ImpactAssets and the Clio Fund Invests in The 22 Fund
Partnership will lead to creating the clean, quality jobs of the future in underserved communities
LOS ANGELES, Feb. 25, 2021 /PRNewswire/ -- The 22 Fund, an impact, early-growth firm investing in tech-based, manufacturing companies to increase their export capacity, announced today that it has received investment from The Clio Fund and ImpactAssets.
The 22 Fund's strategy creates a holistic approach unseen in the impact investing sector by investing with a racial, gender, climate and social justice lens. The firm's mission is multifaceted to create the clean, quality jobs of the future in underserved and low-and-moderate income (LMI) communities. The 22 intentionally invests in companies led by women, Black, Indigenous and People Of Color (BIPOC).
"ImpactAssets knows the importance, to the American economy, of growing intergenerational wealth and economic power for BIPOC and women.A highly effective way to do both is by investing in diverse fund managers who then invest in diverse entrepreneurs. Investing in The 22 Fund accomplishes this," said Dana Cotter, Chief of Staff, ImpactAssets. "We are using every economic tool at our disposal to create equity. Investing in The 22 through a custom investment helps get us closer to this goal."
The 22 invests in companies around the country that have management teams with industry expertise, recurring revenue and long customer life cycles. The 22 is industry agnostic within the manufacturing sector, including high growth industries, such as aerospace, computers and electronics, energy and green technologies, medical and dental instruments and machinery. The products range from self-powered, sustainable streetcars and circular manufacturing technology to plant-based compostables/reusables.
"The 22 Fund's strategy not only addresses what the SBA and Ex-Im Bank calls 'the equity gap'– equity capital for manufacturing and exports – but also racial and gender economic equity," said Tracy D. Gray, Founder and Managing Partner of The 22 Fund. "We are grateful and excited to partner with the Clio Fund and ImpactAssets to create jobs and grow wealth for women and BIPOC communities. These two organizations are not just looking at Black History Month but are focused on the Black present and future."
The 22 Fund not only meets the UN's Sustainable Development Goals, such as affordable clean energy, decent work and economic growth and gender equality but also the Biden Administration's Build Back Better goals through emphasizing investments in American manufacturing, hiring and training American workers, and supplying American businesses and consumers with products made in America.
About The 22 Fund
The 22 Fund invests in tech-based, export-oriented manufacturing companies to create the clean quality jobs of the future in underserved and LMI communities, intentionally including women and BIPOC-led firms to deliver both high ROI and high social/economic impact.The 22 is a member of VC Include, a platform created to accelerate investment into diverse emerging managers.
About The Clio Fund
The Clio Fund is a donor advised fund created to supply the flexible capital to invest in women-owned companies and fund social equity and social change nonprofits.
About ImpactAssets
ImpactAssets is a nonprofit financial services firm that increases the flow of capital into investments delivering financial, social and environmental returns. ImpactAssets' $1.1 billion Donor Advised Fund and field-building initiatives enable philanthropists, other asset owners and their wealth advisors to advance social or environmental change through impact investment and philanthropy.
Media Contact
Vanessa Gray
[email protected]
SOURCE The 22 Fund
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