Thank you for being part of an active and impactful 2016! We countdown the IC team’s highlights below, with gratitude for this good work and community.
1. Set records
IC members have moved more than $10 million dollars this year, crossing us over the $200 million invested milestone! We also oversubscribed IC’s fifth pooled fund, PCC ’15, our largest fund to date in the amount of $3.3 million. PCC ’15 includes over 50 Limited Partners and has invested in six new deals to date. And we’re excited to report that one of the final deals of the year, UltraCell Insulation, is one of our largest local network-syndicated deals. Says IC Philadelphia member, Eric Chapman, “This investment represents a great collaboration among the IC community. We engaged members across multiple networks including Philadelphia, New York, North Carolina, Colorado, and D.C., as well as the PCC Funds.”
2. Featured in national news
IC members are leaders in the industry and have been sought after for their expertise over the past year. Members have been featured in Forbes, Huffington Post, Social Innovation Journal, and more! #FundedbyIC companies are also making national news for their innovative business solutions to pressing current issues. This includes #FundedbyIC features in the Wall Street Journal, Fast Company’s CoExist, Popular Mechanics, and more. Additionally, a #FundedbyIC entrepreneur spoke at UN Women while IC’s Executive Director, Bonny Moellenbrock keynoted and spoke at numerous engagements, including the main stage at the SOCAP Conference in San Francisco.
3. Developed new programs and offerings
We introduced a Structured Exits Workshop to our educational offerings and shared it in four locations, with over 60 investors attending. Watch for more opportunities to build your impact investing toolkit in the coming year! Last week, we launched IC’s first New Member Cohort with a kickoff webinar. Alan Bernstein, manager of our IC New York Local Network, shared his impact investing philosophy, and new members are now writing their own impact statements. New members will receive education and programming over the next three months, and the program will culminate with an in-person gathering before the BTP Denver event in March. Let Jill know if you’d like to participate in the next cohort this spring!
4. Increased our footprint
In addition to over 50 local network meetings this year, IC was also represented on two new continents! In conjunction with our Duke SEAD program, supported by USAID, in February we traveled with six IC members to Kenya. On this trip, we met with local entrepreneurs who are tackling health-care challenges with innovative business solutions. If was four members’ first trip to Kenya, and for all of the members, it was a life-changing experience. “It was a fabulous trip. The itinerary was very well organized, and it helped me to get a lay of the land and dive right in to what’s happening in East Africa. I really enjoyed getting to know the other IC members on the trip, too,” says Michelle Schwartz. And in the fourth quarter, IC’s Director of Strategic Programs, Alexandra LaForge, and member Praful Shah from Denver, traveled to China to speak on impact investing and investing in women at the launch of an early-stage impact fund.
5. Raised transformative grants
IC received a $250,000 grant from the US Department of Commerce’s Economic Development Administration (EDA) to support an IC Colorado Seed-Stage Impact Fund Feasibility Study. Over the next two years, this grant will allow us to assess the demand, structuring options, and best marketing approaches for a CO-focused fund that leverages our PCC fund infrastructure.
After a productive partnership with The Hitachi Foundation on their entrepreneur support efforts for the past seven years, we are honored to receive one of their three Good Companies, Good Jobs Strategy legacy gifts in the amount of $3 million. The other two anchor institution recipients are Aspen Institute and MIT’s Sloan School of Management. This grant will allow IC to increase our support resources for early-stage social entrepreneurs and impact investors – and we want your input! Watch for opportunities to share your interests and priorities for IC’s growth strategy in 2017.
We’d love to know: What were your personal impact investing highlights of the past year? Email Meredith for the chance to be featured in a follow up post in early 2017. We look forward to engaging with you in 2017 as we kick off IC’s 25th year!