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Meet Philaimpact Fund, Philadelphia's New Place-Based Impact Investment Fund
Foundation: Philadelphia Foundation
The PhilaImpact Fund will allow investors to fund development projects in Philadelphia and the counties surrounding it.
The partners aim to raise $30 million.
All investments will finance local community projects such as health centers, supermarkets and early education facilities in low-income neighborhoods.
When the investment matures through both channels, the principle will be repaid to the investors.
The Philadelphia Foundation is committing an initial $5 million.
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