### MHIC Closes Social Impact Fund, Supporting Nine Affordable Housing Developments
Massachusetts Housing Investment Corporation (MHIC) has successfully closed its first Social Impact Fund, raising a total of $63.7 million in equity. These funds supported nine developments across Massachusetts, resulting in the creation of 342 affordable housing units.
“Our Social Impact Fund’s success is a testament to the investors who share our vision for economically inclusive communities,” said Sean Beirne, deputy director of capital development. “Their commitment goes beyond capital; they believe in the power of equitable development and the lasting impact it has on families and neighborhoods.”
Since its founding in 1990, MHIC has directed $845 million in investments toward local, socially, and economically disadvantaged businesses, with a strong focus on increasing opportunities for underrepresented entrepreneurs. The Social Impact Fund has furthered this mission by financing projects that stimulate local economies, support small businesses, and expand pathways to economic mobility.
To date, MHIC has invested more than $3.5 billion across 707 developments throughout New England, reinforcing its commitment to fostering economic and social equity in the region.
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