Impact Capital Managers Welcomes New Members to Growing Network
Durham, NC and New York, NY, July 23, 2019
Impact Capital Managers (ICM) is a network that brings together the general partners of market-rate funds deeply committed to impact investing in the United States and Canada. As the network continues to grow, ICM is pleased to announce and introduce several new additions: Closed Loop Partners, Congruent Ventures, and Social Impact Capital.
Founded in 2014, Closed Loop Partners invests in every stage of the circular economy through early-stage equity investments (Closed Loop Ventures), project finance directed to cities across the U.S. (Closed Loop Fund), and private equity investments (Closed Loop Leadership Fund). In the 2018 Impact Report, CEO Ron Gonen writes, “Our fourth annual impact report comes at a time when CEOs of major consumer goods companies are recognizing that the development of circular supply chains will reduce manufacturing costs and provide consumers with more sustainable products. Mayors of major municipalities are also recognizing that local recycling and circular economy infrastructure reduce municipal disposal budgets, generate revenue and drive local manufacturing and job creation.” As of 2018, Closed Loop Partners had 36 investments with measurable impact on GHG emission reduction, job creation, and recyclable recovery and return to supply chains.
Founded by managing partners Joshua Posamentier and Abe Yokell in 2017, San Francisco-based Congruent Ventures partners with entrepreneurs to build companies addressing sustainability challenges, investing early across hardware, software, enterprise, consumer, deep technology, fin-tech, and business model innovation. They focus their investments in sectors including mobility and urbanization, energy transition, food and agriculture, and industrial and supply chain. A few notable companies from their current portfolio of 24 include Bellwether Coffee, a leading provider of in-café coffee roasting technology and a sustainably-sourced coffee marketplace, and AMP Robotics, which uses artificial intelligence and robotics to sort waste for recycling applications.
Social Impact Capital, founded by Sarah Cone, is an early-stage venture capital firm focused on financing the "best ideas in impact.” Their mission is to channel top-tier venture capital into billion-dollar social and environmental impact opportunities. Social Impact Capital frequently co-invests alongside firms including a16v, Founders Fund, Google Ventures, Felicis Ventures, and DCVC. One of their investments, Mattershift, produces carbon nanotube membranes which are now used by their subsidiary, Prometheus, to make the world’s first zero-net carbon fuel. Recently, Prometheus sold zero-net jet fuel to Boom Supersonic Partners.
ICM membership is evaluated by the ICM Steering Committee based on several key criteria. Members are GPs of funds investing in private companies; have assets under management exceeding $20 million; seek competitive, market-rate returns; make an explicit commitment to impact through their investment strategies; and report on impacts. More information including a full roster of members can be found at www.impactcapitalmanagers.com.
The ICM Steering Committee currently includes GPs from Arborview Capital, Bain Capital Double Impact, Bridges Fund Management, Bronze Investments, City Light Capital, DBL Partners, HCAP Partners, New Markets Venture Partners, Rethink VC, SJF Ventures, Small Business Community Capital, and University Ventures. If you are interested in learning more, please contact: firstname.lastname@example.org.