ImpactAlpha, October 27 — New York-based Social Impact Capital was an early investor in African tech upskilling platform Andela and zero-carbon fuel company Prometheus Fuels, both now worth more than $1 billion. Portfolio company OpenInvest was acquired by JP Morgan.
Social Impact Capital’s Sarah Cone is looking to invest in companies that can positively impact one billion lives – ‘impact unicorns.’ “The most promising place to look for unicorns is companies that are remaking the ‘real economy’ at lower cost, more sustainable and equitable,” Cone told ImpactAlpha.
The raise is among the largest for a VC fund led by a solo female general partner. Investors include Founders Fund’s Peter Thiel and Andreessen Horowitz’s Marc Andreessen and Chris Dixon.
Social Impact has invested in 30 companies, including Aether Diamonds, which makes gems from atmospheric carbon, and Charm Industrial, which sequesters carbon by pumping it deep underground.