Connect Humanity Announces New Impact Fund With Support From Microsoft To Tackle Appalachia’s Digital Divide

Connect Humanity, a non-profit impact investor, is collaborating with Microsoft to support high-speed internet access and adoption in underserved Appalachian communities. Connect Humanity’s IDEA Fund (Investing in Digital Equity Appalachia) plans to invest in community-focused internet service providers which are best placed to meet the digital needs of residents and businesses in Appalachia’s unserved areas. Connect Humanity aims to convene a diverse group of capital partners including Community Development Financial Institutions (CDFIs), banks, impact investors, and foundations to meet this need through IDEA. Microsoft has committed “first loss” capital as a credit enhancement in IDEA Fund. Connect Humanity intends to use this blended capital approach to offer financing at affordable rates and flexible terms that enable ISPs to build in high-cost and/or low-income areas on a sustainable basis.