Social Finance Impact First Fund

Our Approach

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Across the country, entrepreneurs are developing promising new solutions to expand economic opportunity. Yet many of these impact-first investments struggle to access capital, because they do not fit within traditional philanthropy or conventional investment markets. 

The Social Finance Impact First Fund was created to change that. The Impact First Fund is a professionally managed, diversified investment vehicle that brings flexible, risk-tolerant capital to impact-driven business models. The Fund offers investors a disciplined, streamlined way to put capital to work for impact.

Our Goals: 

  • Advance economic opportunity at scale by investing in solutions that sustain communities, improve income generation and financial stability, and create meaningful opportunities for wealth-building 
  • Back the next generation of entrepreneurs and fund managers developing solutions often overlooked by traditional investors 
  • Provide investors with a cost-effective, streamlined pathway to participate in impact-first investing 
  • Build the field of impact-first investing by leveraging our experience and institutional knowledge to demonstrate what works, and to bring in new philanthropists 

We invest across direct and fund-based strategies designed to deliver impact and durable financial returns across the following dimensions of economic opportunity:  

  • Increase Income: Investments in entrepreneurs and small businesses supporting income generation and job creation. 
  • Build Wealth: Strategies that enable individuals and families to achieve long-term financial security through homeownership and business ownership. 
  • Strengthen Communities: Investments that reduce cost burdens and increase stability for households, including access to child care, and climate solutions that reduce energy costs and build resilience. 

Social Finance is a national nonprofit and registered investment adviser (SF Advisers, LLC).

Featured Investments

See All Work

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Blackstar Stability Distressed Debt Fund

A real estate investment fund supporting and preserving single-family home ownership and building wealth

A caregiver in scrubs interacts with three children at a table, helping them play with toys and modeling clay in a brightly lit classroom.

Care Access Real Estate

A private real estate fund focused on addressing the critical shortage of quality licensed child care in the United States

Two construction workers wearing safety vests and helmets use shovels to dig at a work site in front of residential houses.

Apis & Heritage

A private credit and impact investing platform dedicated to building wealth for low- and moderate-income workers through employee ownership.

I was excited by the Impact First Fund because it provided an opportunity to put money to work with a professional investment team in ways that I could not do on my own. It’s a sustainable model, since you can have a return on your capital, and you can redeploy that money over time.

Pam Choney, Social Finance Board Chair, recommended a recoverable grant to the Impact First Fund through a DAF.

No compensation was provided in exchange for testimonial.

Pamela Dippel Choney, an older woman with short white hair, stands gracefully in a teal blouse against a softly blurred indoor backdrop.

Explore Impact First Fund Investments

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Impact First Fund Quarterly Reports

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