<em>ImpactAlpha, November 18 – </em>Chicago-based Impact Engine has raised a second impact fund to back entrepreneurs preparing and upskilling the U.S. workforce.The accelerator-turned-fund-manager is armed with $25 million in fresh capital to cut checks of up to $400,000 in software companies like Fixer, an on-demand home maintenance service that employs and trains people from disadvantaged backgrounds; KickUp, a platform listing professional development opportunities for teachers; and Glimpse K12, which helps school districts deploy early education resources more effectively.Impact Engine is investing in other sectors too, like health (CancerIQ), financial services (Climb Credit) and housing (PadSplit), but sees the most opportunity in tech companies “straddling economic empowerment and education,” partner Tasha Seitz told <em>ImpactAlpha</em>. “I think the conversation about the future of work is driving a lot of that.”It’s a shift from Impact Engine’s $10 million first fund, which primarily invested in health and edtech startups.https://impactalpha.com/the-landscape-of-tech-solutions-creating-economic-opportunity-d1eca01b6d2b/Impact Engine hit a $10 million <a href="https://impactalpha.com/chicagos-impact-engine-raises-10-million-for-new-fund/" data-mce-href="https://impactalpha.com/chicagos-impact-engine-raises-10-million-for-new-fund/">first close</a> for the fund last May. It has now reached a final close of $25 million with backing from Trillium Asset Management, the Illinois Growth and Innovation Fund, ImpactAssets, family offices and foundations.The fund will invest in about 25 companies, with reserves for follow-on rounds.
- If Patrick doesn’t highlight his private-equity career, his critics certainly will. Like it or not: impact investing will be on the ballot.
Guild Education's fresh $157 million in equity funding is the latest transaction in what’s becoming a frothy workforce development venture capital market.
World Vision is tapping a uniquely Australian bond structure to raise A$20 million to expand its microfinance services.
- New funds targeting the conversion of traditional businesses to worker-ownership are structuring terms to meet the needs of owners without putting undue risk on workers
- Agents of Impact are descending on Antigua, Guatemala this week for the fifth Foro Latinoamericano de Inversión de Impacto Centroamérica y El Caribe.
The $20 million fund by Pakistani conglomerate Fatima Group and Shanghai-based Gobi Partners will invest in Pakistan’s homegrown tech solutions to mobility, education, healthcare and more.