Opportunity Finance Network Directs Twitter Investment in CDFIs | Experience | Faegre Drinker Biddle & Reath LLP

Opportunity Finance Network (OFN) is seeking to raise $1 billion in capital to be invested in the most underserved individuals and communities in America through its Finance Justice Fund, a new socially responsible investment launched in November 2020 and into which Twitter is contributing $100 million.

Faegre Drinker is representing OFN, which acts as the principal lender to, as well as the umbrella organization and industry association for Community Development Financial Institutions (CDFIs), in this endeavor. The Finance Justice Fund is intended to channel transformative capital from prominent corporate and philanthropic investors to the CDFIs leading the charge to deploy capital to and on behalf of businesses and individuals historically denied access to commercial credit markets in an effort to address long-standing issues such as disinvestment, the racial wealth gap and persistent poverty. As the first corporate investor in the Finance Justice Fund, Twitter is committing $100 million to the fund for long-term, low-cost loans, making a $1 million grant and ongoing contributions.