Meet the Grunin Prize Finalists: Boston Impact Initiative Fund II

In this episode, Zvia Schoenberg, executive director of the Grunin Center, speaks with Betty Francisco, CEO of Boston Impact Initiative, and Carl Valenstein, partner at Morgan, Lewis, & Blockius LLP,  to discuss their project: Boston Impact Initiative Fund II. BII Fund II is a $22M fund democratizing investment via a tiered note structure. It allows non-accredited individuals to invest $1,000 alongside accredited investors. Using integrated capital, it invests in social enterprises advancing inclusion, climate resilience, worker power, and community-owned and controlled New England real estate. The tiered approach enabled nearly 240 investors to participate. BII's model blends debt financing with flexible terms, patient equity, and grants.To learn more about the project, you can visit the websites below:Grunin Prize Finalists: https://www.law.nyu.edu/centers/grunin-social-entrepreneurship/grunin-prize/2026Boston Impact Initiative: https://bostonimpact.org/