Business Law
Oct. 30, 2024
The Benefit Fund: A new frontier for impact investing
The Delaware statutory public benefit limited partnership, established in 2019, addresses key challenges in impact investing. In 2023, the "Benefit Fund" was launched as the first venture capital fund to utilize this structure and represents a significant advancement in impact investing.
Jon Tong
Senior Associate, Cole-Frieman & Mallon LLP
Frank J. Martin
Partner, Cole-Frieman & Mallon LLP
As the impact investing landscape continues to evolve, fund managers and impact investors are increasingly seeking structures that align with their dual objectives of financial returns and social impact. The Delaware statutory public benefit limited partnership was codified in 2019, and the "Benefit Fund," the first-ever venture capital fund to use the statute as its organizing structure, was first developed in 2023. The "Benefit Fund" offers a promising solution to address t...
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