In line with its efforts to address regulatory and administrative issues of the New Markets Tax Credit (NMTC) program, the Novogradac NMTC Group submitted recommendations to the Senate Finance Committee last August 2017. Among its recommendations were obtaining permanency for…
On October 29th 2015, two Innovate fund investments were named winners of the World’s Largest Business Idea Competition, “43North“, in which $5mm is awarded to 11 businesses as $250K-$1M investments along with business support. The business support ranges from mentoring…
On Monday November 9th, The Gym Group, a portfolio company of Bridges Ventures Sustainable Growth Fund II (Bridges II), made an initial public offering of its stock on the London Stock Exchange, at a valuation of £250million. The Gym’s shares rose to 204¼p on its first day of trading, or 5% above the 195p issuance price.
On October 22, 2015, the U.S. Department of Labor (DOL) issued Interpretive Bulletin 2015-01 ("IB 15-01"), which provides clarification on the conditions under which a fiduciary of a plan that is subject to the fiduciary standards of the Employee Retirement Income Security Act of 1974 ("ERISA") may invest plan assets in economically targeted investments ("ETIs"). Put simply, the conditions required for ERISA pension funds to able to invest in ETIs.
In less than two weeks, innovative CDFI practitioners will gather for the OFN Conference. Register today for a chance to enjoy sessions such as: CDFI Public Policy Initiatives Roundtable Tuesday, November 10 White House briefings? The Office of Management and…
On Wednesday October 21, 2015 The CDFI fund officially opened the 2015 round of the New Markets Tax Credit Program (NMTC Program) through the release of the Notice of Allocation Availability (NOAA). The NMTC program channels private sector capital into…
On October 8th 2015, as members of the impact investing and social entrepreneurship field gathered for the SOCAP event Wharton Social Impact initiative used the opportunity to launch their first-ever report on the financial performance of impact investing. The report,…
On October 19th 2015, The Global Impact Investing Network (GIIN), released a landscape study of the US Community Impact Investment field. Titled Scaling U.S. Community Investing: The Investor-Product Interface, the report provides insight into the barriers and opportunities to increasing…
In October of 2015, BlackRock, Inc. announced the launch of the BlackRock Social Impact fund. Led by Black Rocks Scientific Active team, the BlackRock Impact Fund consists out of equity securities in companies targeting competitive market returns and aggregate social…
On October 7, 2015, Omidyar Network published a report named “Frontier Capital: Early Stage Investing for Financial Returns and Social Impact in Emerging Markets”. The report offers a strategic guide to how investors can achieve financial returns and social impact…