Shamrock Capital Advisors, an investment arm of Roy E. Disney, announced Thursday it has closed a new $104 million fund that will invest in low-to-moderate income neighborhoods.

While making a profit for its investors, including major banks and insurance companies, the Genesis Real Estate Fund II aims to stimulate economic development activity in depressed areas throughout Southern California.

The fund follows on the success of the original Genesis Fund, launched in 2000, that facilitated $250 million in retail, industrial, mixed-use and office developments and was responsible for the creation of 5,000 jobs throughout L.A. County.

Investing in low-income areas and making profits aren’t mutually exclusive, said Shamrock Managing Director Mark Schaffer in a statement.

“The success of Genesis has shattered those myths,” he said. “We’ve been able to achieve our community goals, on one hand, notably job creation and retention, and profitable real estate investment on the other.”

The Genesis Real Estate Fund II will provide gap financing to developers, in the form of equity, preferred equity or mezzanine debt on projects from $10 million to $80 million. Shamrock will also assist its partners with deal origination, financial structuring, feasibility studies, project streamlining and relationship consulting.

Shamrock Advisors is an affiliate of Burbank-based Shamrock Holdings of California Inc., the investment arm of the Roy E. Disney family.