Local Capital Markets acquires ImpactPHL's OptImpact to scale place-based impact investing

Local Capital Markets, a partnership of the Untours Foundation and Zenith Wealth Partners, bought OptImpact from ImpactPHL. The grant-funded pilot aimed to move $10 million into Philadelphia social enterprises in 18 months and moved $12 million. A new for-profit C corp will run it on subscriptions beyond Philadelphia, seeking $10 billion over a decade.