Hello all, long email but some updates as we dive deep. Take a big breath and remember you know how to swim. You'll float.
Thank you all for your engagement over the past weeks. I've been loving learning beside you, and there are some exciting things ahead. We are updating the Playbook with upcoming resources and past recordings. Please do check that out. Of course, don't forget you can find the events on our Calendar, our Event List, and Google Drive.
Now that we have finished our introduction, we invite you to share your reflections. Don’t worry about the length or quality—we’re just really eager to hear your thoughts and get your feedback! A paragraph or two is more than enough. Let us know what you are looking to go into next.
And as we are moving into now a deeper understanding of what the impact investing space entails and key areas to review. And, we are looking forward to April, where you take over the program and can work with others in the cohort on a project (Peer Action - LINK INCOMING) and co-create the program yourself with speakers or topics (Host a Skill Session - LINK INCOMING).
In the next week, Week 6, we'll explore Systems Thinking and how to change the financial system. For now in this week lets get a better understanding of the deal makign process and the different financial products that we need to understand if we are to create impact with finance.
Please join our community call. We count on your participation! This week’s call will give us another chance to connect to our own role in the change, feel where we have clarity & questions that pull us forward. But you will direct the conversation and focus on what is important to you.
Do spend some time checking out ther reading resources up on the Playbook. We've added a bunch for Week 4 and Week 5. These are available and we'll spend over the next two weeks exploring these but if you spend the time to check this out you'll learn a lot more.
Week 5: Deal-Making and Products for Impact Investing
Let's spend some time reviewing and going through the different steps it takes to make an impact-investing deal happen. So that you also know the different stakeholders, we'll highlight some examples and have them review the products and financial tools used to create impact through their work.
What You Need to Do:
Attend Upcoming Events
We have some upcoming events to look forward to. Check these out
Friday - Social Time - starts at 7 am ET, 1pm CET. Register here
Monday - Impact Investing Deal Making - a must attend even if you want to learn about fund mechanics and financials. Register here
Wednesday - Community Call - You direct the convo - discussion around what projects you want to work on with others - Register here
Thursday - Pathways with Purpose: Impact Finance Careers - Register here
Friday - ESG Careers session with oikos International - Register here
Upcoming - Energy Jobs - we'll set up time with GreenBridge to present about breaking into the job market. In the meantime, here is more of what they do. Please send me questions you have ahead of time so they can prepare
Check Out Past Recordings
We've gotten the recordings for past sessions up on the Playbook. you should find the recordings at the end of each week's content. That way you can always go back and find the recording and the resources/presentations/notes we save.
Here they are in case you are struggling to find them.
Special Invitation:
Lubna, Jenny, Lisa, and Gabriel have offered to come back for casual conversations. If you would like to do that, does anyone want to volunteer to help me find a time with them and invite them back? Don't need to help with all - just one would be helpful to me in setting up that. Lisa said she's available April 10-20 if anyone volunteers.
Join Miro Board
Miro is a great interactive platform for us to collaborate on different projects and activities. We will use this board repeatedly over the coming months so it is important you get access to the Miro Board and Practice Using It.
Join here: https://miro.com/app/board/uXjVLeqSa9o=/
Introduce your self by adding your name by using the Text Button
Chosing and moving an emoji by using the Select Tool and Moving the emoji
Add one sentence on why you are here and take a look at the others comment
Please make sure you can access the following Miro board. If you have not yet, the new link should give you direct access to edit the board with no login issues. Please add your name and purpose on joining. We will use this the next time we get together.
Some Quick Updates
Here are some quick updates:
We've added a Zoom room that you can use whenever you would like - here is how
The Impact Alpha code has been updated; you should get access now if you log in using the instructions on playbook to get access to the Impact Alpha Slack channel, then you can email support@impactalpha.com to request your invite
A few really useful impact investing focused glossary of terms are here, this is for those that mentioned the terms get confusing
BLAISE learn week materials have been distributed to those who registered - please let me know if you did not get those
The crowdsourced job resources we started to put together are here. I would love for a volunteer to help organize and make the list readable.
Looking forward to connecting with you online and chatting further as we learn together. See you online.
Community Call - Self-Directed Convo
Description: Self-Directed Fun - where you and your cohort direct the conversation and learning. We'll have some directions for you to open and close breakout rooms and some content you review, and these spaces are completely there for you to connect and learn together.
Similar to Last Week, we’ll again have some Self-Directed Fun on Wednesday. This is where you take over the program and host yourselves with discussion and learning time while meeting each other. In the breakout rooms, discuss together in small groups the following questions and start sharing them with the others. So you can learn together and share resources. Maybe these things you can use or find helpful to you on your Peer Project in April? Have fun!
WHAT IS SOMETHING NEW YOU HAVE LEARNED THAT IS HELPFUL? SHARE.
WHAT IS A USEFUL RESOURCE, WEBSITE, TOOL FOR LEARING? SHARE.
Overview Notes
Taken from Fireflies.AI to summarize the Community Call: Self Directed Fund
The Fellowship Community Call #4, featuring Self-Directed Hangout #2, commenced with a brief introduction and updates from Stephen, including the sharing of a recording from a missed webinar and insights on session preferences. Participants from diverse locations such as South Africa, Nigeria, and Denmark introduced themselves, alongside discussions about a potential closeout party. The call transitioned into project discussions where upcoming peer projects were outlined, encouraging sharing of interests and experiences in breakout sessions. Career conversations focused on roles in corporate social responsibility (CSR) and diversity, equity, and inclusion (DEI), while investment discussions explored ESG portfolios and alternative strategies. Topics covered included the complexities of sustainable development, energy independence in Africa, and the intersection of global economic development with environmental sustainability. The meeting concluded with reflections on personal responsibility in addressing global challenges. Action items were assigned to participants, such as sharing resources and connecting individuals for further collaboration.
Skill Sessions Impact Investing Deal-Making
Impact Deal-Making with Carl Valenstein of Morgan Lewis - Our partner and supporter Carl Valenstein of Morgan Lewis has been a long-time supporter of the program and previously hosted a deep dive with us on how to make an impact investing deal happen. Carl will come back and give us another workshop on the topic in our program as a skill session. Here is a great resource you can check out to learn more about an important part of Impact Investing: making the deal happen.
Carl provides us with some great resources like: - Introduction to Key Legal and Financing Basics - Doing an Impact Investing Deal - An Investor’s Guide to Due Diligence in Early Stage Companies.
Session Summary with Carl V.
The Educational Webinar titled "Impact Deal Making with Carl Valenstein of Morgan Lewis" provided an in-depth exploration of impact investing, led by Carl Valenstein, a seasoned expert with over 40 years of legal experience. The session covered the fundamentals of impact investing, distinguishing it from traditional socially responsible investing, and emphasized the necessity of measurable social and environmental outcomes. Discussion topics included international investment considerations such as legal complexities and regulatory risks, strategies for company lifecycle financing, important aspects of due diligence, common pitfalls for investors, and typical investment structures. Participants were informed about current challenges in the impact investing landscape, particularly in light of evolving political contexts. Action items included reaching out to Carl for literature recommendations and engaging with the Morgan Lewis ESG and sustainability resources for further learning.
Carl Valenstein, an expert in impact investing, led an Educational Skill Session on 'How to do an Impact Investing Deal.' He differentiated impact investing from ESG investing by emphasizing its intentional focus on achieving measurable social or environmental impacts. The session explored various deal structures such as Benefit Corporations and stressed the importance of aligning investor expectations with company missions. Valenstein covered the stages of company funding from startup to venture capital and highlighted the due diligence process, which requires a solid track record and a clear impact thesis. Additionally, he discussed different fund structures, the involvement of nonprofits through LLCs, and the challenges associated with risk analysis and impact measurement. Action items included sending supplementary resources to fellows and reviewing a related case study, providing valuable insights for those interested in navigating impact investing complexities
Skill Session - Career Paths: Learn from ESG Experts
Ready to shape your future in ESG? -Mark your calendars for our new event.Career path: Learn from ESG experts happening online at the end of March!-️ Friday, 07.03.2025 - 1.30 pm CET | 6:00 pm IST | 8:30 pm HKT | 7:30 am ET--- 3–4 industry experts- Insights into Environmental, Social, and Governance careersStay tuned for speaker announcements and registration details.Let’s build a sustainable future together!
A key part of creating impact will depend in part on the legal structure under which enterprises are set up. This is a point made by Carl Valenstein in his Skill Session. Here are two articles he shared to help you start down the path of understanding the different considerations of legal structure.
We have compiled the following resources to assist you in learning about and exploring specific products and areas that may be important for you to understand or investigate. Some of these resources may be more pertinent to your industry or job or may pique your interest. This collection is by no means exhaustive, so we will continue to develop content to address additional areas and to elaborate on various aspects of the following. What gaps are you noticing? Which speakers or topics would you like to explore that involve additional impactful products beyond those listed below? Alternatively, is there another aspect you wish to discuss?
Let's engage in conversation and learn together.
Week 5 - Past Workshops
Check out these additional ways to engage with speakers and content from the space.
📚PRI Guide for Private Equity : To get acquainted with the space, we recommend this reading from the Principles of Responsible Investing. The UN PRI have made this guide for Private Equity and how to manage ESG (environmental, social, and governance) issues with investments in stock, indexes, ETFs, etc (all private equity investments). Please read this short introduction to prepare for the session with Will and Greg.
We are very excited to have our partner Community Capital Management with us to share how they do business and their theory of change. We're looking forward to here about how CCM uses impact stories as part of their work to share the way they do impact investing. Check out CCM's Stories of Impact, which feature an impact investment and how it is having positive environmental and/or societal benefits.
Impact Stories Example
We'll be joined by David Sand, Chief Impact Strategist
LinkedIn & Bio
and
Victoria Reseska, Manager of Consultant and Platform Relations
LinkedIn & Bio
Philanthropy, fund design and catalytic capital will be the themes of our second skill session. 🧓Jeff Rosen from Tufts University will host us for a workshop on Philanthropy and its Role in Catalytic Capital. Come prepared for an interactive session on fund design and overview of catalytic capital. You’ll get hands-on exposure to the challenges impact first investments face which are designed to build the marketplace.
Impact Investing can be defined so broadly as to have little or no meaning. Within this space, there are a subset of investments that seek to achieve impact first and returns second. Within this subset, there is a further set of impact first investments designed to build the marketplace. The Catalytic Capital Consortium defines catalytic capital as, “Capital leveraged to unlock additional investment that would not otherwise be possible. It strengthens communities, expands opportunity and economic growth, and fuels innovation that advances the well-being of people and the planet, while laying the groundwork for mainstream investors to participate in transformative investments.” Efforts to design the kinds of integrated capital stack that achieves best leverage often require philanthropic capital at multiple layers. In this 90-minute session, participants will get hands on exposure to the need and challenges the philanthropic sector faces in filing this critical capital gap
Jeff is a Professor of Practice at Tufts University, where he serves as the Director of the Graduate Certificate Program in Impact and Sustainable Investing. Jeff began his professional life in ice cream trucks and spent many years growing and selling food service businesses and serving in senior financial roles for national chains striving to go public. A graduate of Cornell University’s School of Industrial and Labor Relations and the University of Maine’s School of Resource Economics, Jeff spent 20 years serving as the CFO for the Solidago Foundation. During his time in Philanthropy, Jeff provided board service to several philanthropic affinity groups, including Confluence Philanthropy and Sustainable Food and Ag System Funders. He also collaborated with field partners to design and launch several community investment funds, including PVGrows and the Real People’s Fund. He lives in Northampton, MA with his family.
Crowdfunding
Making Economies for the Common Good a Local Reality/
How to tend better local realities for all in the cracks of a fractured system with Gesellschaft für Gemeinwohl
This week we will explore another lived alternative together with 👨Fritz Fessler, a representative of economy for the common good. Have you ever asked yourself what our world would look like if it was organized for the beter of all living beings? The folks at economy for the common good took this question and developed a way to move into this reality, safely nestled within the current system, driving change on the ground with real people and their real projects. Next to some fascinating tought leadership, they developed a set of practices like the common good balance sheet which allow organizations to describe their work with more than a financial performance. In Austria, the network established a ‘bank within a bank’ method which allows them to channel the money of their customers directly to real world projects in the region, all stewarded by the common good community. Join us on Thursday at our community call to learn more & get inspired by the global movement.
Join us as Fritz Fessler speaks about the idea of the Economy for the Common Good - How to tend better local realities for all in the cracks of a fractured system. Fritz helped to co-found the Genossenschaft für Gemeinwohl, which is the Cooperative for the Common Good. He is the head of the board of the cooperative and a member of its public welfare advisory group. Fritz will share with us how the cooperative is working to change the financial system. And how the movement plays out in practice in Austria and Germany. We’ll ask, 'how is this community-driven approach applicable to/applied in other places?'
Recommended Resources on Economy for the Common Good
Join us for a webinar on #equitable #retirement plans and investing. Just Futures will share practical guidance for how to ensure your organization’s plan supports an equitable distribution of retirement benefits and unpack what is possible for organizations who want to collectively harness our retirement investments for social justice. The racial wealth gap is three times larger than the racial income gap, and yet conversations about equity in the workplace tend to focus exclusively on pay. Most employers have yet to take up the mantle of using the tools at their disposal to directly advance equitable wealth building for their employees. Because of the huge role that retirement savings play in household wealth, the design of a workplace retirement plan can just as easily exacerbate wealth gaps as it can offset them. At the same time, the over $35 trillion dollars invested in U.S. retirement accounts are overwhelmingly invested in traditional financial vehicles that are fundamentally extractive and continue to reproduce massive inequality and environmental harm. This represents a huge opportunity for the progressive community to leverage our dollars towards racial, social, and economic justice, rather than allowing profit-driven financial service providers to continue to operate business as usual. Join Just Futures for a webinar that shares practical guidance for how to ensure your organization’s plan supports an equitable distribution of retirement benefits and unpacks what is possible for organizations who want to collectively harness our retirement investments for social justice.
Catalyzing Change through Capital: The Business Angel’s Role in Driving Purpose-Driven Innovation: this session will showcase how business angels like Dr. St. Hilaire at ADA Venture fuel innovation by supporting founders whose ventures prioritize societal impact and ethical practices, aligning financial success with purpose-driven missions.
Unlocking Capital
Fall 2024 Peer Project
💃 Group members: Josie, Jessica, Noba, Chelsea, Katrina
Additional items will be added from our partners and their opportunities. Because there are so many we'll do are best to keep on top of sharing them actively with you in case you do not see them.
Impact Deal Making: Understanding Fund Creation with Morgan Lewis and Carl Valenstien
The Educational Webinar titled "Impact Deal Making with Carl Valenstein of Morgan Lewis" provided an in-depth exploration of impact investing, led by Carl Valenstein, a seasoned expert with over 40 years of legal experience. The session covered the fundamentals of impact investing, distinguishing it from traditional socially responsible investing, and emphasized the necessity of measurable social and environmental outcomes. Discussion topics included international investment considerations such as legal complexities and regulatory risks, strategies for company lifecycle financing, important aspects of due diligence, common pitfalls for investors, and typical investment structures. Participants were informed about current challenges in the impact investing landscape, particularly in light of evolving political contexts. Action items included reaching out to Carl for literature recommendations and engaging with the Morgan Lewis ESG and sustainability resources for further learning.
Participants to email Carl Valenstein for specific literature recommendations on impact investing topics (01:31:04)
Participants to follow up with Carl for one-on-one discussions if needed (01:30:32)
Unassigned
Interested participants to visit Morgan Lewis ESG and sustainability website for more information (01:33:43)
Our partner and supporter Carl Valenstein of Morgan Lewis has been a long-time supporter of the program and previously hosted a deep dive with us on how to make an impact investing deal happen. Carl will come back and give us another workshop on the topic in November as a skill session. Here is a great resource you can check out to learn more about an important part of Impact Investing, making the deal happen.
Carl provides us with some great resources like: - Introduction to Key Legal and Financing Basics - Doing an Impact Investing Deal - An Investor’s Guide to Due Diligence in Early Stage Companies
Carl Valenstein, an expert in impact investing, led an Educational Skill Session on 'How to do an Impact Investing Deal.' He differentiated impact investing from ESG investing by emphasizing its intentional focus on achieving measurable social or environmental impacts. The session explored various deal structures such as Benefit Corporations and stressed the importance of aligning investor expectations with company missions. Valenstein covered the stages of company funding from startup to venture capital and highlighted the due diligence process, which requires a solid track record and a clear impact thesis. Additionally, he discussed different fund structures, the involvement of nonprofits through LLCs, and the challenges associated with risk analysis and impact measurement. Action items included sending supplementary resources to fellows and reviewing a related case study, providing valuable insights for those interested in navigating impact investing complexities
Skill Session: ESG Career Talks
ESG Career Talks and Sustainable Finance Pathways from oikos International
