June 2023 | Field News & Resources
This page features this month's highlights, announcements, resources, and general news related to advancements in the impact investing field.
- The U.S. Impact Investing Alliance announced that John Palfrey will serve as the organization's Advisory Board Chair, succeeding Darren Walker, President of Ford Foundation. Palfrey will be the third Chair of the Alliance, following Walker and Matt Bannick, former President of Omidyar Network.
- Rockefeller Philanthropy Advisors spoke with the Founding Partner of Upstart Co-Lab, Laura Callanan, about Upstart’s work. Callanan discussed Upstart Co-Lab’s origins, impact investing’s role in the creative economy, and how the creative economy offers 21st century quality jobs, and anchors vibrant communities, and serves as an on-ramp to economic opportunity for BIPOC and women entrepreneurs.
- The Ruth Mott Foundation has announced a new $5 million allocation for impact investments in Flint, Michigan. The funds are intended to provide capital or guarantees to entities doing business in Flint.
- Financial returns and societal impact. It’s a “both/and” argument, not an “either/or” one, according to Meredith Shields, Managing Director, Head of Citi Impact Fund. This Forbes article discusses how Citi Impact Investing seeks to drive positive change and financial returns.
- ImpactAlpha profiles fund managers getting creative with catalytic capital for energy, nature, and financial inclusion. Funds are the biggest drivers of the roughly $9 billion in annual blended finance deals.
- Wealthy individuals and family offices are embracing catalytic capital. Through a series of focus groups and surveys collected from more than 90 impact investors, about 30% of the investors said they are open to accepting lower or uncertain returns for the same risk as commercial investors “most of the time,” and about 60% “some of the time.”
- Black women-owned venture capital investor Impact America Fund has raised $112 million for its third fund. The fund more than doubles Impact America’s Fund II, which raised $55 million in 2020 in what was then one of the largest raises by a solo Black woman general partner.