About the fund
Boston Impact Initiative (BII), a nonprofit impact investment fund and certified Community Development Financial Institution (CDFI), announced the final close of its Fund II on December 31, 2025, raising over $22 million in total commitments from nearly 240 investors across 24 states in the United States, including individuals, donor-advised funds, nonprofits, foundations, faith-based organizations, and impact funds. To date, BII has cumulatively deployed over $20 million in integrated capital —debt, equity and grants—across more than 100 small businesses, nonprofits and community-controlled real estate projects in New England.
BII raised 10% more than its $20 million target for Fund II, with 30% of investors returning from Fund I, reflecting strong investor demand for BII’s democratized approach to impact investing. Fund II invests in social enterprises advancing inclusion, climate resilience, and worker power, plus community-owned and controlled real estate in New England. Through its innovative note structure, Fund II welcomed both accredited and non-accredited investors, with investments ranging from $1,000 to $1 million.
The note structure offers three tiers: Community Notes at 5% for non-accredited investors ranging from $1,000 to $25,000; Solidarity Notes at 3% for accredited investors; and Philanthropic Notes at 1% for accredited investors – ranging from $10,000 to $3 million. This tiered approach enabled nearly 240 investors to participate in community wealth building, with many first-time impact investors joining BII’s mission.
This structure reflects BII’s commitment to building an investor base that mirrors the communities we serve. Unlike conventional impact funds that limit participation to wealthy accredited investors, Fund II welcomed community members investing alongside institutional investors committing millions.
Fund II has already deployed $10.4 million into 29 enterprises that support over 1000 jobs and real estate projects that preserved or created 700 units of affordable housing. Portfolio companies include 88 Acres, florrent, Nuevo Dia Adult Day Health, and East Boston Neighborhood Trust.
