A solar panel technician working on solar panels.​

BlackRock Impact Opportunities

BlackRock’s social impact investment platform, enabling clients to invest in direct private market opportunities that accelerate positive economic outcomes for undercapitalized communities. BIO seeks to generate strong risk-adjusted market-rate returns by focusing on investment themes that are drivers for economic growth.

How We Invest

BIO employs a rigorous process to identify compelling investment opportunities that can deliver attractive risk-adjusted returns while driving meaningful socio-economic change at scale.​
Dollar on leaf

Investing in Economic Mobility​

Seeking to unlock latent economic growth through investments in undercapitalized communities​
Tools set

Powered by BlackRock​

Leveraging the investment expertise, scale, and convening power of the BlackRock Platform to deliver capital solutions
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Active Partnership​

Collaborating with management teams and stakeholders to accelerate the growth of high-potential mission-driven companies​
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Passion for Performance​

Committed to targeting differentiated risk-adjusted financial returns and durable social impact for our investors​

BlackRock’s purpose is to help more and more people experience financial well-being. We designed BIO to pursue opportunities that have historically been undercapitalized and, as a result, may offer differentiated sources of return.

Larry Fink
Larry Fink
CEO, BlackRock

Impact Themes​

Our team has identified six themes that represent the overlap between social megatrends that are drivers of economic growth, the needs of undercapitalized communities, and the most compelling opportunities in capital markets. While we focus most of our efforts on these themes, these are not exclusive.​
A female cashier and a male barista in a cafe​
  • Limited access to affordable healthcare exacerbates disparities and leads to poorer health outcomes and increased financial strain on undercapitalized communities. We finance health & wellness solutions and provide capital to organizations and facilities to promote the holistic wellbeing of communities.

  • The absence of affordable financial services leaves undercapitalized communities vulnerable to predatory lending and financial instability. Improving financial inclusion is essential for building financial resilience, enabling wealth accumulation, and fostering economic opportunities. We focus on increasing access to capital and affordable financial services for undercapitalized households and businesses.

  • The shortage of affordable housing is a national crisis. The high cost of housing, especially for undercapitalized communities, leaves fewer resources for food, healthcare, education, and other necessities. We aim to increase the supply of and access to affordable housing, and increase the participation of undercapitalized developers in real asset development.

  • Without reliable internet access, undercapitalized communities face barriers to information, education, and economic opportunities, hindering their ability to participate in the digital economy and access essential services. BIO is committed to promoting digital connectivity and information architecture serving undercapitalized communities.

  • Education significantly influences an individual’s lifetime earning potential and economic mobility. Undercapitalized communities are less likely to have access to quality education and instructional content. By investing in education, we aim to improve access to, increase participation in and increase affordability of quality education and workforce training across the cradle-to career continuum.

  • The shift toward a sustainable economy may overlook undercapitalized communities, leaving them vulnerable to job losses and environmental impacts, necessitating investment to ensure equitable participation and benefits in this transition. BIO invests to increase the adoption of renewable energy and mitigating the negative impacts associated with the transition to a low-carbon economy.

Impact Measurement and Management (IMM)​

BIO’s impact measurement and management framework is consistent with BlackRock’s approach to impact investing in seeking to generate positive, measurable outcomes alongside a financial return. By integrating data-driven insights and stakeholder feedback, we measure the effectiveness of our initiatives' and continuously refine our approach.
Magnifying glass

Transparency​

We seek to ensure that our IMM process is transparent, repeatable, and auditable.
Measurable tape

Measurable

We aim to identify measurable impact indicators throughout the investment process.
Globe stand

Industry-aligned​

We adopt evolving industry-leading frameworks wherever relevant to our investment approach.​

Strategy in Action​

Explore our investment strategy in action. These videos demonstrate the significant impact our portfolio companies are making within their respective communities.

Portfolio: Conexon | Closing the digital divide for rural communities

0:06
And then now we've launched Connect, which is the last piece of the puzzle, which is to operate the fiber of the home networks and provide world class Internet service, partnering with electric cooperatives and do everything that a broadband provider would do.

0:22
The Co-op will own 100% of the network, Connexon Connect will operate the network and they're going to do the design, the engineering, help us with construction.

0:31
Connexon Connect will help us manage through that process without us having to add additional staffing.

0:42
Then we talked to other co-ops across the country who have done projects with Connexon.

0:46
There wasn't anyone we spoke to that didn't have good things to say about their relationship.

0:51
And so we felt more and more like that was the partner that we needed to continue to talk to.

0:57
Even just again in the importance of high speed Internet today.

1:00
We've seen how our digital society has advanced and we're advancing with it.

1:05
And so we are so happy and excited to be again, working alongside Connects on to be a part of this process and to really provide a vital service for our members and our community.

1:17
Central Georgia EMC doesn't have any particular competency in terms of being an Internet service provider, so we wanted a partner who was going to take care of that part of the project for us.

1:29
Connexon Connect is the retail broadband provider.

1:33
The proposal that Jonathan had come to us with in partnership with Connexon truly lets the electric cooperative focus on running a business that they know and letting Connexon run a business that will enhance the membership and not take away resources from the cooperative.

1:54
It's reassuring to know you're partnering with somebody that almost seems like they've got this down to a science and having that partnership with somebody that can help guide us down this path is is essential.

2:05
After talking with several other providers about potential partnerships, we felt a lot more comfortable talking with Connects on because we felt like they understood who we served in in rural America.

2:22
And we are working to make sure that everyone has that equal and affordable access to be a part of this process.

2:29
It really humbles you in a lot of ways because we are implementing a service in collaboration with Connexon that will not only affect, you know, my generation, but generations to come.

2:48
We do all of those things that every other Internet service provider does, but with a difference.

2:55
We do it in partnership with the local community, namely the electric Co-op that makes all the difference.

Video Playlist

Portfolio: Conexon | Closing the digital divide for rural communities

0:06
And then now we've launched Connect, which is the last piece of the puzzle, which is to operate the fiber of the home networks and provide world class Internet service, partnering with electric cooperatives and do everything that a broadband provider would do.

0:22
The Co-op will own 100% of the network, Connexon Connect will operate the network and they're going to do the design, the engineering, help us with construction.

0:31
Connexon Connect will help us manage through that process without us having to add additional staffing.

0:42
Then we talked to other co-ops across the country who have done projects with Connexon.

0:46
There wasn't anyone we spoke to that didn't have good things to say about their relationship.

0:51
And so we felt more and more like that was the partner that we needed to continue to talk to.

0:57
Even just again in the importance of high speed Internet today.

1:00
We've seen how our digital society has advanced and we're advancing with it.

1:05
And so we are so happy and excited to be again, working alongside Connects on to be a part of this process and to really provide a vital service for our members and our community.

1:17
Central Georgia EMC doesn't have any particular competency in terms of being an Internet service provider, so we wanted a partner who was going to take care of that part of the project for us.

1:29
Connexon Connect is the retail broadband provider.

1:33
The proposal that Jonathan had come to us with in partnership with Connexon truly lets the electric cooperative focus on running a business that they know and letting Connexon run a business that will enhance the membership and not take away resources from the cooperative.

1:54
It's reassuring to know you're partnering with somebody that almost seems like they've got this down to a science and having that partnership with somebody that can help guide us down this path is is essential.

2:05
After talking with several other providers about potential partnerships, we felt a lot more comfortable talking with Connects on because we felt like they understood who we served in in rural America.

2:22
And we are working to make sure that everyone has that equal and affordable access to be a part of this process.

2:29
It really humbles you in a lot of ways because we are implementing a service in collaboration with Connexon that will not only affect, you know, my generation, but generations to come.

2:48
We do all of those things that every other Internet service provider does, but with a difference.

2:55
We do it in partnership with the local community, namely the electric Co-op that makes all the difference.

Portfolio

View BIO’s seven most recent investments below, each exemplifying our dedication to creating long-term value, operational excellence, and making a meaningful impact in undercapitalized communities nationwide.​2

Buildings under construction​
GHI JV​

GHI JV

Joint venture to finance the construction of affordable multifamily housing

Industry: Real Estate
Headquarters: Omaha, NE
Invested: 2024
Impact Theme(s): Housing

Read the press release

Solar panel in the roof of a house​
IGS Energy JV

IGS Energy JV

Joint venture to deploy residential solar energy projects in underserved communities

Industry: Renewable Energy
Headquarters: Dublin, OH
Invested: 2024
Impact Theme(s): Inclusive Transition

Road with electricity poles​
Conexon

Conexon

Builder and operator of Fiber-to-the-Home networks in rural America

Industry: Digital Infrastructure
Headquarters: Kansas City, MO
Invested: 2023
Impact Theme(s): Digital Connectivity

Female kid at the dentist ​
Lone Peak Dental

Lone Peak Dental Group

Pediatric Dental Service Organization focused on underserved communities

Industry: Dental Care
Headquarters: Englewood, CO
Invested: 2023
Impact Theme(s): Health & Wellness

Read the press release

Women picking apples at the produce section of the supermarket
Heritage Grocers Group

Heritage Grocers Group

Grocery retailer focused on providing healthy, affordable produce in food deserts

Industry: Grocery Retail
Headquarters: Ontario, CA
Invested: 2023
Impact Theme(s): Health & Wellness

Men working in the middle of solar panels​
Indian Energy​

Indian Energy​

Utility-scale renewable energy generation and long duration battery storage

Industry: Renewable Energy
Headquarters: Alpine, CA
Invested: 2023
Impact Theme(s): Inclusive Transition

Read the press release

Men with a clapperboard​
MACRO

MACRO

Award-winning, diversified media company dedicated to storytelling that defines culture

Industry: Media & Entertainment
Headquarters: Los Angeles, CA
Invested: 2022
Impact Theme(s)​: Inclusive Media, Financial Inclusion

Read the press release

News​

We are all in

At BlackRock, not only are we committed to our clients’ needs but also to the communities in which we operate. As investors, fiduciaries, and members of society, we believe it is our duty to combine our investment expertise with this focus to generate long-term prosperity.​ We are committed to being part of the solution. Reach out to learn more.
Team together pic

Team

Ladell Robbins​
Managing Director, Head of BIO
Joseph Acevedo​
Managing Director, Co-Head of Investments
Aarthi Sowrirajan​
Managing Director, Co-Head of Investments
Karega Butler
Director, Senior Investor
Derrick Weatherspoon​
Director, Senior Investor
Andrea C. Mayorca
Director, Investor​
Susie Qian​
Director, Investor
Lionel Detchou
Associate
Divya Wodon
Associate
Nicola Lichauco​
Associate​
Tina Gao
Associate​
Damian Levine​
Associate​