North Sky Capital, a provider of impact investing, has closed its third sustainable infrastructure fund with $200 million raised to support the development and construction of sustainable assets in low income communities.

The firm launched its low income communities investment initiative in 2019 with its vehicles: Infrastructure Investment Fund, a qualified opportunity fund focused on clean energy, waste and water projects, and National Impact Fund, a qualified community development segment focused on clean energy, green manufacturing and sustainable agriculture projects. To date, the firm has financed four projects: Project Golden Bear (IIF), Coastal Growers (NIF), Project North Farm (IIF), and Seaboard Energy (NIF).

“We created IIF and NIF to make investments via the Opportunity Zones and New Markets programs, respectively,” said North Sky managing director Danny Zouber. “Congress designed these programs to attract long-term private investment to foster economic development in underprivileged areas.”

“We’re very pleased with the progress of the IIF and NIF portfolios,” added North Sky managing director Adam Bernstein. “The Opportunity Zones and New Markets programs are in line with our main sustainable infrastructure strategy, which is focused on developing and constructing lower middle market projects nationally.”