Grants and tax dollars alone have historically not been enough to address our most challenging problems. To achieve the scale of resources needed to drive meaningful change, we need to creatively blend private capital with public and philanthropic resources.
To better meet the needs of cities and improve the lives of low-income people, we are harnessing capital as a powerful tool. Capital innovation work at Living Cities seeks to do three things:
- Help cities align private capital with public and philanthropic resources, including through a set of tools to help communities to assess their capital absorption capacity ;
- Create pools of flexible capital, including through our Catalyst Fund, that can be deployed to build new financial tools and approaches;
- Promote the development of a robust urban impact investing industry that facilitates investment in human development as well as investments in physical infrastructure. In service of this, we are, for example, investing in two of the nation’s four major Pay for Success initiatives.
As we continue to develop, implement, and test new strategies, we will share our learning and exchange ideas with partners in the field.