ImpactAlpha, November 23 — The Catalytic Capital Consortium, or C3, has awarded nearly $1.4 million in grants to Village Capital, Pacific Community Ventures, Opportunity International, the Impact Investing Institute and five other organizations to expand the use of the patient, risk-tolerant, concessionary and flexible capital that is often needed for high-impact ventures and markets.
“We are focusing on action-oriented projects that can translate into stronger deployment of capital while addressing deeply-embedded capital gaps and the needs of local communities,” said MacArthur Foundation’s Urmi Sengupta.
Chicago-based Opportunity International will use the grant to de-risk micro and small loans for farmers and schools in low-income countries in Latin America, Sub-Saharan Africa and India. Village Capital will use the grant to create a digital matching platform for venture founders and investors for different types of financing.
“These infrastructure projects are advancing solutions that support more efficient and effective delivery of catalytic capital,” said Chris Jurgens of Omidyar Network.
MacArthur and Omidyar, along with the Rockefeller Foundation, launched C3 in 2019 to expand the use of tools such as loan guarantees, first-loss reserves, low-interest loans and otherwise flexible capital.
Invest Appalachia will blend capital to catalyze community investment in the region. Pacific Community Ventures will develop a public, private and philanthropic model to catalyze capital for BIPOC entrepreneurs and community wealth-building.
The consortium will award another round of grants in coming months. Last year, the consortium said it would award up to $10 million in grants over three years.
The Catalytic Capital Consortium sponsors ImpactAlpha’s ongoing coverage of catalytic capital. Check out our dedicated landing page for dozens of deals, people and strategies for using patient, risk-tolerant, concessionary, and flexible capital to drive deeper impact.