When Tom Quinn started raising a new round of cash to support the Western New York Impact Investment Fund, his target was $8 million to $10 million.
But after contributions from Bank of America and M&T Bank, along with new individuals and foundations, he blew past that goal.
The WNY Impact Fund closed recently on $11.55 million in new funding, which it will immediately begin using on new investments for local entrepreneurs.
Quinn, fund president and CEO, said it’s likely the number will rise throughout 2022. But he said it was important to complete the first close now.
“We want to start putting this money to work,” he said. “We have a robust pipeline we’ve been keeping warm and we’re anxious to make some investments.”
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