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A Boston-based investment firm is teaming up with an American Cancer Society affiliate to try to raise $5 billion for social impact investments over the next five years, the Boston Globe reports.
Tideline Advisors and the American Cancer Society's BrightEdge arm say they're hoping to work with insurers, foundations, and others who have billions of dollars at their disposal to try to make a difference in the communities in which they do business.
According to a press release, "social impact" is defined as "the conditions in which people are born, grow, live, and age."
For example, cancer is the No.
1 cause of death in the US.
"By nature, health organizations are by nature and definition mission-oriented and collectively have billions of dollars that, through impact investment, could drive an unprecedented scale of impact," says Mikelle Moore, a co-founder of Tideline, in the press release.
The investment firm says it's possible to make a significant difference in the lives of millions of people by investing in areas such as health care, education, and climate change.
BrightEdge, for its part, says it wants to make a difference in the communities in which it does business.
For its part, the American Cancer Society says it wants to
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