Specialty financial administrator NES Financial announced today that it has contracted to provide its purpose-built Opportunity Zone Fund Administration services to Arctaris Impact Investors — a Boston-based impact investment firm focused on creating jobs in small-to-medium operating businesses in manufacturing, renewable energy, telecom, and real estate.

The Arctaris Opportunity Zone Fund, unique in its capital structure, blends public capital from federal and state government agencies with private funding from institutional investors and foundations, including Michigan-based Kresge Foundation. In addition to creating jobs across Opportunity Zones located in states including Michigan, Ohio, Maryland, Maine, and Utah, Arctaris plans to create affordable housing for the workforce of the businesses it invests in.

“Our firm has been investing in low-income areas in the U.S. for more than a decade and we, along with our investors, understand the importance of social impact. Opportunity Zones are a natural extension of our portfolio of funds and with this new initiative, we expect more investors to be interested in making a difference with us,” said Jonathan Tower, founder and managing partner of Arctaris. “Our OZ fund is designed and focused on saving and creating jobs for men and women based in rural and urban Opportunity Zones while providing risk mitigation and first-loss protection for investors.”

“Our approach to impact investing is not traditional because of the nature of our previous debt funds.  We were pleased that NES Financial’s purpose-built OZ administration technology could streamline our fund’s unique reporting requirements,” said Ben Bornstein, managing director of Arctaris, who along with Jonathan Tower, joined NES Financial’s OZ webinar as expert panelists on Feb. 12 to discuss social impact.

To read our full press release, please click here.

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