🎧 Impact Briefing. David Bank is joined by Marjorie Kelly of The Democracy Collaborative, who challenges impact investors to “move beyond the portfolio level, imagining together the broader, deeper, truly radical changes we need, including in policy and culture.” In her new book, "Wealth Supremacy: How the Extractive Economy and the Biased Rules of Capitalism Drive Today’s Crises," Kelly asks, "How do we shift the role of capital so it’s no longer in charge of, but in service to, the public good?" Host Monique Aiken has the headlines.
The Week’s Dealflow
Deal spotlight: Rockefeller’s Zero Gap Fund is fully deployed, yet gaps remain. The Rockefeller Foundation launched the $30 million Zero Gap Fund with the MacArthur Foundation four years ago to supply catalytic capital to unstick stubborn sustainable development challenges. The fund has helped mobilize more than $800 million for projects and portfolios that support access to energy and healthcare, women’s economic inclusion, and affordable, essential services for the world’s emerging consumer class. Yet the Sustainable Development Goals are “woefully off track,” according to the UN, and face trillions of dollars of annual financing deficits. That’s not the fault of the Zero Gap Fund, of course, just as the fund can’t claim full credit for that $800 million. Its first-in capital, flexible structuring, guarantees, and other mechanisms did serve to crowd in some private investors.
The Week’s Talent
Daniel Barker, managing director of Halcyon Incubator, will replace Kate Goodall as Halcyon’s CEO. Goodall and chief investment officer Dahna Goldstein are leaving in January to co-manage a new fund… Kristi Cunningham Whitfield, ex- of the DC Department of Small and Local Business Development, will join Nathan Cummings Foundation as its chief impact officer and director of racial justice… Drawdown Fund, managed by Tiger Grass Capital, hired Lisa Schule as managing director… Luminate promoted Toyin Akinniyi to vice president of Africa.
The Week’s Jobs
💼 Share the week’s impact jobs. View dozens of other jobs on our new job board. Want to post a listing? Submit it here.
Ownership trusts to close the wealth gap with Zoe Schlag (podcast)
Host Brian Walsh catches up with Common Trust’s Zoe Schlag, who is taking aim at U.S. wealth gaps by helping employees become owners – while enabling business owners to retire with purpose. Plus, the headlines.
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