Impact Engine, an independent, women and BIPOC-led asset manager focused on impact investing, has announced the final close of its second private equity fund. The $85 million fund, called Impact Engine Private Equity Fund II, or IEPE II, brings its total assets under management to $240 million.
Since launching its private equity strategy in 2019, Impact Engine has made commitments to 11 funds and 18 companies across the sectors of health equity, environmental sustainability and economic opportunity. IEPE II is backed by well-known investors like Builders Initiative, the Kellogg Foundation and the Surdna Foundation.
Impact Engine, founded in 2012, aims to align financial returns with positive impact outcomes. The firm leverages its expertise and network to invest in venture capital and private equity strategies that drive financial returns and social or environmental impact returns. The recent close of its second private equity fund demonstrates the firm’s commitment to growing the impact investing industry and supporting emerging managers and companies in the field.
