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LeapFrog backs $54 million round for affordable insurer PasarPolis

ImpactAlpha, September 3 – Indonesian insurance tech company PasarPolis partners with large insurance firms to develop health, vehicle and life insurance products for lower-income customers. The five-year-old company expanded into Vietnam and Thailand last year. LeapFrog invested in the company’s $54 million Series B round. The impact investor was joined by ride-hailing company Gojek’s venture

Oakland Black Business Fund launches with COVID relief funding

ImpactAlpha, September 2 – Oakland Black Business Fund, a new nonprofit investment fund, aims to help Black-owned businesses weather and recover from the COVID economic storm. Its broader vision is to seed economic opportunity and wealth creation for Oakland’s Black residents through business advice, grants, investment and real estate. OBBF has raised $150,000 to start

Costco commits $25 million to LISC’s Black Economic Development Fund

ImpactAlpha, September 1 – The Local Initiatives Support Corp.’s launched its Black Economic Development Fund to invest in Black-owned banks and minority businesses, along with charter schools, affordable housing projects and athletic facilities in Black communities. Costco’s $25 million commitment to  matches $25 million from Netflix. LISC is targeting $100 million for the fund.  LISC

Angel network of Halcyon incubator backs edtech and solar startups

ImpactAlpha, September 1 – D.C.-based nonprofit Halcyon recently launched an angel network for residents of the D.C. metro area to invest in impact startups. The network’s first two investments are a $400,000 commitment to MajorClarity, an edtech startup focused on remote learning, and $230,000 for community solar startup Solstice.  Halcyon has been incubating D.C.-area startups

Crowdcube’s secondary market aims to give exits to equity crowdfunding investors

ImpactAlpha, August 31 – Crowdcube, the U.K.-based equity crowdfunding platform, isn’t exclusively focused on impact. But its new offering, which allows early investors to sell their stakes to other interested investors, could help entrepreneurs raise capital by drawing more investors to the platform (see, “Equity crowdfunding changes who gets financed”). U.K.-based equity crowdfunding site Seedrs

California Rebuilding Fund strengthens regional community development financing infrastructure

ImpactAlpha, Aug. 31 – Small business relief funding efforts are bogged down in Washington. But a growing network of state governments and private funders are backing community-based lenders to provide critical capital for small businesses trying to recover from the COVID crisis.  The California Rebuilding Fund, greenlighted by state officials last week, boosts the lending