M2 EQUITYBITES-January 24, 2020-Citi launches impact investing fund with USD 150m
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Citi has announced the introduction of the USD 150 million Citi Impact Fund that will make equity investments in double bottom line private sector companies that are committed to making a positive impact on society, the company said.
This is the largest fund of its kind to be launched by a bank using its own capital. Investments, which could be as high as USD 10 million, will primarily be made in companies that have demonstrated proof of concept, built an existing customer base, secured prior rounds of funding and exhibited the potential for scale in multiple markets. A portion of the fund is designated for earlier stage seed investments.
Citi will actively seek opportunities to invest in businesses that are led or owned by women and minority...