Popular Impact Fund

Established in 2022, Popular Impact Fund is a corporate venture capital initiative by Popular, Inc., focusing on minority investments in early-stage companies that offer innovative solutions to social and economic challenges. The fund primarily targets businesses developing strategic technology for the fintech sector and those generating positive social impact within communities.

The fund typically invests between $250,000 and $1 million in companies or entities in the early stages of development. Its portfolio includes companies such as Raincoat Insurance, Inc., which provides parametric insurance technology; Greenwood, Inc., a digital banking platform committed to serving African-American and Latino communities; and Carbonwave, specializing in the development of biomaterials based on sargassum or seaweed. ([newsroom.popular.com](https://newsroom.popular.com/English/press-releases/press-release-details/2023/Popular-Impact-Fund-achieves-significant-impact-one-year-after-establishment/default.aspx?utm_source=openai))

By November 2024, Popular Impact Fund had invested a total of $9.3 million in 12 companies and two fintech funds. Notable investments include Ironhack, a global technology school equipping professionals with skills for an AI-driven world; Ecolectro, a renewable energy company focused on developing clean, scalable, and low-cost hydrogen; and Cultimar Technologies, which developed the first known methodology for large-scale breeding of red snapper. ([newsroom.popular.com](https://newsroom.popular.com/Spanish/comunicados/comunicados-de-prensa/2024/Popular-Impact-Fund-demuestra-ser-una-fuerza-significativa-en-el-mbito-de-la-inversin-social/default.aspx?utm_source=openai))

The fund's mission is to strengthen the entrepreneurial ecosystem by supporting innovative companies that drive economic and social development both locally and in the United States. By investing in these companies, Popular Impact Fund aims to foster innovation and sustainability, contributing to the growth and prosperity of the communities it serves.