Citi Impact Fund announces second round of investments

 Citi Impact Fund announces second round of investments

Citibank has announced a second round of investments through the Citi Impact Fund in  Black-, women-, and veteran-led companies working to address pressing social problems.

Launched in 2020, the $200 million fund makes equity investments in "double bottom line" companies working to create impact in one of five areas: workforce development, financial capability, physical and social infrastructure, sustainability, and access to capital and economic opportunity.

Companies receiving funds in this round include Clerkie, a Black-led AI company whose financial automation software streamlines the relationship between creditors and consumers; KETOS, a female-led firm that delivers integrated, Internet of Things (IoT) solutions for actionable water intelligence; MedHaul, a Black- and female-led company that operates an end-to-end platform that helps healthcare providers schedule personalized non-emergency medical transportation for people with special needs; Perch, a Black-led firm that empowers unbanked and underbanked young adults with tools they can use to effectively and efficiently manage their credit; Shift, a veteran-led career advancement company that helps current and former members of the military acquire new skills; Superpedestrian, a transportation robotics firm that develops the technology inside the LINK Scooter; and Vyv, a female-founded health tech company that has created continuous-use, non-UV antimicrobial light cleaning technology for homes, public places, and industry.

"The Citi Impact Fund is broadening access to capital for founders like me," said MedHaul founder and CEO Erica Plybeah. "MedHaul is the first company receiving earlier-stage seed investment from the fund, and we're extremely excited to partner with Citi as we scale our company to support more people in need of quality, dependable medical transportation."

(Photo credit: MedHaul)