ImpactAlpha, July 28 – The MacArthur Foundation, Rockefeller Foundation and Omidyar Network formed the Catalytic Capital Consortium, or C3, to expand the use of patient, risk-tolerant, concessionary, and flexible capital (see, “Catalytic capital: Reshaping risks and rewards to make markets work”).
The consortium awarded $1.2 million in grants to the Global Impact Investing Network, Mission Investors Exchange, Convergence and Toniic to “identify and share catalytic capital best practices, develop informational resources, host convenings, and undertake other activities that strengthen and expand the use of catalytic capital.”
The consortium plans to 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 (see, for example, “Call No. 28: For these wealthy families, deploying catalytic capital for impact is a privilege and responsibility”).