BOSTON–(BUSINESS WIRE)–Arctaris Impact Fund, LP (“Fund”), the flagship debt fund of Arctaris Impact Investors, LLC (“Arctaris”), has obtained a new $10 million warehouse line of credit (LOC) with KeyBank Community Development Lending and Investment (CDLI) through its Community Development Financial Institutions (CDFI) Group.
Archive for the ‘News’ Category
Arctaris Impact Investors Completes Additional Growth Equity Investment in Up To Date Laundry, Sustaining Quality Jobs in Baltimore
BALTIMORE & BOSTON–(BUSINESS WIRE)–Arctaris Impact Investors, LLC (“Arctaris”) is pleased to announce a follow-on growth equity investment in Up To Date Laundry (“UTD”). One of the largest healthcare laundry facilities on the East Coast, UTD provides laundry services to healthcare providers across the mid-Atlantic, including University of Maryland Medical System, Johns Hopkins, and Einstein Medical Center. The investment in UTD is part of the Arctaris Baltimore Program, a $25 million commitment to invest in Baltimore’s underserved neighborhoods, created in partnership with The Abell Foundation and Neighborhood Impact Investment Fund (NIIF) and with support from Erie Insurance (ERIE) through its investment in the Arctaris Opportunity Zone Funds.
Arctaris Impact Awarded $30M of New Markets Tax Credit Allocation by U.S. Treasury’s CDFI Fund for Diversity and Impact Investments
BOSTON–(BUSINESS WIRE)–Arctaris Impact CDE, LLC was awarded $30M of New Markets Tax Credit Allocation (NMTC) by U.S. Treasury’s Community Development Financial Institution Fund to deploy capital into economically distressed communities and businesses. Arctaris will use its NMTC allocation to make flexible loans to minority-owned or controlled companies and other borrowers across real estate or operating businesses in the country.
Arctaris Releases Annual Impact Report, Achieving Record Growth
BOSTON–(BUSINESS WIRE)–Arctaris Impact Investors, LLC (“Arctaris”), the largest impact-focused Opportunity Zone fund manager nationally1, released its 2021 Arctaris Impact Report: Resilience, Recovery, Revitalization. Arctaris made nine new investments and supported existing portfolio companies to weather the COVID-19 storm, expanding economic, social, and environmental impact in underserved communities. The impact report showcases Arctaris Impact’s commitment to creating and retaining living-wage jobs, racial equity, expanding access to critical products and services such as affordable broadband internet, healthy food, and housing, promoting diversity and inclusion, and advancing renewable energy projects and businesses.
Arctaris Announces Bank of America as Investor in New $25M Regional Opportunity Zone Program Focused on Diversity, Equity, Inclusion, and Community Revitalization
BOSTON–(BUSINESS WIRE)–Arctaris Impact Investors, LLC (“Arctaris”) is pleased to announce a recent investment from Bank of America (“BofA”) into the Arctaris Opportunity Zone Fund 2022. The investment will help spur a new Arctaris place-based investment program focused on the greater Hartford area with emphasis on diversity, equity, inclusion, and community revitalization.
Governor Mills Applauds Public-Private Partnership to Bring Fiber Broadband to Five Maine Communities
BOSTON, MA, February 3, 2022 — Arctaris Impact Investors, LLC (“Arctaris”) announces plans to build
new fiber broadband networks in economically distressed areas, including Opportunity Zones, throughout
Maine. The network will span across South Portland, Belfast, Millinocket, East Millinocket, and Medway
and will pass approximately 12,000 residential and business premises, providing these underserved urban,
suburban, and rural communities with access to affordable, inclusive, and high-speed broadband.
Arctaris Broadband Press Release
Arctaris to Construct Broadband Fiber Network in 5 Underserved Maine Communities; Key Program of Broader National Digital Impact Platform
GWI, Arctaris Impact and FAME Partner to Build Fiber Broadband Networks in 5 Maine Opportunity Zone Communities
Biddeford, ME, January 31, 2022 – Biddeford, Maine- Great Works Internet Partners (“GWI”), Arctaris Impact Investors, LLC (“Arctaris”), and the Finance Authority of Maine (“FAME”) announced plans today to build new fiber broadband networks for five communities in Maine, including South Portland, Millinocket, East Millinocket, Medway and Belfast. The projects are made possible through a partnership with FAME, which is providing a loan and commercial guarantee support to the project.