Citi Pronounces New Influence Fund Funding

NEW YORK -Citi introduced immediately its subsequent spherical of investments by means of the Citi Influence Fund, a $200 million fund launched final yr to spend money on firms which are addressing a number of the largest societal challenges, together with workforce growth, monetary functionality, bodily and social infrastructure, sustainability, and entry to capital and financial alternative.

The brand new firms included on this spherical Daylight, Flume, Jetty, Lacuna, Pathstream, Recycle Observe Techniques, and Stackshare. So far, this brings the Influence Fund’s whole variety of investments to 23 firms – greater than half of that are based by ladies and/or minorities. The Citi Influence Fund’s Black Entrepreneurs Funding Initiative – a $50 million capital dedication from Citi to scale back the wealth hole by creating equitable entry to enterprise capital funding for Black founders – has made 9 early-stage fairness investments in tech-enabled ventures led by Black founders.

“The portfolio of the Citi Influence Fund retains rising as we proceed to search out inspiring firms which are taking over options for the bodily, monetary and social infrastructure challenges that our communities are dealing with,” mentioned Ed Skyler, Head of International Public Affairs at Citi. “From addressing lack of web entry to lowering the burden of medical care, these firms are rethinking what’s attainable, and we’re proud to deploy our steadiness sheet in assist of true ‘double bottom-line’ firms.”

“Dwelling broadband within the U.S. lags far behind in each aggressive choices and fiber penetration in comparison with many different international locations, and the occasions of the final 18 months have actually highlighted how this disproportionately impacts decrease revenue communities throughout the U.S. in each city and rural settings,” mentioned Prashanth Vijay, Co-founder and CEO, Flume Web. “Flume is working to bridge this digital divide by bringing premium fiber providers to neglected places in main cities. We’re excited to work with Citi, who has been a crucial associate on this imaginative and prescient and is powering us to not solely deploy but in addition educate residents about the advantages and best methods to make use of their fiber connection.”

“Our mission is to assist the tens of millions of working adults within the U.S. who need to transition to economically steady and personally fulfilling careers however have hit a useless finish by providing a quick, versatile, and guided academic expertise offering a direct path into greater talent roles,” mentioned Eleanor Cooper, Co-Founder, CEO, Pathstream. “People come to us to get within the doorways of employers, and employers come to us as an answer for attracting, retaining, and upskilling their frontline workforce by offering digital abilities & promising profession pathways to traditionally high-turnover, dead-end jobs. We’re thrilled to have Citi on board, each due to their historical past supporting modern schooling and for his or her partnership in selling fairness points extra broadly.

  • Daylight is a New York, NY-based firm and the primary and solely digital banking platform within the U.S. particularly designed for the LGBT+ group by the LGBT+ group. Led by LGBT+ entrepreneurs and co-founders Rob Curtis (CEO), Billie Simmons (COO) and Paul Barnes Hoggett (CTO), Daylight gives a holistic set of monetary merchandise, instruments and recommendation to assist the LGBT+ group simplify banking. Daylight’s flagship services have been designed to enhance monetary equality and inclusion for the estimated 30-million-plus People who establish as LGBT+, a big, untapped market.

  • Flume Web is a minority-founded web service supplier that permits high-speed low-cost web entry by leasing unused networks from cities and utilities. Primarily based in New York, NY, Flume builds and installs optical edge know-how designed to entry these unused fiber belongings with a purpose to present dwelling broadband choices for city and suburban communities at low to no price. Flume gives broadband entry to clients together with premium WiFi administration by way of tiered subscription choices starting from $35 – $50. The corporate will probably be increasing service to different cities on the East Coast in 2022 and strives to speed up fiber to the house deployments all throughout the US.

  • Jetty is a New York, NY-based monetary providers firm on a mission to make renting a house extra inexpensive and versatile for everybody in a manner that advantages each property house owners and renters. Utilizing a deposit substitute product (Jetty Deposit) in addition to a versatile hire cost product (Jetty Hire) property managers can improve lease conversion, cut back unhealthy debt, and streamline operations. For the renter, Jetty merchandise decrease the obstacles to renting, saving residents hundreds of {dollars} and offering them with versatile rental cost buildings.

  • Lacuna Applied sciences is a software program firm primarily based in Palo Alto, CA, and it builds and manages open-sourced digital instruments that permit cities and municipalities to create, talk, and implement dynamic transportation insurance policies. Streets are full of new types of mobility – supply providers, rideshare automobiles, and even drones. Lacuna’s options, constructed on open-source know-how, give cities a full and dependable image of how their roads and airways are altering in order that they will create evidence-based insurance policies to handle congestion, air pollution, entry and questions of safety, and extra. Lacuna paves the way in which for industrial operators to combine their trendy applied sciences into cities equitably in a manner that works for everybody long-term.

  • Pathstream helps working adults to transition into high-demand digital talent careers by offering best-in-class on-line schooling and job placement. Headquartered in San Francisco, Pathstream builds applications in fields similar to information analytics and venture administration in direct partnership with industry-defining work-tech firms. Pathstream’s applications have been more and more utilized by Fortune 100 employers as a aggressive benefit to recruit, retain, and upskill their frontline workforce.

  • Recycle Observe Techniques (RTS) is an environmentally-focused, technology-enabled supplier of waste and recycle administration providers for industrial, private and non-private entities. Based in New York Metropolis, RTS makes use of a software program platform and proprietary monitoring system, leveraging a community of associate haulers, to trace supplies as they journey to recycling or composting amenities and gives firms with experiences that present how a lot materials was diverted from landfill, recycled, and composted. RTS’ goal is to deal with waste like a commodity and preserve that materials within the virtuous cycle from waste technology to its closing locations, contributing to the round financial system.

  • StackShare is a San Francisco, CA-based enterprise software-as-a-service (SaaS) firm that gives tech stack collaboration for builders. StackShare has a group of multiple million builders and over 40,000 firms which have shared the tech stacks they use. StackShare makes use of a freemium mannequin, providing builders free entry to the platform in addition to an enterprise subscription tier for firms, which helps firms routinely map out, doc, and talk about all of the tech stacks getting used throughout their inner engineering groups by means of deep Git integration. It provides firms real-time visibility into their tech stack stock, tech information for engineering planning & coordination, and tooling to drive inner collaboration – enabling engineering groups to avoid wasting a whole lot of engineering hours, cut back their potential assault floor, and extra simply coordinate with governance and compliance groups.

The Citi Influence Fund is a part of International Public Affairs’ Group Investing and Growth staff, which goals to boost optimistic social influence and monetary improvements that profit underserved communities around the globe. By means of fairness investing, lending and grant making, Citi and the Citi Basis are working in new methods to impact optimistic and significant change within the communities around the globe together with Motion for Racial Fairness, which dedicated greater than $1 billion in strategic initiatives to assist shut the racial wealth hole and improve financial mobility within the U.S. Moreover, Citi has dedicated $1 trillion to sustainable finance by 2030, which incorporates $500 billion to assist actions in assist of the SDGs exterior of environmental finance – together with schooling, inexpensive housing, well being care, financial inclusion, group finance, worldwide growth finance, racial and ethnic variety and gender equality.

To be taught extra concerning the Citi Influence Fund, go to For extra data on how Citi is enabling progress and sustainable progress in communities across the globe, view Citi’s Environmental, Social and Governance (ESG) Report at


Citi, the main international financial institution, has roughly 200 million buyer accounts and does enterprise in additional than 160 international locations and jurisdictions. Citi gives customers, companies, governments and establishments with a broad vary of monetary services, together with shopper banking and credit score, company and funding banking, securities brokerage, transaction providers, and wealth administration.

Extra data could also be discovered at | Twitter: @Citi | YouTube: | Weblog: | Fb: | LinkedIn:

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