Investment company Sustainability | Finance | Real Economies (SFRE) has reached a first close with US$40 million in capital commitments for SFRE Fund, an open-ended impact fund focusing on the financial sector. The fund seeks to invest globally in banks that deliver sustainable economic, environmental or social impact. Investors included 15 member banks of the Global Alliance for Banking on Values, a network of financial institutions with a mission to use finance to deliver sustainable development, as well as the Church of Sweden, family office Skopos Impact Fund and philanthropic institution The F.B. Heron Foundation. Asset management firm MicroVest serves as portfolio manager for SFRE investments, while alternative investment fund manager Crestbridge Management manages the fund.