NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, November 12, 2015

Durham-based Investors’ Circle has closed $1 million of its latest $3 million funder, aimed at fueling a particular breed of startup.

It’s the fourth fund closed under Investors’ Circle’s Patient Capital Collaborative funding series. This round, for $1 million, is dubbed “Patient Capital Collaborative ’15.”

The cash goes toward investing in early-stage, innovative companies that, according to the Investors’ Circle website, “are tackling the world’s biggest social and environmental challenges.” Companies in Investors’ Circle’s portfolio aren’t just aimed at making financial profit. There’s also an altruistic component at play.

Cash from past rounds has funded several companies, from solar energy systems support firm Locus Energy ( acquired by software firm Genscape) to Boston Heart Diagnostics (acquired by Eurofins Scientific for about $140 million).