Two Sigma Impact, a private equity business, has closed its inaugural Impact Fund with a total of $677 million in capital commitments to the fund and its managed co-investments.

Two Sigma Impact aims to use data science and technology to drive financial returns. It invests in human capital-focused businesses where employees are necessary to the delivery of a service or a product. The fund has made six investments in companies spanning healthcare, consumer, education and training and business services. As of April 1, 2023, the fund has invested approximately $370 million. Two Sigma Impact has also launched the Good Job Score Assessment Tool, which is designed to assess job quality in a quantitative manner.

“This successful fundraise underscores their conviction in Two Sigma’s differentiated approach to impact investing through our focus on job quality and drawing on our firm’s deep expertise in data science and technology,” states Warren Valdmanis, a partner at Two Sigma Impact.