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A Chicago-based investment firm that aims to make a positive social and environmental impact has raised $85 million for a second fund, the Chicago Tribune reports.
The Impact Engine Fund II closed on its second fund last month, bringing the firm's total assets to $240 million.
According to Fortune, Impact Engine is a "pioneering force in impact investing," investing in companies that make a positive social or environmental impact.
The second fund will invest in companies in South Africa, the US, and Europe that are focused on environmental sustainability, economic opportunity, and health equity.
The firm's first fund raised $55 million.
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