The need for a complimentary private sector financing resource inspired the Allegheny Conference on Community Development to create the Strategic Investment Fund. The Fund's original $40.3 million pool of private capital was created in 1996 to fill financing gaps in critical economic development projects throughout the region. Thirty-three corporations, foundations and individuals helped to capitalize the initial fund. A Second Fund was closed in 2002 with capitalization of $29.7 million provided by 27 Investors, 20 of whom are repeat investors from the original Fund.