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Cambridge Savings Bank, a Massachusetts bank with $5 billion in assets, said Wednesday it invested $500,000 in a socially responsible venture capital fund managed by CEI Ventures. The investment in Coastal Ventures V LP will provide capital to help business owners in underserved communities deal with workforce challenges. The Cambridge, Mass.-based bank cited efforts by the fund to create good jobs with basic benefits; support environmentally sustainable enterprises; and provide capital to companies and regions that have challenges accessing equity. “These jobs offer a better living wage an...

Read Article CEI Ventures announced Thursday it closed its fifth venture capital fund, the Good Jobs Fund, at $14.8 million. The fund was sourced from 32 investors made up of nine individuals, two foundations, four community economic development entities and 17 banks and is similar to the previous four funds, but has a sharper focus on high quality jobs. Similar to closing on a house, closing the Good Job Fund was the final legal step before starting investments. Coastal Enterprises, Inc. Managing Director Nat Henshaw said the venture capital firm is looking to invest in a broad range of bu...