Investing for Impact

In this episode of the IMPACT = podcast, we talk to Jessica Espinoza, Chief Executive Officer of 2X Global – the leading organisation championing the growth of gender lens investment. 2X Global works together with the full spectrum of investors, capital providers, mobilisers, and influencers, with the aim to transform international finance systems through the deployment of gender-smart capital across asset classes and markets. Jessica has a track record in originating, structuring and executing debt, mezzanine and equity deals in emerging and frontier markets with a strong focus on inclusive innovation. Prior to joining 2X Global, Jessica was Vice President for Private Equity & Venture Capital Investments at DEG/KfW. She was also a Member of the Management Board at ProCredit Bank Nicaragua responsible for the Business Clients Division and managed the Africa Regional Office of MicroFinance Transparency. In this conversation, Jessica talks about the evolution of gender lens investing over the last five years, the policies and regulations needed to help accelerate this type of investing and the challenges and opportunities for investors.

In this episode of the IMPACT = podcast, we talk to Kieron Boyle, Chief Executive of the Impact Investing Institute - an independent, non-profit organisation with a vision of transforming capital markets for a sustainable future, where impact investing is an effective tool for deploying capital. Kieron joined the Institute following seven years as Chief Executive of Guy’s & St Thomas’ Foundation, one of the world’s oldest foundations, and itself a pioneer in incorporating impact investment into the investment strategy of its £1 billion endowment. At Guy’s & St Thomas’, Kieron has led some of the UK’s most innovative and impactful alliances to reduce health inequalities. He was an early leader in impact investing, having joined Guy’s & St Thomas’ from the Cabinet Office, where he was Director of Impact Investment and the key architect, starting in 2012, of the UK Government’s strategy to make the UK a global hub for impact investing. That catalytic work included the creation of Big Society Capital, the world’s first wholesale social investor, and putting impact investing on the agenda of the G8 during the UK’s presidency, in particular through the creation of the Social Impact Investment Taskforce. In this wideranging conversation, Kieron reflects on the evolution of impact investing over the last two decades and the UK's place in the global industry. He also share his thoughts on the pushback on ESG and the role of impact investing in creating the conditions for growth.

In this episode of the IMPACT = podcast, we talk to Sapna Shah, a partner at Novastar Ventures, one of the first and largest VC firms in Africa that focuses on entrepreneurs building transformative businesses in Africa. Originally from Kenya, Sapna started her career in London in international banking, initially at Lloyds TSB and later at HSBC, working with entrepreneurs and SMEs at various stages of their business lifecycle in the UK, US, Europe and the Middle East.  She returned to Kenya in 2012 to continue her passion for working with entrepreneurs, this time as an investor at Acumen and co-founder of a food start-up. She joined Novastar in 2015.  In this conversation with our host Andrew Murray Watson, Sapna shares her insights on the transformation of Africa’s venture ecosystem over the last decade and its future potential growth. She also discusses the role of entrepreneurship in helping solve complex problems, as well as the opportunities and challenges for investors on the African continent.

In our next episode of the IMPACT = podcast, we talk to Jacqueline Novogratz, impact investment pioneer and Founder and CEO of Acumen. Jacqueline shares her inspiring journey of creating Acumen in 2001, with a vision of changing the way the world tackles poverty by providing patient capital to support businesses and entrepreneurs. She also talks about some of the early successes and failures of Acumen, and how they shaped the organisation’s strategy and culture.  To date, Acumen has invested over $150 million into over 150 companies across Africa, Latin America, South Asia, and the United States. These companies have leveraged an additional $746 million and brought basic services like affordable education, health care, clean water, energy and sanitation to more than 308 million people. Prior to Acumen, Jacqueline founded and directed The Philanthropy Workshop and The Next Generation Leadership programs at the Rockefeller Foundation. Jacqueline serves on boards of the Aspen Institute and 60 Decibels and sits on the Advisory Councils of the Harvard Business School Social Enterprise Initiative, the Oxford Said Global Leadership Council, the NYU Stern Center for Business and Human Rights, and UNICEF. In this conversation with our host Andrew Murray Watson, Jacqueline discusses the constant need for the impact investment industry to learn and adapt to the changing needs of the communities it serves - leveraging data, technology, and partnerships to measure and improve its impact where possible. She also shares some of the principles and practices of moral leadership within impact investing and discusses the importance of bringing in the right kind of capital to help companies scale.

In this IMPACT = podcast episode, we talk to our Chief Executive Officer, Nick O'Donohoe. Nick joined BII as its Chief Executive in June 2017 and is also a member of the Board. Prior to joining BII, he co-founded Big Society Capital with impact investing pioneer Sir Ronald Cohen. Nick served as its Chief Executive Officer from 2011 to December 2015. BSC is an independent financial institution established by the UK Government as “the world’s first social investment bank”. Previously Nick worked at JP Morgan, latterly as Global Head of Research. He was a member of the Management Committee of the Investment Bank and the Executive Committee of JP Morgan Chase, as well as the senior sponsor for JP Morgan’s Social Finance Unit. Nick co-authored “Impact Investments: An Emerging Asset Class”, published by JP Morgan and the Rockefeller Foundation in November 2010. In this in-depth discussion with our host Andrew Murray-Watson, Nick talks about his impact investing journey and shares his insights on the role finance can play in helping solve some of the world's biggest development challenges.

In our next episode, we talk to Faheen Allibhoy, Managing Director of the J.P. Morgan Development Finance Institution.  The J.P. Morgan Development Finance Institution (JPM DFI) was launched in January 2020 to spur investment supporting economic development in emerging markets. The JPM DFI aims to increase the origination and distribution of assets with development impact to meet the Sustainable Development Goals.  Faheen is a seasoned investment professional with a deep understanding of international business, emerging markets, and the development agenda. She has sector expertise in infrastructure, renewable energy, industrials, and private equity funds. Prior to J.P. Morgan, she spent 18 years at the International Finance Corporation (IFC), the private sector arm of the World Bank, where she was responsible for setting strategy, business development, transaction execution and portfolio management.  In her role, Faheen was responsible for IFC’s investments, advisory operations and client relationships in Senegal, Cape Verde, The Gambia, Guinea Bissau and Mauritania. Faheen started her career at Merrill Lynch in Investment Banking based in New York. She is a member of the Council of Foreign Relations, Wellesley Business Leadership Council, the Harvard Business School Advisory Council for Africa and the World Economic Forum’s Global Future Council on the Future of Resilient Financial Systems.

In our next episode of the IMPACT = podcast, we speak to Dr Frank Aswani, Chief Executive Officer of the African Venture Philanthropy Alliance (AVPA). AVPA is a pan-African network of investors who are collaborating to increase the flow of capital into social investments across the continent, ensuring it is deployed for maximum social Impact. Frank has extensive experience in both the private and social sectors. Before joining AVPA Frank held the position of VP and Director of Strategic Relations for six years at the African Leadership Academy (ALA) in Johannesburg. In this enlightening conversation with our host Andrew Murray Watson, Frank provides an overview of the impact investing landscape on the African continent and the untapped potential of its population. A passionate advocate for impact-led investment, Frank believes the opportunity for this type of transformational investment across Africa is huge.

In our next episode of the IMPACT = podcast, we talk to Amit Bouri, Chief Executive Officer of the Global Impact Investing Network (GIIN) Amit Bouri co-founded of the GIIN in 2009 and today it is the largest global community of impact investors dedicated to increasing the scale and effectiveness of impact investing. Today, Amit dedicates his work to engaging industry leaders, institutional investors, foundations, and leading financial institutions all over the world to advocate for greater integration of social and environmental factors in all investment decisions, and to develop the tools and resources needed to effectively mobilise more capital towards impact investments. In this conversation with our host Andrew Murray Watson, Amit shares his insights on the growth of the impact investing, the challenges it faces in scaling, and where he thinks it is going next. He also shares his views on ESG versus impact investment, and mobilising capital to help achieve the sustainable development goals.

IMPACT = has been founded as a platform to share impact expertise – through an open dialogue with leaders in the industry and a collaborative exchange of ideas, lessons and examples. In our first IMPACT = podcast, we talk to Andy Kuper, Chief Executive Officer of LeapFrog Investments.   Andy Kuper is a world-renowned responsible investment leader, who founded LeapFrog in 2007. Driven by its “Profit with Purpose” mission, today it is one of the world’s leading impact investors, driving social transformation through innovative financial strategies and investments. Focused on emerging markets, particularly Africa and Asia, LeapFrog identifies high-potential companies that align with their mission. Through investments in healthcare, financial services, and insurance, LeapFrog reaches millions, promoting financial inclusion and improving healthcare access. In this conversation with our host Andrew Murray Watson, Andy shares his journey into the world of impact investment and discusses how the industry has evolved and where he thinks it is going next. With a deep commitment to sustainable development, Kuper is a visionary in the field.

Research shows that women and girls are disproportionately affected by climate change and in diverse ways - from peace and security, to education, health and livelihood.  It is therefore critical that women are included in the decision-making process to ensure that climate action is effective and equitable for all. Listen as Evelyne Batamuliza (Gender and Poverty Advisor at UNDP), Musonda Kapena (Zambian conservationist and nature-based solutions advocate) and Liberatha Kawamala (environmental conservationist and founder of Libe Green Innovations), explore: The unique knowledge and experience that women possess, particularly at the local and rural level, which is crucial to factor into the fight against climate change. The importance of women playing key leadership roles in designing mitigation and adaptation solutions. Why women should be represented at the highest levels in climate-related policymaking and climate finance allocation. Interesting climate innovation initiatives being led by women across the continent. The views expressed in this podcast are the contributor’s own and do not necessarily reflect BII’s investment policy or the policy of the UK government.