Jessica Pothering | ImpactAlpha
The St. Paul, Minnesota-based foundation is seeking proposals to set up and operate the new fund
The St. Paul, Minnesota-based foundation with $950 million in assets is seeking proposals to set up and operate a new fund that invests in social businesses in Minnesota, North Dakota, South Dakota and the 23 Native nations in those areas.
The goal: Establish Minneapolis-St. Paul as a destination to start and grow businesses seeking both social impact and financial returns. The foundation will seed the fund and aims to attract other investors.