; globally, the impact investing market grew from $420.91 billion in 2022 to $495.82 billion in 2023 (a 17.8% compound annual growth rate)."
Citi's fund will focus on companies that are solving "some of the world's most critical challenges," including climate change, education, and healthcare, Shields tells Today.
The fund will also invest in women and people of color, disabled people, and communities of color
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