Impact Capital Managers Launches with 25 Leading Investors as Members
A new network of U.S. and Canadian impact investors manages over $5 billion
Durham, NC and New York, NY, April 2, 2018
Impact Capital Managers (ICM) announced its launch with 25 founding fund members and plans for an inaugural meeting May 30th and 31st in Chicago, IL. The network was launched by funds committed to provide market-rate returns by investing in companies with business models powered by social and environmental benefits. The network was launched by Bridges Fund Management, SJF Ventures, DBL Partners, University Ventures, HCAP Partners, City Light Capital, Arborview Capital, ReThink VC, Small Business Community Capital, Bronze Investments, Bain Capital Double Impact, the TPG Rise Fund, and other impact VC and PE funds.
Over the past decade, the practice of responsible and sustainable investing has become more prominent among asset owners, asset managers, and investment funds. In the United States, there are now over 100 venture capital and private equity funds that seek to deliver superior financial returns while maintaining clear and measurable impact as a core part of their investment strategy.
“We have been making impact investments since 2004 and have helped create iconic impact companies that have captured the world’s attention for both financial and social leadership. Investing in businesses that are solving some of the world’s most pressing problems, with management teams that care about their employees and their communities, is not only common sense, it is sound investing and there is no sacrifice between optimizing for profit and purpose,” says Nancy Pfund, Managing Partner of DBL Partners, a $400 million impact venture capital fund based in San Francisco.
Impact Capital Managers brings together the general partners of market-rate funds deeply committed to impact investing in the United States and Canada. Collectively representing over $5 billion in impact-focused capital, ICM will share best practices, that promote policies that foster market-rate impact investing; help promote a diverse talent pipeline into the field; and conduct research and education to accelerate the field.
“As a fund manager with a strong commitment to growing the field of impact investing, we feel strongly that our individual success as managers is connected to our collective success in making the case for the kind of impact and financial returns our investments can generate,” noted Brian Trelstad of Bridges Fund Management, which has offices in New York and London.
“It is clear to all of our funds that investing in high-impact, high-return companies is profitable and urgent. Launching ICM allows us to bring together like-minded general partners to help scale the industry and provide practical co-investment, training, fundraising, and organizational development for all of us,” said Dave Kirkpatrick, Managing Director of SJF Ventures, a $260 million fund based in Durham, NC.
The Impact Capital Managers has had financial support from the Ford and the W.K. Kellogg Foundations, and has had programmatic support from the Harvard Business School and the University of Chicago Booth School of Business, which have hosted the first meetings of the network.
Boilerplate: Impact Capital Managers is a network that brings together the general partners of market-rate funds deeply committed to impact investing in the United States. Collectively representing over $5 billion in impact-focused capital, we will work together to answer essential questions, identify best practices, and set common goals.