Boston Impact Initiative Fund

Bii manages two integrated capital investment funds - bii Fund i and bii Fund ii. Bii Fund i bii's inaugural Fund ("bii Fund i") was launched in 2017 to invest integrated capital - defined as debt, equity and grants - in regenerative local enterprises in eastern Massachusetts that are owned and controlled by entrepreneurs of color or that serve communities of color. By using this "whole portfolio" approach, bii selects the best capital instrument for the age and stage of each organization in which it invests. In addition to making investments in these enterprises, bii provides technical assistance, business coaching, connections, and educational programming to support its portfolio investments, strengthen the Impact of these enterprises in their communities, and improve the effectiveness of entrepreneurial services. Bii Fund i has made cumulative integrated capital investments of approximately 7.7 million. This total comprises 6.9 million of debt and equity investments across 50 enterprises and 852,193 awarded in grants from a separate grant pool as of december 31, 2022. In 2022, bii Fund i made 6 Impact investments totaling 524,998. Bii Fund ii in may 2022, bii established Boston Impact Initiative Fund ii llc ("bii Fund ii") a wholly-owned subsidiary of bii for the purpose of launching bii's second integrated capital Fund. Bii Fund ii is a 20 million debt Fund that will invest integrated capital into early-stage social enterprises owned by entrepreneurs of color and community-controlled real estate in Massachusetts and the northeast. It aims to build on bii's track record of innovation in integrated capital tools-primarily patient, non- extractive equity capital-in social enterprises and community-controlled real estate to increase wealth and asset-building opportunities for communities of color. Bii Fund ii invested a total of 1.4 million in six enterprises as of december 31, 2022.

Bii engages in field-building, education and advocacy initiatives that challenge conventional beliefs about ownership, competition, profit-making and control-and advance fresh perspectives on trust-based investing, integrated risk and return, and democratizing ownership and decision- making. Bii's field-building programs include: 1.emerging Fund manager education program the emerging Fund manager education program equips Fund managers with developing the skills and knowledge they need to structure, raise and manage a blended capital Fund. The purpose of these funds is to build sustainable, inclusive and equitable local economies that restore the productive capacity of communities of color. 2. Impact capital lab (advisory services) bii delivers customized advisory services and educational training through its Impact capital lab program to support and amplify the success of individual and institutional investors and philanthropists focused on community-based Impact investing. 3. Integrated capital cards and program the integrated capital cards and program is designed to help Fund managers, funders, entrepreneurs, and Impact and community investors learn how to use creative financial tools for solving wealth inequality.