Netflix and Goldman Sachs are in vastly different businesses, but in formulating their responses to the racial crisis facing America, these corporations came to a similar conclusion: both bet big on Black-controlled financial institutions. Other corporations should follow their example. Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) led and owned by Black
ImpactAlpha, October 20 – Two new funds aim to streamline pay-for-success (sometimes called social impact bonds) and make it easier for nonprofits to raise impact capital to run and expand their programs. Impact investing advisor NPX structured place-based funds for the San Francisco Bay Area and Colorado to be payors to nonprofit organizations once their
ImpactAlpha, October 20 – Early-stage fundraising is difficult. Finding mission-aligned growth capital can be just as hard. Most of the few impact-oriented private equity funds have come from private equity giants like KKR, Bain and TPG. Chicago-based Impact Engine is aiming to expand the supply of growth-stage impact capital by investing in new managers of
ImpactAlpha, October 19 – Back in July, Axios reported that Clinton was “kicking around the idea” for a venture fund to invest in two sectors most impacted by the global pandemic: health and education. Her firm, Metrodora Ventures, made its first investment in online learning startup Fiveable, which is working to “democratize” access to advanced
ImpactAlpha, Oct. 15 – “Pro-business” really does have a new meaning. Just a few weeks ago, U.S. investors were said to be fretting about higher taxes in a potential Biden administration. Judging from a growing batch of briefings, they’re now anticipating not only stability and stimulus, but sustainable growth (see, “Pro-business has a new meaning now”).
ImpactAlpha, October 15 – Africa pioneered mobile money more than a decade ago. Since then, digital lending and insurance products have extended access to finance to hundreds of millions of un- and under-banked people. But alongside many responsible providers are bad actors who have engaged in predatory lending and collection practices (see, “Investors called to