C Citigroup Inc

By Colin Kellaher

Citigroup Inc. (C) on Friday said it has launched a $150 million fund that will invest in private-sector companies that have a positive impact on society.

The New York banking giant said the Citi Impact Fund, which it has launched using its own capital, will actively seek to invest in businesses that are led or owned by women and minority entrepreneurs.

Citi said the fund will invest up to $10 million in "double-bottom-line" companies, or those who are measured by both their financial and social results.

The fund, which Citigroup said complements its environmental, social and governance initiatives, will invest in U.S.-based companies that are working to address the societal challenges of workforce development, financial capability, physical and social infrastructure, and sustainability.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

January 17, 2020 09:44 ET (14:44 GMT)

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