An exchange listed, for-profit fund,which due to its nature will allow anybody including unaccredited investors to invest, managed by a non-profit with experience in that sector and the mission to create jobs. Such a fund will offer the whole community the opportunity to invest in its future, generate wealth and inclusiveness. At the same time, anyone who needs access to some or all of his/her investment can sell shares without affecting the fund’s investment capital. Thus the fund will become “evergreen”.
Last week, with one line in his State of the Union speech, President Obama may have taken the discussion about the relationship between business and society to an entirely new level. And, in a direction that holds the promise of a more just, joyous, prosperous and sustainable economy for us all. Early in the speech the President said:
“And this year I plan to lift up the many businesses who’ve figured out that doing right by their workers, or their customers, or their communities ends up being good for their shareholders”
After a full year of strategy bootcamps and debates, the Future Funders’ first $50,000 co-investment with Synergy went to support a business development manager for Brooklyn Bridge to Cambodia (BB2C), a Phnom Penh-based social venture that develops and manufactures treadle water pumps designed for rural subsistence farmers in Cambodia. It’s unusual to use a grant to cover administrative expenses. Most grants support program related expenses, while impact investments tends not to give grants at all.