To date, this brings the $200 million Impact Fund's total number of investments to 23 companies—more than half of which are founded by women and/or minorities.
Citi Impact Fund
Through our $500 million Impact Fund, we are using our own capital to make equity investments in "double bottom line" U.S.-based private sector companies that are applying innovative solutions to help address some of society's most pressing challenges.
We typically coinvest alongside other investors in the venture capital ecosystem, making equity capital commitments ranging from $250,000 to $10 million across the seed to pre-IPO stages. Investments are primarily made in companies that have demonstrated proof of concept, secured prior rounds of funding and exhibited the potential for scale. We primarily, but not exclusively, invest in four verticals: Future of Work, Climate Solutions, Financial Inclusion, and Social Infrastructure, with a focus on Housing, Transportation and Healthcare.
We actively seek opportunities to invest in businesses that are led or owned by women and people of color to help combat the gender, and race gaps that exist in the VC-funded startup ecosystem. As part of this commitment, early-stage seed investments are primarily allocated to businesses that are led or owned by women and people of color.
Additionally, as part of Citi and the Citi Foundation’s $1 billion+ Action for Racial Equity initiative, the Citi Impact Fund’s Black Entrepreneurs Investment Initiative – a $50 million capital commitment from Citi to help reduce the racial wealth gap by creating equitable access to venture capital funding for Black founders – has made early-stage equity investments in tech-enabled ventures led by Black founders.
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Focus Areas
We are looking for companies with solutions that focus on:
WORKFORCE DEVELOPMENT
- Enable continuous learning for lifelong career development
- Connect people to meaningful job opportunities and/or entrepreneurial support
- Build professional networks
- Promote workforce diversity, equity and inclusion
- Provide career pathways for upward economic mobility
PHYSICAL & SOCIAL INFRASTRUCTURE
Housing- Help solve the global housing crisis
- Reduce cost and time for housing construction
- Help reduce traffic and pollution
- Reimagine the future of cities
- Improve quality of healthcare delivery
- Reduce healthcare costs for underserved and vulnerable populations
FINANCIAL INCLUSION
- Increase an individual's financial capability to improve their economic mobility
- Enhance financial infrastructures, business models, and financial products to better serve low-to-middle income communities
- Democratize access to financial services by decreasing costs and removing distribution barriers
SUSTAINABILITY
- Encourage efficiency through the use of fewer resources such as energy and water
- Promote clean and safe energy sources
- Develop products that can be recycled and reused
- Advance environmental justice
- Bolster adaptability and resilience
- Further Citi's Sustainable Progress Strategy
Our Current Portfolio
We will continue to update this page as we invest in additional companies through the Citi Impact Fund.
Cityblock Health is a transformative, value-based provider for historically marginalized and underserved communities, including Medicaid, dually-eligible and lower-income Medicare beneficiaries. Cityblock was founded in 2017 and is headquartered in Brooklyn, New York.
Clerkie is a Black-founded AI company based in San Francisco. Their proprietary financial automation platform streamlines the relationship between creditors and their consumers, and it is purpose-built to help over 100 million Americans ease their debt burden. Clerkie has helped thousands of borrowers get out of debt and build credit by negotiating up to 70% off users’ debt.
Daylight is New York, N.Y.-based company and the first and only digital banking platform in the U.S. specifically designed for the LGBT+ community by the LGBT+ community. Led by LGBT+ entrepreneurs and co-founders, Daylight offers a holistic set of financial products, tools and advice to help the LGBT+ community simplify banking.
Flume Internet is a minority-founded internet service provider that enables high-speed low-cost internet access by leasing unused networks from cities and utilities. Based in New York, N.Y., Flume builds and installs optical edge technology designed to access these unused fiber assets in order to provide home broadband options for urban and suburban communities at low to no cost.
Fulcrum BioEnergy converts municipal solid waste into low-carbon, renewable transportation fuels, including jet fuel and diesel, via waste processing and refining facilities. The company is diverting large volumes of waste from local landfills, many of which are overtaxed or at capacity, and reducing greenhouse gas emissions by more than 100 percent.
Full Harvest’s online business-to-business marketplace connects farms with food & beverage businesses to sell perfectly good surplus and imperfectly shaped produce. Their mission is to eliminate edible on-farm food loss, the largest portion of the global food waste problem - the #1 contributor to climate change. A woman-founded company, Full Harvest is based in San Francisco.
Greenwood is a Black-founded, tech-enabled, financial banking platform built for African Americans, Latinos and allies of the culture. With a mission of wellness for all, along with partner banks, Greenwood is developing a suite of financial products that support sustainable entrepreneurship, empower wealth creation, and promote financial literacy.
Guild Education is a social impact company that empowers American workers to unlock life-changing opportunities for personal and professional advancement through skill-building and coaching. Its industry-leading technology platform allows the nation's largest employers to offer strategic education and skilling to their employees. Headquartered in Denver, Guild was founded by two women entrepreneurs.
ICON is an Austin-based company developing technologies that advance humanity. Using proprietary 3D printing robotics, software and advanced materials, ICON is shifting the paradigm of homebuilding on Earth and beyond. The company recently received Fast Company's 2020 World Changing Ideas Award for building a 3D printer that has 3D printed resilient, dignified homes in Mexico and the U.S.
Jetty is a New York, N.Y.-based financial services company on a mission to make renting a home more affordable and flexible for everyone in a way that benefits both property owners and renters. Using a deposit replacement product as well as a flexible rent payment product, Jetty lowers the barriers to renting, saving residents thousands of dollars and providing them with flexible rental payment structures, while helping property managers improve business outcomes.
KETOS addresses a number of the world’s water challenges with the goal of preserving this quintessential resource for years to come. The company delivers a vertically integrated platform—an intersection of robotics, data science and IoT for the world of water. This enables operators to proactively solve mission-critical efficiency and quality challenges in real-time and ensure that water used in municipal, agriculture and industrial applications meet specific compliance and sustainability standards.
Lacuna Technologies is a software company based in Palo Alto, CA that builds and manages open-sourced digital tools that allow cities and municipalities to create, communicate, and enforce dynamic transportation policies. Lacuna's solutions, built on open-source technology, give cities a full and reliable picture of how their roads and airways are changing so that they can create evidence-based policies to address congestion, pollution, access and safety issues, and more.
MedHaul, a Black and woman-founded company based in Memphis, operates an end-to-end platform that helps healthcare providers (e.g., hospitals, physician groups) find and book safe, skilled and personalized non-emergency medical transportation (NEMT) for people with special needs. MedHaul provides a cloud-based, mobile-optimized marketplace that automates the transit management process and links healthcare providers with specialized transportation services.
MoCaFi is a Black-owned fintech offering mobile banking, credit building and wealth empowerment tools to underserved communities. Its innovative banking platform addresses communities challenged by limited economic mobility and financial equity. Throughout the pandemic, MoCaFi has assisted individuals, families and businesses in need through partnerships with organizations and cities providing direct services.
The Mom Project is a woman-founded and -led job marketplace based in Chicago that connects women to companies that are committed to designing and supporting a better workplace. For women using the platform, The Mom Project provides job opportunities and a community with guidance and insights into various aspects of integrating motherhood and work. For companies, The Mom Project not only provides access to an experienced talent pool of more than 300,000 women, but helps build the infrastructure needed to recruit, retain, and promote women.
Moving Analytics is a telehealth company that has helped thousands of patients across multiple states access life-saving cardiac rehab after they have experienced a heart attack or cardiovascular complication. The company eliminates common barriers to access like need to travel, high co-pays and long waiting lists by offering care to patients through an innovative, app-based, virtual program.
OhmConnect is an Oakland-based energy demand response company that enables hundreds of thousands of customers to reimagine how they use energy, to choose clean energy over dirty energy when required, and to be rewarded for timely, smarter, home energy use. OhmConnect pays its household users to reduce their energy consumption during peak times when the grid is at risk of using dirty power. They sell those aggregated energy savings in the energy market and pass a portion of those earnings back to their users.
PadSplit is an Atlanta-based, mission-driven marketplace that provides lower income workers with safe, clean and affordable housing. Founded by an affordable housing advocate, PadSplit incentivizes more affordable housing creation by monetizing underutilized rooms in single-family homes and increasing profitability for property owners, without requiring public subsidies. Each PadSplit home includes furniture, utilities, wifi, laundry, 24/7 access to telemedicine and credit reporting with its weekly rent payment. By having a lower rent burden, PadSplit residents are able to save more of their income and work toward financial independence.
Pallet is an Everett, WA based social purpose company and woman-founded firm with the mission to end unsheltered homelessness. The company's rapid response shelter villages provide the dignity and security of private dwellings within a community. A resource net of on-site services, as well as food, showers, laundry, and more helps people transition to permanent housing.
Pathstream is a woman-founded company, which supports working adults to transition into high-demand digital skill careers by providing best-in-class online education and job placement. Headquartered in San Francisco, Pathstream builds programs in fields such as data analytics and project management in direct partnership with industry-defining work-tech companies. Pathstream's programs have been increasingly used by Fortune 100 employers as a competitive advantage to recruit, retain, and upskill their frontline workforce.
Perch is a Black-founded Los Angeles-based company designed to empower unbanked and underbanked young adults with tools to properly manage their credit. Perch has designed a platform that helps young adults learn sustainable credit habits and build credit without having to go into debt or increase expenses. Using the Perch platform, users are able to report recurring monthly payments (such as rent payments and subscription services) to U.S. credit bureaus and begin to build a credit profile.
Recycle Track Systems (RTS) is an environmentally-focused, technology-enabled provider of waste and recycle management services for commercial, public and private entities. Founded in New York City, RTS uses a software platform and proprietary tracking system, leveraging a network of partner haulers, to track materials as they travel to recycling or composting facilities and provides companies with reports that show how much material was diverted from landfill, recycled, and composted.
Shift.org, Inc. (“Shift”) is a San Francisco-based and veteran-led career advancement company where current and former members of the U.S. military discover careers, acquire and demonstrate new skills, and embark upon new job experiences at the best companies in the world. Shift’s talent-acquisition services provide corporate partners with a talent pipeline of diverse, non-traditional, experienced and prepared candidates.
StackShare is a minority-founded and San Francisco, Calif.-based enterprise software-as-a-service (SaaS) company that provides tech stack collaboration for developers. StackShare offers developers free access to the platform. It also gives companies and their engineering teams meaningful visibility into their tech stack to save hundreds of hours, reduce their risks, and more easily coordinate with governance and compliance teams.
TailorMed is a health technology company headquartered in New York, NY and Tel Aviv, Israel that works with providers, pharmacies, and pharmaceutical manufacturers to reduce patient financial burden and alleviate issues related to uncompensated care. TailorMed's platform automates the entire process of identifying financially at-risk patients, matching and enrolling them in financial resources such as: co-pay assistance, replacement drug programs, government subsidies, community and state resources, assistance from disease-specific foundations, and programs that support patients with their living expenses.
Superpedestrian is a transportation robotics firm that develops the technology inside the LINK Scooter, the safest, most reliable lightweight electric vehicle in the world. Based in Cambridge, Massachusetts, Superpedestrian was spun out of the MIT Department of Urban Studies and Planning in 2013 with the mission is to develop safe and reliable lightweight electric vehicles (LEVs) with onboard diagnostic technology to monitor and potentially resolve potential issues before they occur.
Sweeten is a New York-based, Black woman-founded digital platform that matches residential and commercial construction projects with vetted general contractors, while offering guidance and financial protection. The sophisticated digital platform empowers owners and contractors alike with transparency, data and an expansive online library of renovation knowledge.
Vyv (formerly known as “Vital Vio”) is a New York-based and woman-founded health tech company that has created a new kind of cleaning protection. Vyv offers proprietary continuous-use, non-UV antimicrobial light technology for homes, public places and industry. Unlike hazardous UV light, Vyv meets international standards for continual and unrestricted use around people, animals and plants.
Wonderschool is a developer of software that connects parents of young children with local, credentialed in-home childcare providers on a secure platform, while equipping providers with billing, marketing and onboarding tools to build thriving childcare businesses. Wonderschool is a San Francisco-based, Black entrepreneur-led company.