Investing in Impact | Impact Investing

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------Welcome back to Investing in Impact, the podcast where we dive deep into the minds of visionary leaders building a more sustainable and equitable future.Today, I’m joined by Josh Kaufman, CEO and Co-Founder of Khasma Capital. Khasma is on a mission to empower development teams by providing the critical early-stage capital and support needed to accelerate the construction of low-carbon infrastructure.In a world where many promising climate technologies struggle to move from pilot to scale, Khasma stands out. Their unique investment model combines flexible financing with strategic and operational expertise—bridging a crucial gap that traditional capital often overlooks.In this conversation, Josh shares his journey of launching and rebranding the firm, what it takes to commercialize climate infrastructure, and why Khasma is doubling down on sectors like waste upcycling, textile recycling, alternative fuels, and long-duration energy storage.TakeawaysJosh Kaufman's journey into climate finance began with a passion for renewable energy.Kazma Capital focuses on empowering development teams rather than taking control of projects.Investment in climate solutions requires a clear project definition and risk assessment.Innovative projects include solar panel recycling and renewable heating oil from biomass.The learning curve in the climate sector involves understanding various energy technologies.The renewable energy sector has seen significant growth and cost reductions over the past decade.Challenges in reconfiguring the energy grid are influenced by regulatory bodies and utilities.Competition in the energy market is essential for innovation and efficiency.Solar energy continues to grow, but faces challenges in maintaining growth rates.Kazma Capital's revenue model includes both development risk and equity stakes in projects. ----------------------------------------Thrive in the Impact Economy.Join 20k+. Subscribe to our weekly newsletter for the latest news, exclusive interviews, and curated products that drive the Impact Economy. Our mission is to highlight and celebrate the founders, creators, investors, and conscious brands shaping the future of conscious business and philanthropy.To learn more, please visit causeartist.com

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------Fiber Global Raises $20M to Scale Circular Building MaterialsFunding: $20 million Series AGoal: Expand production of sustainable materials that reduce construction wasteImpact: Tackling industrial emissions and advancing the circular economyRead more →Lumion Secures $10M to Power the Future of Trade SchoolsFunding: $10 million seed roundGoal: Build an operating system to modernize vocational educationImpact: Addressing the skilled labor gap through better tech and infrastructureRead more →Swen Capital Raises $183M for Ocean Impact VenturesFunding: €183 millionGoal: Invest in early-stage startups protecting marine ecosystemsImpact: Scaling technologies for ocean conservation and sustainabilityRead more →Mealogic Raises $16M to Advance Food-as-Medicine InnovationFunding: $16 millionGoal: Integrate personalized nutrition and clinical outcomes through techImpact: Helping prevent chronic illness and improve health through better food systemsLearn more →Accessibility Startup Sociability Raises $3.5MFunding: $3.5 million seed roundGoal: Build accessible tech solutions for people with disabilitiesImpact: Empowering inclusive innovation with support from global backersLearn more about Sociability →SparkCharge Secures $30.5M to Expand Mobile EV ChargingFunding: $30.5 millionGoal: Scale its mobile charging network across the U.S.Impact: Making EV adoption more convenient and equitable through on-demand serviceRead more → ----------------------------------------Thrive in the Impact Economy.Join 20k+. Subscribe to our weekly newsletter for the latest news, exclusive interviews, and curated products that drive the Impact Economy. Our mission is to highlight and celebrate the founders, creators, investors, and conscious brands shaping the future of conscious business and philanthropy.To learn more, please visit causeartist.com

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------In this episode, I had the pleasure of speaking with Jacqueline Novogratz, Founder & CEO of Acumen on her global journey that led her from the world of international banking to the heart of social entrepreneurship—beginning in Rwanda, and now reaching 650+ million lives through Acumen’s work around the world.From Chase Bank to Kigali: A Journey Rooted in EmpathyJacqueline’s journey began not with a grand strategy, but with a moment of clarity while working in Rwanda in the late 1980s, where she helped launch one of the country’s first microfinance institutions.There, she witnessed how markets could be harnessed to empower individuals—especially women—but also saw how fragmented and fragile traditional aid systems were."Access isn't enough; capability is key."That idea would eventually become Acumen.The Founding of Acumen: Bridging Markets and PhilanthropyFounded in 2001, Acumen was created to tackle what Jacqueline calls "the blue flame" space—the gap between pure philanthropy and market-driven capitalism. Acumen uses “patient capital” to invest in entrepreneurs solving problems in energy, agriculture, healthcare, education, and workforce development."We need to reframe what risk means in investing."Acumen has since invested over $150 million into companies that have impacted millions of people in low-income communities across Africa, South Asia, Latin America, and the U.S. But the goal isn’t just scale—it’s systemic change.What It Takes to Build Markets That Work for the PoorJacqueline explains that creating sustainable impact requires far more than capital—it demands a deep understanding of local contexts, cultural norms, and the lived experiences of the communities being served."The status quo exists for a reason; change is hard."She emphasizes that real progress depends on:Entrepreneurial courageLong-term thinkingCollaboration with governments and civil societyAcumen works to build "markets with moral imagination", where value creation doesn’t come at the cost of human dignity or environmental degradation.Education, Circular Impact, and the Future of Social EntrepreneurshipAnother major focus of Acumen is education. Through the Acumen Academy, they’ve trained over 1,800 social enterprise leaders, equipping them with tools in moral leadership, storytelling, and systems thinking.Jacqueline envisions a circular economy of impact investing, where capital flows to and from communities, creating sustainable, inclusive systems over time."Resilience and moral imagination are essential qualities for social entrepreneurs."She sees the future of impact rooted in innovative partnerships—between private and public sectors, startups and institutions, and across geographies.A Legacy of Courage and CompassionAs Jacqueline looks ahead, her message is clear: we need a new moral framework for capitalism—one that measures success not just in returns, but in human dignity and long-term value for society.Her story is a reminder that systems can change, markets can heal, and entrepreneurs—when supported with the right kind of capital and community—can solve the world’s most pressing problems. ----------------------------------------Thrive in the Impact Economy.Join 20k+. Subscribe to our weekly newsletter for the latest news, exclusive interviews, and curated products that drive the Impact Economy. Our mission is to highlight and celebrate the founders, creators, investors, and conscious brands shaping the future of conscious business and philanthropy.To learn more, please visit causeartist.com

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------Welcome to Episode 88 of the Investing in Impact podcast. Today, I’m joined by Medea Nocentini, Senior Partner at Global Ventures and Founder of C3 – Companies Creating Change, about scaling impact across the Middle East and Africa.Medea brings a unique blend of corporate strategy, venture capital, and impact entrepreneurship. At Global Ventures, she invests in growth-stage startups transforming emerging markets through technology.As founder of C3, a B Corp-certified social enterprise, she has supported over 300 impact-driven startups across 27 countries, helping them raise more than $550 million to date.In this episode, we discuss:The evolution of impact investing in the Middle East and AfricaKey challenges and opportunities for startups in frontier marketsHow C3 builds scalable programs to support foundersThe role of partnerships and ecosystem-building in driving long-term impactLet’s dive in. ----------------------------------------Thrive in the Impact Economy.Join 20k+. Subscribe to our weekly newsletter for the latest news, exclusive interviews, and curated products that drive the Impact Economy. Our mission is to highlight and celebrate the founders, creators, investors, and conscious brands shaping the future of conscious business and philanthropy.To learn more, please visit causeartist.com

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------Welcome to Episode 87 of the Investing in Impact podcast. Today, I’m joined by Dr. Andy Kuper, Founder and CEO of LeapFrog Investments, a pioneering firm that has reshaped how global capital can drive profit with purpose.Dr. Andy Kuper, founder and CEO of LeapFrog Investments, has redefined how private capital can create meaningful change. Since launching the firm in 2007, Kuper has led with a bold vision: to deliver "Profit with Purpose" by investing in businesses that generate strong returns while solving real-world challenges across Asia and Africa.📈 Impact at Scale: 537 Million Lives ReachedToday, LeapFrog’s portfolio companies serve over 537 million people, providing access to essential services like healthcare, financial tools, and climate solutions. Of those reached, 359 million are emerging consumers, many of whom are gaining access to formal financial and health services for the first time.Beyond reach, LeapFrog’s investments have supported over 241,000 jobs and livelihoods in more than 37 countries, contributing to inclusive economic development at scale.💸 Billions Raised, Sustainable Growth DeliveredLeapFrog has secured nearly $3 billion in capital commitments from some of the world’s leading financial institutions. The firm typically invests $20–75 million in high-growth companies led by exceptional teams, targeting influential minority or majority stakes.These portfolio companies have achieved an average annual growth rate of 23% since investment—proving that social impact and financial success are not mutually exclusive.🏆 Global Recognition for Global ImpactLeapFrog has received international acclaim for its transformative approach. Fortune named it one of the Top 5 Companies to Change the World, alongside Apple and Novartis—making it the first private investment firm to earn that recognition.Dr. Kuper has been honored worldwide, including being appointed an Officer of the Order of Australia in 2022 for distinguished service to impact investing and financial inclusion. He’s also been recognized by the World Economic Forum, EY, YPO, and the Economist Group for his global leadership.🎓 Scholar, Author, and AdvocateOriginally from South Africa and now an Australian citizen, Andy Kuper holds a Ph.D. from the University of Cambridge and has held academic roles at Harvard, Cambridge, and Columbia. He’s the author of two books on globalization and governance and has co-authored publications with Nobel laureates and international leaders.📊 Leading the Way in Impact MeasurementLeapFrog is not only a pioneer in impact investing but also a leader in measuring and reporting impact. The firm is a signatory to the UN Principles for Responsible Investment, earning their highest A+ rating. It also plays a leading role in advancing industry standards as a founding Investors Council Member of the GIIN and a contributor to the Impact Management Project.🚀 Aiming to Impact One Billion LivesWith a mission to reach one billion people through the power of capital markets, LeapFrog Investments continues to raise the bar for what’s possible in private equity and impact investing.By combining rigorous financial discipline with a deep commitment to social good, LeapFrog proves that capital can be a catalyst for lasting, systemic change—especially in the places that need it most. ----------------------------------------Thrive in the Impact Economy.Join 20k+. Subscribe to our weekly newsletter for the latest news, exclusive interviews, and curated products that drive the Impact Economy. Our mission is to highlight and celebrate the founders, creators, investors, and conscious brands shaping the future of conscious business and philanthropy.To learn more, please visit causeartist.com

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------Welcome to Episode 86 of the Investing in Impact podcast. Today, I'm joined by Howard Fischer, Co-Founder and Chief Evangelist of Gratitude Railroad, to discuss his journey from Wall Street to impact investing and how Gratitude Railroad is building a community-driven approach to fund entrepreneurs creating lasting social and environmental change.Prior to his work in impact investing, Howard spent over 30 years in traditional finance as the Founder and CEO of Basso Capital Management, a hedge fund specializing in convertible securities.He previously held senior trading roles at Smith Barney, Drexel Burnham Lambert, and Cohen Feit & Company, and began his career as a Certified Public Accountant in both public and private sectors.Howard currently serves on the boards of 1% for the Planet, The Carbon Underground, and the Garrison Institute’s Compassionate Leaders in Finance program.He also advises BrightEdge, the investment fund of the American Cancer Society, and has held board positions with DoneGood, Builders Fund, Atlas Impact Partners, and Blackdirt Capital.He holds a B.S.E. in Accounting and Finance from the Wharton School at the University of Pennsylvania, and was a Fellow in Harvard University’s Advanced Leadership Initiative in 2013 and 2014. ----------------------------------------Thrive in the Impact Economy.Join 20k+. Subscribe to our weekly newsletter for the latest news, exclusive interviews, and curated products that drive the Impact Economy. Our mission is to highlight and celebrate the founders, creators, investors, and conscious brands shaping the future of conscious business and philanthropy.To learn more, please visit causeartist.com

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------Welcome to Episode 85 of the Investing in Impact podcast. Today, I'm joined by Matt Eldridge, Executive Director of Realize Impact, on using Donor Advised Funds to innovate impact investing.Impact investing is often perceived as complex, requiring a balance between financial returns and social good.Realize Impact eliminates these barriers, providing a streamlined process that enables individuals, foundations, and donor-advised funds (DAFs) to invest in high-impact ventures while maintaining financial sustainability.How It WorksImpact investing through Realize Impact is facilitated via the Philanthropic Investment Grant (PHIG)—a simple and effective way to direct capital toward high-impact ventures.By recommending an investment and providing matching capital, donors can amplify their contributions while supporting meaningful change.Realize Impact simplifies impact investing into three steps:Grant Recommendation – Investors recommend an impact investment through a grant from a DAF, foundation, or personal funds.Due Diligence & Investment – Realize Impact conducts research, reviews terms, and executes the investment in debt, equity, or revenue-based funding.Returns & Reinvestment – 99% of the investment returns are donated back to the investor’s recommended DAF, foundation, or nonprofit for reinvestment.This model allows investors to support impactful projects without the complexities of direct investment management.What is a Donor Advised Fund?A Donor Advised Fund is a philanthropic giving vehicle that allows donors to contribute funds, receive immediate tax benefits, and then recommend grants to eligible charities over time.Think of it as a charitable savings account, where individuals or families set aside funds dedicated to philanthropic purposes.These funds are managed by sponsoring organizations, such as community foundations, universities, or specialized charitable organizations, which administer the DAF on behalf of the donor.Unlocking Capital for Global SolutionsSignificant capital remains idle in donor-advised funds and foundations. Realize Impact mobilizes these funds into ventures addressing key global challenges such as:Climate change – Investing in renewable energy and sustainable business models.Economic empowerment – Supporting underrepresented entrepreneurs with access to capital.Social equity – Financing housing, education, and healthcare initiatives.By actively deploying philanthropic capital, Realize Impact maximizes both financial and social returns.Transparent Fee StructureRealize Impact offers a straightforward, affordable pricing model:$500 flat fee for investments of $10,000 or more.No fee for investments under $10,000 (though returns are not re-donated).This ensures accessibility while maintaining financial sustainability.Redefining Impact InvestingContrary to the belief that impact investing sacrifices returns, Realize Impact proves that financial and social benefits can align.By reinvesting returns into donor-advised funds and nonprofits, the organization amplifies the impact of every dollar. ----------------------------------------Thrive in the Impact Economy.Join 20k+. Subscribe to our weekly newsletter for the latest news, exclusive interviews, and curated products that drive the Impact Economy. Our mission is to highlight and celebrate the founders, creators, investors, and conscious brands shaping the future of conscious business and philanthropy.To learn more, please visit causeartist.com

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------Welcome to Episode 84 of the Investing in Impact podcast. Today, I'm joined by Daryn Dodson, Founder and Managing Director of Illumen Capital, an impact fund of funds committed to advancing gender and racial equity in financial markets.Illumen Capital invests in leading growth, private equity, and venture impact funds, providing fund managers with targeted coaching and tools to reduce implicit biases in decision-making.Previously, Daryn consulted for the Board of Calvert Funds, a $15 billion impact investing pioneer, managing a global portfolio of over 40 funds across five continents, encompassing more than 350 companies.He also served as Director of University and Corporate Partnerships at The Idea Village, where he secured over 100,000 hours and $2 million in resources from private equity firms, business schools, and Fortune 500 companies to rebuild New Orleans’ entrepreneurial ecosystem after Hurricane Katrina.He serves on the Board of Directors for Ben & Jerry’s, the CFA Institute’s Future of Finance Advisory Council, the New Venture Fund, and the Impact Assets Investment Committee.Daryn earned his M.B.A. from Stanford University, where he served on the Dean’s Management Board, and his A.B. from Duke University. His work reflects a steadfast commitment to equity and measurable impact in financial markets and beyond.About Illumen CapitalIllumen Capital, an impact-focused fund of funds, is on a mission to challenge the status quo. By reducing racial and gender bias in financial decision-making, Illumen Capital aims to create a more inclusive and optimized asset management industry—one that not only drives equity but also enhances financial performance.Illumen Capital partners with institutional investors to empower the next generation of diverse-led venture and private equity fund managers.Their mission is rooted in the belief that an equitable asset management industry will be the cornerstone of a more just and prosperous future.Why it matters:Racial and gender bias limits potential. Research led by Illumen Capital and Stanford SPARQ revealed that race influences the decision-making of professional investors. Alarmingly, high-performing Black-led funds are often rated more harshly on subjective criteria such as competence and social fit.Missed opportunities: This bias not only perpetuates inequities but causes investors to unknowingly overlook high-potential investment opportunities. ----------------------------------------Thrive in the Impact Economy.Join 20k+. Subscribe to our weekly newsletter for the latest news, exclusive interviews, and curated products that drive the Impact Economy. Our mission is to highlight and celebrate the founders, creators, investors, and conscious brands shaping the future of conscious business and philanthropy.To learn more, please visit causeartist.com

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------Welcome to Episode 83 of the Investing in Impact podcast. Today, we’re joined by Dan Fishman, Co-Founder and General Partner of Regeneration.VC, a venture capital firm at the forefront of Consumer ClimateTech. Regeneration.VC specializes in supporting early-stage companies that are redefining consumer industries through sustainability-focused innovation.TakeawaysThe next generation of founders is focused on solving climate issues.Sustainable brands are outpacing conventional brands in growth.Technology is key to transforming material science and production methods.Supply chains can be innovated without complete overhaul.Creativity in entrepreneurship is being overshadowed by data-driven decisions.The U.S. has potential to lead in climate tech but needs to evolve.California remains a leader in climate legislation and innovation.The future of work in climate tech is about creating lasting careers.Regeneration.VC’s mission is to drive systemic change by investing in groundbreaking solutions that prioritize circularity, sustainable materials, and carbon reduction technologies. By addressing the intersection of consumer demand and environmental impact, Regeneration.VC aims to create a future where business growth aligns with planetary health.Through their portfolio, the firm champions visionary startups working on innovative solutions in sustainable fashion, eco-friendly packaging, renewable products, and more. Regeneration.VC is not just funding businesses but fostering a movement toward a regenerative economy that prioritizes environmental restoration and resilience.Dan brings a unique perspective to this work, shaped by his diverse career spanning entertainment, fashion, and food industries. He co-founded Bulldog Entertainment Group, worked with major celebrity brands, and launched successful fashion ventures like House of Harlow 1960 and Winter Kate. In the food sector, he was the first investor and President of Coolhaus, leading its vegan product line launch and eventual acquisition by Perfect Day. His entrepreneurial expertise and passion for sustainability drive the vision of Regeneration.VC. ----------------------------------------Thrive in the Impact Economy.Join 20k+. Subscribe to our weekly newsletter for the latest news, exclusive interviews, and curated products that drive the Impact Economy. Our mission is to highlight and celebrate the founders, creators, investors, and conscious brands shaping the future of conscious business and philanthropy.To learn more, please visit causeartist.com

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------In episode 82 of the Investing in Impact podcast, I speak with David Lynn, Co-Founder and CEO of Mission Driven Finance (MDF), an organization focused on closing capital gaps and catalyzing economic opportunities in underserved communities.In this conversation, David shares his unconventional journey from tech to finance and the catalysts that led him to establish MDF.We dive into MDF’s mission to bridge capital gaps by focusing on private credit and real estate to support local businesses, and David highlights the importance of community-driven due diligence, where relationships are prioritized over traditional metrics.David also discusses the diverse sources of capital backing MDF, including foundations, high-net-worth individuals, and institutional investors, and MDF's expansion from its roots in San Diego to a national scale.Looking forward, he outlines MDF's ambitious goal of moving a billion dollars into communities by 2027 and the broader potential for blended finance policies to drive growth in impact investing. ----------------------------------------Thrive in the Impact Economy.Join 20k+. Subscribe to our weekly newsletter for the latest news, exclusive interviews, and curated products that drive the Impact Economy. Our mission is to highlight and celebrate the founders, creators, investors, and conscious brands shaping the future of conscious business and philanthropy.To learn more, please visit causeartist.com