Citi, the New York-based global bank, has launched a $150 million impact fund with an expressed interest in funding workforce development companies that measure social impact.
Investments can be as high as $10 million in companies that demonstrate proof of concept, have an existing customer base, have secured prior rounds of funding and shown potential for scale in multiple markets, according to a statement Friday.
Some of the funds will be dedicated to female and minority-led or owned earlier-stage companies seeking seed investments.
Along with companies that provide services to train people and connect them to careers, the Citi Impact Fund will invest in companies that address energy, water and sustainable production issues; companies focused on housing, health care and transportation; and those that increase access to the financial system.
Other new funds of interest to education technology companies include an impact fund from Western Governors University and a $250 million fund Learn Capital is pursuing, according to filings with the U.S. Securities and Exchange Commission.
