The U.S. Small Business Administration licensed the first nationally-focused Impact Investment Fund, SJF Ventures III, LP.
SJF Ventures will make equity investments in cleantech and technology companies in communities nationwide as part of a Startup America‘s impact investment initiative to invest up to $1.5 billion in high-growth small businesses.
The unleveraged Small Business Investment Company (SBIC) fund, which is committing up to $75m over the next five years, focuses on investing growth equity in companies with strong financial, community and environmental results.
Its areas of focus include:
– efficiency and infrastructure;
– reuse and recycling;
– sustainable agriculture and food safety; and
– technology enhanced services.
The lead investor for SJF Ventures III, LP, is Citi Community Capital (Citi), the community development lending and investing group of Citi.