INTERVIEW: UK foundation Nesta wants to bring social innovation to health, education and the economy. CEO Ravi Gurumurthy on 10-year plans, scaling without losing impact, and why no idea is ‘too laughable or too boring’.
Many funds are now looking to back underrepresented founders or those tackling diversity issues. How can entrepreneurs catch the eye of such investors, and develop a business with inclusion at its core?
First-time deal means tech for good VC can increase financial firepower up to ten-fold and hold its own among mainstream competitors – while ensuring no “watering down” of focus on impact, according to CEO.
PLUS: Pioneering revenue-based fund launches in Scotland; Back Market raises $335m in “bullish” circular economy market; AU$8m boost for Queensland social enterprises; Dutch trio backs “truly disruptive” AI firm Envision – and more.
PLUS: $100m MacArthur grant to end homelessness; Dutch VC fund backs digital-only fashion house; ImpactAssets custom investments surge; new pooled fund for southeast Asia; Resonance's launchpad loan for mums' mental health; and more.
Founder Alex Stephany hopes to disrupt conventional ways of tackling homelessness by combining technology with community goodwill. But even ambitions for global domination need to unfold at the right pace, the former JustPark CEO tells us.
PLUS: A first crowdfunded impact bond Israel and a new ‘career impact bond’ for American students; MacArthur Foundation’s catalytic capital investment; new climate fund from Aberdeen Standard and Big Issue Group, and more.
Nesta, Upstart Co-Lab and Fundación Compromiso are exploring the potential for a new global investment fund dedicated to creative enterprise as they launch project at start of UN International Year of Creative Economy for Sustainable Development.
Damehood for Caroline Mason, the boss of leading grantmaker and social investor Esmée Fairbairn Foundation, plus accolades for many more in New Year Honours – but questions around an award of ‘empire’ persist.
