Living Cities Blended Catalyst Fund 2022 Annual Report

This report summarizes Living Cities Blended Catalyst Fund’s (“BCF” or the “Fund”) activities during its seventh year of operations, from July 1, 2021, through June 30, 2022 (FY22).

The BCF portfolio is a collection of investments that work to test innovative investment approaches to address the racial wealth gap, shift power within capital systems, and achieve better outcomes for all people in U.S. cities. The latter half of the BCF investments focus on seeking to close racial wealth gaps, specifically by lending to organizations and intermediaries that are:

1. Managed and/or owned by people of color,
2. Finding alternative ways to create income and wealth-building opportunities for people of color, primarily by providing increased access to capital, or
3. Building the ecosystem for entrepreneurs and fund managers of color.

Additionally, the Living Cities Catalyst Funds were named to the ImpactAssets 50 (IA50), an impact investing showcase featuring fund managers that deliver social, environmental, and financial returns, for the eleventh consecutive year in March 2022. The IA50 is the first open-source, publicly published database of exceptional impact investing fund managers. Living Cities has been included in the IA50 every year since IA50’s inception.