Impact investing

American Student Assistance Announces Intention to Invest $25 Million in Funds, Early-Stage Firms, and Companies with Diverse Management Focused on Increasing Equitable Access to Impactful Career Readiness and Future of Work Opportunities for Young People

Retrieved on: 
Monday, April 8, 2024
Innovation, Entrepreneurship, Impact investing, Tablet, Suite, Investment, ASA, Creativity

Since launching its investment strategy in April of 2022, ASA has invested over $40 million in key sectors, such as postsecondary pathways, workforce development, and career-focused education.

Key Points: 
  • Since launching its investment strategy in April of 2022, ASA has invested over $40 million in key sectors, such as postsecondary pathways, workforce development, and career-focused education.
  • As a result, more than 40 million learners have been impacted through fund investments, as well as through direct investments.
  • "At ASA, we believe that increasing diversity in, and access to, early-stage capital is integral to driving innovation and creativity.
  • The new initiative will also invest in diverse managers of funds that are mission-aligned to ASA's goals.

R1 RCM to Restate Certain Previously Issued Financial Statements Due to Errors in Accounting for Expenses Associated with Historical Acquisitions

Retrieved on: 
Monday, November 13, 2023
EBITDA, Pit additive, Ernst & Young, Audit committee, Bank statement, Reliability-centered maintenance, GAAP, RCM, Adjustment, Business operations, Impact investing

MURRAY, Utah, Nov. 13, 2023 (GLOBE NEWSWIRE) -- R1 RCM Inc. (NASDAQ: RCM) (“R1”), a leading provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers, today announced its decision to restate its previously issued financial statements for the years ended December 31, 2022 and 2021 and interim periods, as well as for the first two quarters of 2023.

Key Points: 
  • Immediately prior to the scheduled filing of its Form 10-Q for the third quarter 2023, R1 identified errors related to the accounting for certain acquiree compensation costs (e.g., transaction bonuses and accelerated equity award vesting) incurred as a result of historical acquisitions.
  • These expenses should have been recorded as “Other expenses” within the consolidated statements of operations and comprehensive income and instead were included in the purchase price allocations and ultimately recorded as goodwill in the consolidated balance sheets.
  • R1 has determined that the drivers of the corrections are acquiree compensation expenses equal to approximately $7.8 million for 2022 and $8.4 million for 2021.
  • Based on information currently available, R1 does not expect a material impact to 2022 and 2021 revenue or Adjusted EBITDA.

New LP Advisory Council Established to Advance Impact Investing in the Private Market

Retrieved on: 
Thursday, July 6, 2023
GCM, Communication, Partnership, Cambridge Associates, Investment, ICM, Value, Morrison & Foerster, Impact investing, Exit, Record, GP, Hope, Research, Ford Foundation, LP record, Bank of America, Data, Council, UBS, Bank, Environment, Nunes memo, Risk management, Renewable energy

NEW YORK, July 6, 2023 /PRNewswire/ -- Impact Capital Managers (ICM), an association of market-rate private capital funds seeking to advance members' performance and to scale the marketplace with integrity and authenticity, today announced the launch of a new high level LP Advisory Council ("Council") to accelerate progress toward shared objectives in private capital impact investing. The new body is intentionally non-transactional to encourage candid sharing of key challenges and opportunities between GP and limited partner stakeholder groups.

Key Points: 
  • The ICM Spring Convening in Philadelphia in 2023 served as a preliminary launch for the Council.
  • The formation of the Council comes on the heels of ICM Institute and Morrison Foerster's new research, Strengthening Outcomes: Impact and Financial Value at Exit .
  • Across a dataset of ~230 member exits, 65% met or exceeded financial return expectations, and 81% met or exceeded impact expectations.
  • Together, we will actively promote communication and knowledge sharing among ICM members, seek to standardize impact reporting, advocate on behalf of ICM members, and strive to mobilize more capital to private impact investing."

U.S. Impact Investing Alliance Publishes "Impact at Work" to Spotlight Opportunities for Corporate Impact Investing

Retrieved on: 
Wednesday, May 24, 2023
Federal Reserve Bank, Investment, COVID-19, Impact investing, Work, Research, Global Impact, Thought, Capital, Economic development, Robert, Ecosystem, Longevity, News, Renewable energy, Cryptocurrency, Management, Let Wall Street Pay for the Restoration of Main Street Bill

NEW YORK, May 24, 2023 /PRNewswire/ -- The U.S. Impact Investing Alliance ("the Alliance"), an organization dedicated to building the impact investing ecosystem, today published "Impact at Work: An Examination of Corporate Impact Investing Strategies and Their Durability."

Key Points: 
  • NEW YORK, May 24, 2023 /PRNewswire/ -- The U.S. Impact Investing Alliance ("the Alliance"), an organization dedicated to building the impact investing ecosystem, today published "Impact at Work: An Examination of Corporate Impact Investing Strategies and Their Durability."
  • These investments are increasingly leveraging impact investing tools over traditional grantmaking tools, but more transparency, accountability and sharing of best practices is still needed."
  • Given concerns about whether these commitments are built on authenticity and long-term thinking, "Impact at Work" explores the durability of corporate impact investing strategies.
  • Through this report, the Alliance seeks to capture an important trend around corporate impact investing and generate further conversations around the need for long-term, authentic engagement from companies in leveraging their capital for impact.

New Study by Impact Capital Managers and Morrison Foerster Shows Almost Two-Thirds of Impact Exits Meet or Exceed Financial Performance Expectations

Retrieved on: 
Monday, May 8, 2023
Cloud, IPO, Cambridge Associates, International Finance Corporation, SIPA, Investment, ICM, Value, Impact investing, Exit, Energy, Research, KKR, Attention, Orientation, Columbia Business School, McKinsey & Company, Sale, TPG, LP record, Caprock, US, Clutch (eggs), Initial public offering, Growth, ESG, GP, Morrison & Foerster, HCAP, Renewable energy, Cryptocurrency, Risk management, Marketing, Management, Security (finance)

NEW YORK, May 8, 2023 /PRNewswire/ -- ICM Institute, a nonprofit research arm of the Impact Capital Managers (ICM), a membership association of leading private capital funds, together with leading global law firm Morrison Foerster, today published a new report, "Strengthening Outcomes: Impact and Financial Value at Exit," that shows almost two-thirds (65%) of impact exits meet or exceed financial performance expectations. The first-of-its-kind study draws on a sample size of 230 exits from ICM members, each of which manages a market-rate impact fund and is therefore uniquely positioned to provide data and insights into the success of impact exits and the key drivers of that success.

Key Points: 
  • The continued growth in impact investing has led to a parallel increase in exits by impact investors.
  • ICM Institute analyzed 230 exits and found that 42% outperformed financial expectations, 23% were "at target," and 35% underperformed.
  • The figures are similar when it comes to impact performance, with 42% outperforming impact expectations, 39% "at target," and 19% underperforming.
  • Investors' impact goals were met or exceeded in 81% of exits, reflecting a slightly higher level of performance in impact as compared to financial performance.

ImpactableX Launches the World's First Impact Rating Platform to Measure the ROI of Social and Environmental Innovation

Retrieved on: 
Thursday, April 13, 2023
Propel, Connective tissue, LP record, Growth, AI, Nature, Impact investing, ROI, Intelligence, Investment, Cryptocurrency, Techstars

PHILADELPHIA, April 13, 2023 /PRNewswire/ -- ImpactableX, the world's first impact rating system to give transparency, insight, and comparability into the social and environmental performance of the private market, announces its launch. Now, investors and companies can have an objective and substantiated way to measure the ROI of social and environmental efforts while being able to cross-compare against other companies through an AI-enabled dashboard.

Key Points: 
  • By standardizing impact analysis through an AI-enabled platform, purpose-driven companies and their investors can finally gain visibility into the relationship between impact and capital.
  • PHILADELPHIA, April 13, 2023 /PRNewswire/ -- ImpactableX , the world's first impact rating system to give transparency, insight, and comparability into the social and environmental performance of the private market, announces its launch.
  • Now, investors and companies can have an objective and substantiated way to measure the ROI of social and environmental efforts while being able to cross-compare against other companies through an AI-enabled dashboard.
  • Impactable's platform is the connective tissue between impact investors and private companies, creating a centralized source of impact intelligence across stakeholders.

Aussie start up AirSeed Technologies kickstarts Series A raise Fund deal worth up to $200M

Retrieved on: 
Friday, March 24, 2023
Central Organization of Trade Unions (Kenya), Business development, Human, CIM, GPS, Investment, Orangi Pilot Project, Investment company, Australian Ethical Investment, Impact investing, Treasury Wine Estates, Research, Carbon, Government, Biodiversity, Climate change, Estate (law), Macquarie Group, IPCC, Soil, Nature, Risk, Machine learning, Head, Big data, Climate, ESG, Growth, AI, CSIRO, Cryptocurrency, Renewable energy, Risk management, Agriculture, Legume, Telstra

AirSeed and CIM expect the restoration and carbon sequestration projects to generate meaningful upfront revenue to AirSeed over the next five years in service provider revenue to conduct planting.

Key Points: 
  • AirSeed and CIM expect the restoration and carbon sequestration projects to generate meaningful upfront revenue to AirSeed over the next five years in service provider revenue to conduct planting.
  • To support this, AirSeed is launching its Series A capital raise to provide additional funds to execute this milestone contract and scale the business to maximise on this transformative opportunity.
  • AirSeed is also working with Treasury Wine Estates’ brand St Hubert’s The Stag to plant 100,000 seed pods this year.
  • AirSeed has also confirmed highly respected climate transition and business specialist Mara Bún as the latest addition to the Board.

Ethiopia and the Netherlands Endorse the Launch of a Groundbreaking Private Sector Water Management Initiative by Nedamco Africa to Improve Water Needs for Over 10 Million People

Retrieved on: 
Friday, March 24, 2023
Heart, Pressure, Failure, Drinking water, Investment, Face, Water pollution, Dutch government response to the COVID-19 pandemic, VEI, Water quality, Water, Impact investing, Quality of life, Foreign Affairs, Microsoft, Energy, Carbon, Government, Sustainable Development Goals, Ministry, Deltar, Climate change, River, Risk, Digital, Digital twin, Federation, Kingdom, Water resources, Environment, Conference, Lake, Mining, Renewable energy, Ethiopians

NEW YORK, March 24, 2023 (GLOBE NEWSWIRE) -- Today at the UN23 Water Conference in New York, H.E. Dr. Eng. Habtamu Itefa Geleta, Minister for the Ministry of Water and Energy of the Federal Democratic Republic of Ethiopia, and Kitty van der Heijden, Director-General International Cooperation at Ministry of Foreign Affairs of the Kingdom of the Netherlands, endorsed the launch of the Ethiopian SDG6 Water Management initiative. The initiative has the aim to improve the water needs of millions of people and will be based on digitally verifiable outcomes focused on the reduction of non-revenue water, increase of water quality, increased access to water, and higher availability of water. In a “first-ever”, leveraging the latest available technologies, the solution will measure, report, and verify outcomes of Water Management, starting in Addis Ababa, a city of 10 million inhabitants, starting in a sub-set of the city, using Digital Twins in a fully digital and transparent manner. This project is a collaboration of the Ethiopian local and federal government and multiple innovators in the profit and non-profit sectors like Microsoft, Bentley Systems, Deltares and VEI. The launch is endorsed by the Dutch Government. The SDG6 Water Management initiative has the potential to be rolled out to over nineteen other countries in fifty-five cities, improving the water needs of half a billion people.

Key Points: 
  • The SDG6 Water Management initiative has the potential to be rolled out to over nineteen other countries in fifty-five cities, improving the water needs of half a billion people.
  • In addition, water pollution and contamination are prevalent, especially in informal settlements where residents have limited means of obtaining clean water.
  • Furthermore, climate change and rising water demand are putting additional pressure on already scarce water resources, compounding the existing water challenges in African cities.
  • In water management, Nedamco Africa is working to improve access to safe drinking water, reduce water waste, and promote water conservation.

Elizabeth Park Capital Management and Calvert Impact selected to co-manage Mission Driven Bank Fund

Retrieved on: 
Thursday, December 15, 2022
Professional Services, Philanthropy, Other Philanthropy, Socially Responsible Investing, Finance, Banking, Fund, Person, Community development financial institution, Federal Deposit Insurance Corporation, Minority, Small business, Investment, Community bank, Economic development, EPCM, Eton Park Capital Management, Community development, FDIC, ROI, Microsoft, Growth, History, Neighbourly (community investment platform), CDFI, Partnership, Impact investing, MDI, Bank, Management, Renewable energy, Truist Financial

Elizabeth Park Capital Management (Elizabeth Park) and Calvert Impact announced they are teaming up on an investment fund to invest in mission-driven U.S. banks.

Key Points: 
  • Elizabeth Park Capital Management (Elizabeth Park) and Calvert Impact announced they are teaming up on an investment fund to invest in mission-driven U.S. banks.
  • The Mission Driven Bank Fund (the Fund) will be established to support Minority Depository Institutions (MDI) and Community Development Financial Institution (CDFI) banks through direct investment, market development and other technical support services.
  • The Fund seeks to improve bank sustainability, promote an equitable economy, and address chronic racial gaps in access to financial services.
  • Elizabeth Park brings specialized knowledge of regulated financial institutions, while Calvert Impact has a track record of driving impact in underserved markets through creative solutions and bringing other investors along, Combs said.

Surround Insurance Raises $2.5M Seed Round to Help Consumers Navigate Life’s Transitions with “Insurance Built Around You”

Retrieved on: 
Monday, November 21, 2022
MassChallenge, Insurance, Life, Kate, Kate Terry, Investment, MassMutual, Financial technology, Impact investing, Health insurance, Financial adviser, NerdWallet, Surround sound

CAMBRIDGE, Mass., Nov. 21, 2022 (GLOBE NEWSWIRE) -- Surround Insurance today announced that it has closed a $2.5 million seed round led by MassMutual through the MM Catalyst Fund. New investor Aperture VC also participated in the round along with existing investors Newark Venture Partners and Cameron Ventures.

Key Points: 
  • Co-founded by insurance veterans Jay Grayson and Kate Terry , Surround addresses a $10 billion opportunity for consumers getting started with insurance.
  • The companys most popular product is the Drive-Rent bundle which includes portable auto insurance for non-car owners plus apartment insurance.
  • The Company distributes through independent agents, partners such as Nerdwallet, and directly to consumers through the Surround Insurance Agency.
  • We combine innovative new products with expert advice through independent agents, mobility platforms, embedded channels, and directly through the Surround Insurance Agency.