Impact Capital Managers Accepting Applications for Inaugural Mosaic Fellowship
Flagship program will place graduate students from traditionally underrepresented backgrounds at ICM member funds in summer 2020
NEW YORK, December 9, 2019 - Impact Capital Managers (ICM), a growing network of North American private capital fund managers investing for market-rate return and meaningful impact, today announced it is accepting applications for its new Mosaic Fellowship, part of the organization’s commitment to build a pipeline of diverse, skilled talent in the alternative investment industry.
The Fellowship will place up to six high-performing first-year MBA and graduate students from traditionally underrepresented backgrounds at Impact Capital Managers funds in the summer of 2020. Support from the Surdna, Ford, MacArthur, and W. K. Kellogg Foundations is making the program possible.
Mosaic Fellows will put their coursework into practice and get hands-on experience, learning about the unique challenges of successfully investing for impact and return - from deal sourcing, to partnering with portfolio companies, to planning for a mutually successful exit. They will own mission-critical projects and workstreams alongside senior leadership. Coaching and guidance will be provided throughout the summer by host funds’ senior leadership and by assigned mentors at other Impact Capital Managers funds. Over the course of the summer, Fellows will connect with each other and with impact investing leaders across the ecosystem. All Fellows will convene in New York City in July for a special session with the Impact Capital Managers Board of Directors, site visits with local ICM members and entrepreneurs, and a special networking reception with friends-in-the-field. Importantly, the program will provide Fellows with competitive stipends.
"The Impact Capital Managers network is excited to launch the Mosaic Fellowship, which we see as a flagship initiative within our broader position, goals and commitments related to talent and diversity,” said Marieke Spence, ICM Executive Director. “Evidence suggests that diversity and inclusion drive performance within teams. Unfortunately we also know that barriers and bias in the impact investing ecosystem today limit many from achieving their potential. Given these facts, and the leverage we can exercise as a network, we believe we have both an obligation and an opportunity to make a difference. The Mosaic Fellowship is an exciting first step in that direction.”
Nancy Sims, President and CEO of the Toigo Foundation, said: “I applaud the members of Impact Capital Managers in the creation of this innovative program opening the doors of impact investing to a broader base of talented MBA students. The Mosaic Fellowship will draw the unique profile of young investors with skill and passion to contribute to investment organizations with mission and purpose.”
The Fellowship program was incubated at Impact Capital Managers by the organization’s Talent & Diversity Committee, co-chaired by Cassidy Leventhal of University Ventures and Ebony Pope of Rethink Education, in consultation with stakeholders and peers in the field. In particular, the Committee is indebted to Daryn Dodson of Illumen Capital, Mark Grovic of New Markets Venture Partners, Nancy Sims of Toigo Foundation, Julian Johnson of SEO, Monique Aiken of Mission Investors Exchange, Adwoa Asare of the MBA Impact Investing Network & Training Program (MIINT), Anita Foster and Lisa Richter of Avivar Capital, and Dr. Maya Beasley of the T10 Group, for their input and perspectives.
Prospective Fellows can learn more about the Mosaic program and apply at www.impactcapitalmanagers.com. Applications will be accepted until January 15, 2020.
About Impact Capital Managers
Impact Capital Managers is a not-for-profit network of private capital fund managers investing for market-rate return and meaningful impact. Its mission is to accelerate the performance of its members and to promote the smart growth of the private capital impact investing marketplace. Membership is by invitation only. Today, the network includes 47 funds collectively representing more than $11B in impact-focused capital.
The Impact Capital Managers Board of Directors includes general partners from Arborview Capital, Bain Capital Double Impact, Bridges Fund Management, Bronze Investments, City Light Capital, DBL Partners, HCAP Partners, Impact Engine, New Markets Venture Partners, Rethink, Small Business Community Capital, SJF Ventures, The Social Entrepreneurs Fund, University Ventures, and Wireframe Ventures. More information including a full roster of members can be found at www.impactcapitalmanagers.com.
Contact:
Marieke Spence, Executive Director
mspence@impactcapitalmanagers.com