Citi Impact Fund Commits to Investing $25 Million in Companies Bringing Innovation to Housing Access and Affordability

This commitment is part of Citi’s Blueprint for Housing Opportunity initiative — a $60 billion commitment to enhance U.S. housing affordability and help create and preserve 250,000 units over five years

NEW YORK--(BUSINESS WIRE)--Today, as part of its five-year Blueprint for Housing Opportunity initiative, the Citi Impact Fund announced that it will invest $25 million in companies propelling innovative solutions for housing access, supply and affordability in communities nationwide. These investments will support entrepreneurs and leaders at the forefront of this work, who are leveraging technology to drive innovation across the housing ecosystem — from AI-enabled platforms that help contractors build more efficiently to financial technology solutions that reduce barriers to homeownership for first-time homebuyers.

“We've witnessed innovation transform countless industries, from healthcare to financial services, and it’s time we bring that same energy and ingenuity to the housing space,” said Edward Skyler, Head of Enterprise Services and Public Affairs at Citi. “We need to harness the same entrepreneurial spirit which has driven America’s leadership in AI and technology to unlock that innovation and show that lasting commercial success and community impact can go hand in hand. In this case, that’s helping more Americans access homes they can afford.”

Since its launch in 2020, the Citi Impact Fund has identified, invested in and supported double-bottom line companies that are building solutions for economically vulnerable Americans across four areas: social infrastructure, financial resilience, future of work and climate resilience. This has included innovative companies breaking down barriers across the housing continuum. Previous investments range from a construction technology company that leverages large-scale 3D home printing to lower construction costs to a technology-enabled housing marketplace that connects renters to long-term, affordable housing opportunities within existing housing stock.

With this commitment, the fund will seek investments across a broad range of solutions. Examples may include:

• Construction technology that improves productivity and lowers costs.
• Financial technology solutions that reduce barriers to homeownership and affordability.
• AI-enabled platforms that help contractors build more efficiently, automating administrative tasks like permitting.

These new investments will support Citi’s Blueprint for Housing Opportunity initiative, which builds on the firm’s extensive track record of affordable housing finance. As part of this broader initiative, Citi and the Citi Foundation will:

• Finance $60 billion in capital over five years for the acquisition, construction, rehabilitation and permanent long-term financing of housing that’s affordable for Americans.
• Deploy $50 million in Citi Foundation philanthropic grants to non-profits addressing local housing challenges, supporting the financial health of residents and investing in research that helps identify scalable solutions.
• Advance public policy and advocacy efforts that help enhance supply, such as the Low-Income Housing Tax Credit program.

For more information on this commitment and the larger initiative, visit the Blueprint for Housing Opportunity website. Earlier this year, Citi was named the leading financier of affordable housing for the 16^th consecutive year.

About the Citi Impact Fund

The $500 million Citi Impact Fund was first launched in 2020, born out of the belief that impact investing — investing in innovative, mission-driven companies — could play a meaningful role in advancing economic opportunity. The fund identifies, invests in and supports the growth of "double-bottom line" U.S.-based companies driving market-centric, often technology-enabled, solutions to improve affordability, access and community resilience at scale. Investments are focused on companies supporting economically vulnerable Americans across four areas: social infrastructure, financial resilience, future of work and climate resilience. To date, the Citi Impact Fund has invested in 57 companies and funds and has allocated more than $210 million in capital. The fund is managed by the Community Investing and Development team, where it sits alongside the Citi Foundation, the company’s primary philanthropic vehicle.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi