The Week’s Big 9

1. New rules of the road for stakeholder capitalism. More than 50 business leaders and investor groups are seeking White House backing for structural reforms in the capital markets to address the economic recovery, racial equity and climate change. B Lab and the U.S. Impact Investing Alliance are leading the advocacy efforts and calling for a White House Initiative on Inclusive Economic Growth in the National Economic Council. Argues B Lab’s Andrew Kassoy, “You can’t have stakeholder capitalism if you don’t have stakeholder governance.” Onward. 

The Week’s Agent of Impact

Kathryn Finney, Genius Guild. The entrepreneur and investor’s answer to systemic economic exclusion of Black, Indigenous and other people of color: build an ecosystem that intentionally fosters their participation. Finney, who has a background in both fashion and epidemiology, previously founded DigitalUndivided, which supports female founders, and The Donnie Fund, which provides micro investments to thousands of Black women-owned businesses. Genius Guild will build and invest in Black-led companies serving Black communities on the way to global scale (see, “Genius Guild scores $5 million financing to back Black-led tech ventures”). Finney points to the success of Richelieu Dennis’ Sundial Brands, the parent company of Shea Moisture, which was acquired by Unilever. “We know that products and services that first achieve success by serving Black communities often reach significant scale as they expand outside of our community,” Finney writes on Medium. 

The Week’s Dealflow

BlackRock Real Assets closes $4.8 billion green energy fund. With backing from 100 institutional investors, Global Renewable Power Fund III targets what BlackRock sees as a $10 trillion investment opportunity in the transition to net-zero energy. About 80% of all global electricity capacity installed last year was renewable, according to IRENA

The Week’s Talent

Founding partners Suprotik Basu and Amer Baig are leaving Blue like an Orange to focus on health sector resilience and COVID recovery… Bella Gangnes, ex- of Lighter Capital, joins Founders First Capital as director of investments… Caitlin McLaughlin, ex- of PNC Financial Services Group, joins Lafayette Square as chief people officer… MaryKate Bullen departs New Forests for a new opportunity in forestry investment.

The Week’s Jobs

Arctaris Impact Investors is recruiting a director of community impact and engagement… Community Investment Management is searching for both U.S. and emerging market-focused investment officers and other roles… Notley seeks a vice president of business development in Austin… Equality Fund is recruiting a senior manager of investment strategy in Ontario… Blue Haven Initiative is looking for a strategic analyst… REDF is hiring a senior loan associate in L.A. or San Francisco.

Editor's Picks

Impact Briefing: Week of April 9th

Host Monique Aiken speaks with B Lab’s Andrew Kassoy about why impact-driven businesses and investors are stepping up their policy advocacy.

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