Massachusetts Mutual Life Insurance Company launched the MM Catalyst Fund, a $50m investment commitment earmarked for businesses across Massachusetts.
The fund will be divided between two capital:
- a $25m community growth sleeve (“MMCF Growth”) to target equity and debt investments in Black-owned, founded or managed businesses across Massachusetts, including in Boston; and,
- a $25m technology sleeve (“MMCF Tech”) to target equity investments in Massachusetts technology companies based outside Boston.
Led by Rilwan Meeran, Impact Investment Portfolio Manager, the MMCF will build a portfolio of early and mid-stage companies with investment sizes of 250K to $2.5m each.
MMCF launched an open, public-facing, online funding application to create a level playing field to access its capital with the goal of funding parity. The application page is now available at https://www.massmutual.com/lp/catalyst.