This Week in Impact

Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week: While the midterms reshuffled Washington, in western North Carolina, communities show the power of what local capital can do when federal help falls short; a new wave of foundations and family offices is leading with impact before they consider returns; and in this week's Deal Spotlight, two climate funds at opposite ends of the market: TPG closes a more than $10 billion behemoth, while Deetkin Impact crosses $100 million for Latin America.⁠Allocating for Impact event interest form⁠. Story links:“⁠In North Carolina, community investments in economic resilience paid it forward when disaster struck⁠,” by Tiffani Hart“⁠New impact-first LPs are starting with the problem, not the returns (video)⁠,” by Isaac Silk“⁠TPG raises a $10.4 billion climate fund as institutional LPs gravitate to bigger managers⁠,” by Roody Senatus“⁠Deetken Impact wades into institutional territory with climate resilience growth fund⁠,” by Jessica Pothering

Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week: Impact investing hits $1.76 trillion –  even as many of the people who built the field are heading for the exits; Ahead of its IPO, a look at the fine print of Anthropic’s public benefit corporation designation; And in this week's Deal Spotlight, Maycomb Capital closes a $100 million fund that only gets paid back when social programs deliver results.Story links:“⁠A changing of the guard as the impact investing market matures⁠,” by Amy Cortese. "⁠Chin up: Impact investing assets under management grow to $1.8 trillion⁠," by Jessica Pothering, Dennis Price and Zuleyma Bebell.“⁠IPO filing commits Anthropic PBC to the long-term benefit of humanity – for now⁠,” by Purpose Foundation’s Christoph Bietz.“⁠Maycomb Capital raises $100 million for second outcomes-based financing fund⁠,” by Jessica Pothering

Host Brian Walsh takes up ImpactAlpha’s top stories with editor Jessica Pothering. Up this week: Singapore’s biggest banks pledged to quit coal in 2019. So why are they still financing coal plants? At Norrsken Impact Week in Barcelona, AI dominated the conversation, but trust remained the big question. And in New York, a $50,000 loan by a revolving loan fund could save a million-dollar family home from falling into speculators’ hands.Story links:“⁠Investing in AI 2.0: Mapping new investment opportunities across the trustworthy AI stack⁠,” by Paul Fehlinger.“⁠US Development Finance Corp. moves toward critical minerals and away from… development⁠,” by Jessica Pothering."⁠Mission Driven Finance and Known Holdings team up to provide infrastructure for impact fund managers⁠," by David Bank.

Mapping the capital providers betting that the next wave of AI returns will come from making the technology more trustworthy; how the US Development Finance Corp. has shifted its priorities during the second Trump administration; and, two impact finance firms joined forces to give emerging fund managers the back office muscle they need to land bigger investors.Story links:“⁠Investing in AI 2.0: Mapping new investment opportunities across the trustworthy AI stack⁠,” by Paul Fehlinger.“⁠US Development Finance Corp. moves toward critical minerals and away from… development⁠,” by Jessica Pothering."⁠Mission Driven Finance and Known Holdings team up to provide infrastructure for impact fund managers⁠," by David Bank.

Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week: Family Office Ceniarth finds that their impact-first portfolio is not making money… but that's been their plan all along; a new Latin American investor rewards founders with better terms when they deliver more impact; And finally a climate justice fund raises $71 million to back clean energy projects the banks won't touch.Story links:“⁠Ceniarth’s impact-first portfolio is not making money. That’s the point⁠,” by Diane Isenberg and Greg Neichin"⁠To upgrade food systems in Latin America, Capibara adds impact incentives for founders, and for itself⁠," by Jessica Pothering“⁠Afterglow Climate Justice Fund raises $71 million to finance community-owned green projects⁠,” by Amy Cortese

Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week: From Galveston to Kansas City, overlooked cities are getting organized and making themselves investment ready; investing in the economic determinants of a healthy democracy; And a deal spotlight on Blue Earth Capital, which is unsticking impact capital.Story links:“⁠Power of place drives impact in a national movement of overlooked cities like Galveston⁠,” by Dennis Price“⁠Investing in shared prosperity, broad ownership and other economic determinants of a healthy democracy,⁠” by David Bank“⁠Blue Earth Capital on ‘unsticking’ impact capital and the rise of an impact secondaries market (Q&A)⁠,” by Danielle Rossingh

Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week: As President Trump calls climate change a “con job” at the UN, investors and philanthropies are raising money and building projects anyway; development banks abroad and Asia's asset owners are stepping up on climate finance –  is it enough; And this week's deal spotlight shines on Celsius Companies, a Philadelphia-area holding company buying up clean energy contractors to turn their workers into owners.Story links:“⁠Hoax this! Climate Week NYC showcases real solutions to real (really!) climate change⁠,” by Amy Cortese“⁠Development finance institutions rally private climate capital as US threatens multilateral banks⁠,” by Jessica Pothering“⁠As US retreats, Asia's investors take the lead on climate financing⁠,” by Dennis Price“⁠Holding company for clean energy contractors in Philadelphia aims to turn workers into owners⁠,” by Roodgally Senatus

Host Brian Walsh takes up ImpactAlpha’s top stories with editor Jessica Pothering. Up this week: Ahead of New York Climate Week, why ⁠investors are getting down to business⁠, even as AI sucks up the oxygen (and the capital) in the room; why ⁠African pension funds⁠ — sitting on $600 billion in assets — are starting to dip into private equity and private debt to fund small businesses back home; and, with ⁠batteries as a service⁠, how gas stations in Nigeria and South Africa are becoming an unlikely source of power for small businesses.

Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week: ⁠Restructuring and layoffs⁠ hit Pro Mujer, as gender lens and development funders pull back; how ⁠faith-based investors⁠, from Catholic sisters to family offices, are quietly building some of the most values-driven capital in private markets; and, spotlighting a floating ⁠modular nuclear reactor company⁠ that just landed $50 million seed round.

Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week:“⁠Revenue-based financing helps create wealth with anti-dilution protection for founders, not investors⁠,” by Roodgally Senatus“⁠How revenue-based finance can help close the racial wealth gap⁠, by Carrie Endries“⁠Investing in Resilience: Why America's overlooked businesses matter more than ever⁠,” by Kim Folsom"⁠S2G Investments seeks alpha in impact – without the label⁠," by David Bank"⁠Wavemaker Partners is writing early, small checks for ‘difficult’ deep tech⁠," by Jessica Pothering