On April 25th, The Chicago Community Trust, the John D. and Catherine T. MacArthur Foundation, and Calvert Foundation announced the launch of Benefit Chicago, a collaboration that aims to mobilize $100 million in impact investments for nonprofits and social enterprises working throughout the Chicago region.
Prior to the launch of Benefit Chicago, MacArthur and The Trust commissioned research to better understand the local need for impact capital. Demand-side research found $100-400 million in unmet need over the next five years, while supply-side analysis found increasing interest among investors in providing impact-first capital to the region. Research also found that the landscape for the supply and demand of impact capital in the region is fragmented, calling for an increased role for intermediaries to “bridge the gap” by aggregating pools of impact capital and connecting demand to supply.
Next Street is proud to have supported the development of the final report, Bridging the Gap, by helping to synthesize the findings and key learnings from the previously conducted research. Read the Next Street-authored report here.