Impact Investing Intern

ABOUT BOSTON IMPACT INITIATIVE (BII)

Boston Impact Initiative (BII) is a nonprofit impact investment fund founded in 2013, working to build a regenerative and equitable economy. We invest integrated capital—equity, debt, and grants—in social enterprises and community-owned and controlled real estate to build wealth and asset-building opportunities, especially in diverse communities.

As a new Community Development Financial Institution (CDFI), we currently manage two distinct funds:

• BII Fund I: Established in 2017, deployed $6.9M across 50 enterprises
• BII Fund II: Launched 2022, raised $22M, invested $11M in 26 companies and real estate projects, and is actively raising/deploying capital to small businesses and community-governed real estate projects in Massachusetts and New England

BII also offers impact investing education and training. Through our Advancing Regenerative Capital (ARC) Fellowship, we have trained 90 fund managers from 38 organizations to launch community-based impact funds focused on expanding shared ownership and generational wealth in communities systematically excluded from economic opportunity. We support emerging fund managers through an intensive learning journey focused on integrated capital, fund design, and ecosystem strategy. To date, 27 funds have launched that have deployed more than $12M to diverse small businesses across the U.S.

In 2025, BII launched the First Mover Fund (FMF), a catalytic capital initiative designed to invest in emerging fund managers, particularly those advancing justice-aligned investment strategies and that are historically underrepresented in the asset management industry. FMF deploys flexible capital to help de-risk and accelerate fund development, while strengthening a broader ecosystem of community-rooted investment strategies.

Together, ARC and the First Mover Fund operate as complementary pillars of BII’s approach, building a national pipeline of fund managers and mobilizing catalytic capital to support their growth.

POSITION SUMMARY

The Impact Investing Intern will work directly with BII’s field building team to support the investment activities of the First Mover Fund, while also contributing to the ARC Fellowship’s application and selection process, helping to strengthen the pipeline of fund managers shaping the future of the field. This person will contribute to deal sourcing, diligence, investment memos, market research, and strategic initiatives supporting the First Mover Fund. They will also help BII explore earned revenue streams it could pursue via field-building efforts, and support other BII programs as well as our impact assessment work as needed.

Boston Impact Initiative is seeking an Impact Investing Intern (MBA-level preferred). This role is ideal for a graduate student or early-career professional seeking hands-on experience in impact investing, fund diligence, catalytic capital deployment, and ecosystem research. The intern will function as a member of the field-building team and collaborate with other teams as necessary. This internship offers exposure to mission-driven investing, emerging fund managers, and the broader impact investing ecosystem, as well as the opportunity to work closely with senior leadership at BII.

KEY RESPONSIBILITIES

Investment & Diligence Support

• Support the First Mover Fund investment pipeline, including sourcing and screening potential investment opportunities.
• Conduct due diligence on emerging impact fund managers, including market analysis, impact strategy review, and financial analysis.
• Draft investment memos, diligence summaries, and presentation materials for internal review and investment committee discussions.
• Track deal flow and maintain documentation for potential investments.

Market Research & Field-Building

• Conduct research on trends in impact investing, catalytic capital, and emerging fund managers.
• Support the development of thought leadership and field-building resources related to integrated capital and justice-aligned investment strategies.
• Contribute to research that informs BII’s broader ecosystem strategy and investment priorities.

Strategic Projects

• Support the development of an earned revenue strategy for BII’s educational card game, including market research and distribution opportunities.
• Assist with special projects related to the First Mover Fund launch, including materials for fund communications and investor engagement.
• Help synthesize research and insights into clear presentations and briefing materials for internal and external audiences.
• Contribute to the ARC Fellowship 2026–2027 application and selection process, supporting pipeline development and cohort formation.

Other duties as assigned.

QUALIFICATIONS

Required

• Current MBA student, graduate student, or early-career professional with demonstrated interest in impact investing, finance, social entrepreneurship, or economic justice
• Strong research, writing, and analytical skills
• Ability to synthesize complex information into clear written and visual materials
• Strong attention to detail and ability to manage multiple projects
• Alignment with BII’s mission of advancing racial and economic justice

Preferred

• Prior experience in venture capital, private equity, investment banking, consulting, or impact investing
• Familiarity with investment memos, financial analysis, or diligence processes
• Experience conducting market research or industry analysis
• Interest in emerging fund managers, catalytic capital, and ecosystem building.

INTERNSHIP STRUCTURE

• Start Date: ASAP
• Commitment: ~10–20 hours per week (flexible depending on candidate availability)
• Location: Remote or hybrid with Boston-based team
• Duration: Spring-Summer 2026, with option to extend into the 2026–2027 academic year for the right candidate