Jay-Z and Kapor Capital join $3 million financing of “de-carceration” startup Promise

  • Promise... works with defendants to be sure they appear at court dates, undergo drug testing and treatments, get to classes and meet other obligations.
  • Reduces costs...The firm charges towns and counties as little as $17 per person per day, compared to $85 or more per day for jail time...

‘Labor-lens investors’ are disrupting exploitative supply chains

Working to end forced labor and poor conditions in global supply chains in not new. What’s new are the growing number of “labor-lens” investors betting on strategies for ending exploitative working practices. Disrupting the $51 billion in profits reaped from goods made with forced labor, including about 25 million people in modern slavery conditions and

Humanity United launches $23 million fund to combat forced labor, other supply chain problems

Humanity United, part of the Omidyar Group, has raised $23 million to invest in early-stage technology companies fighting human trafficking and other abusive practices in corporate supply chains around the world. Humanity United’s fund, called Working Capital, is backed by Walt Disney Company, Walmart Foundation, C&A Foundation, and several impact investors, including the Soros Economic Development

Bezos donates $33 million to DACA scholarship fund

The Amazon CEO and his wife MacKenzie committed the funds to TheDream. US, a scholarship program for undocumented immigrants in the Deferred Action for Childhood Arrival (DACA) program. Undocumented immigrants are ineligible for federal student aid. Bezos’ contribution will pay for college for 1,000 “Dreamers.”

Jana wants to add ‘impact’ to activist hedge fund

The $8.5 billion hedge fund is looking to raise billions of dollars to target companies that are doing well and could also be doing good, reports The Wall Street Journal. To make the point, Jana is working with the giant California State Teachers’ Retirement System to pressure Apple to take action on “iPhone addiction” among the young.

John Legend helps launch startups for and by former inmates

Unlocked Futures, a 16-month accelerator started by singer John Legend and the philanthropic fund New Profit, supports entrepreneurs who are former inmates or are helping others transition back into society. “Entrepreneurship is important because we may not get jobs. We’re hiring ourselves. It’s out of necessity,” says entrepreneur Teresa Hodge, part of Unlocked Futures’ inaugural class.