Delaware has created a novel type of investment fund that, if shown to be successful, may herald a new trend in impact investing. These “public benefit” funds are statutorily designed to prioritize both societal benefit and financial gain.
They serve as a counterpart to the better-known benefit corporation, which also combines a for-profit entity with an intention to make a positive impact in the world. To date, only one fund (Samaritan Partners Fund I LP) has taken advantage of this new form—but Samaritan only held its initial closing in April, so it is early days.
