Mission Driven Finance selected as an ImpactAssets 50 2020 Emerging Impact Manager

Mission Driven Finance selected as an ImpactAssets 50 2020 Emerging Impact Manager

by | Feb 25, 2020 | News

ImpactAssets Releases Ninth Annual IA 50 Impact Investment Fund Manager Showcase with New Emerging Impact Category

 

(SAN DIEGO)—February 25, 2020—Mission Driven Finance has been named as an Emerging Impact Manager in ImpactAssets‘ IA50 2020, a publicly available, online database for impact investors, family offices, financial advisors and institutional investors that features a diversified listing of private capital fund managers that deliver social and environmental impact as well as financial returns.

The new IA 50 Emerging Impact Manager category spotlights newer fund managers that demonstrate potential to create meaningful impact. The inaugural list includes 16 emerging fund managers across a variety of themes and geographies and brings awareness of innovative trailblazers breaking new ground in impact investing.

“With record applicants and assets under management, the IA 50 continues to reflect the rapid growth and interest in impact investing,” said Jed Emerson, ImpactAssets Senior Fellow, and IA 50 Review Committee Chair. “This year’s showcase includes eleven impact funds with more than $1 billion in assets under management. And to ensure we’re capturing the best future ideas, we’ve added emerging impact managers, who have the hunger, creativity, and a willingness to explore alternatives that more seasoned fund managers may not.”

“We are honored to be selected for inclusion in the new Emerging category, especially among such distinguished firms,” said Mission Driven Finance CEO David Lynn. “We are especially glad to join our friends in this space that are really pushing the boundaries of what it means to manage impact funds. We appreciate ImpactAssets and recognize the power of donor advised funds to blend with private and institutional capital to make real change happen at a community level.”

Emerging Impact Managers

The newly introduced IA 50 Emerging Impact Managers category represents fund managers in the early stage of their life cycle, and are often taking unique approaches to impact investing. Emerging Impact Managers may have less than $25 million in Assets Under Management and/or been operating for fewer than three years.

Emerging Impact Manager firms were selected according to a set of criteria developed to ensure a diverse set of firms with commitment to impact and representing a range of approaches, asset classes, and impact areas. Particular consideration was given to firms that demonstrate a unique strategy, under-represented impact theme, and diversity in leadership in view of the application pool.

  • The emerging impact managers have an average AUM of $24.8 million. Of this year’s emerging impact managers, 75% were launched in the last three years.
  • A quarter (25%) of managers list clean technology, alternative energy and climate change as their investment theme, while 19% are focused on small and medium business development, and 13% list racial equity as their investment theme
  • A total of 69% of emerging impact managers report that 50% or more of their investment professionals are women and/or from under-represented groups and 75% report that 50% or more of their board members are women or from under-represented groups.

“As the impact investing field evolves, we can’t lose sight of innovation,” said IA 50 Review Committee Member Julia W. Sze, CFA, of Julia W. Sze Consulting. “The emerging managers we selected have developed strategies in new sectors and geographies, are often led by women and people of color, and add new depth to the impact investment universe.”

“The IA 50 is a proven and trusted way for investors to start exploring a subset of managers that are already working in this area and determining what interesting impact investments an investor can make today,” said Sandra Osborne-Kartt, CFA, Director of Investments at ImpactAssets. “We are excited by growing investor appetite as well as the diverse array of impact themes and strategies represented by this year’s list.”

In addition to Emerson, Sze, and Osborne-Kartt the IA 50 Review Committee comprises an expanded group of 14 impact investment experts and leaders, including Lauren Booker Allen, Vice President, Jordan Park Group Impact Advisory; Mark Berryman, Managing Director of Impact Investing, The CAPROCK Group; Ronald A. Homer, Chief Strategist, Impact Investing, RBC Global Asset Management (US) Inc.; Karl “Charly” Kleissner, Ph.D., Co-Founder of Toniic and KL Felicitas Foundation; Kathy Leonard, Senior Vice President, Investments and Senior Portfolio Manager, UBS; Malaika Maphalala, CPWA® Private Wealth Advisor, Natural Investments, LLC; Cynthia Muller, Director of Mission Investment, W.K. Kellogg Foundation; Stephanie Cohn Rupp, Managing Director and Partner, Tiedemann Wealth Management; Fran Seegull, Executive Director, U.S. Impact Investing Alliance, Ford Foundation; Liesel Pritzker Simmons and Ian Simmons, Co-Founders of Blue Haven Initiative; and Margret Trilli, President and CIO, ImpactAssets.

Osborne-Kartt and Jennifer Kenning—CEO and Co-Founder of Align Impact and IA 50 Senior Investment Advisor—led the ImpactAssets and Align Impact Investment teams in the application scoring and analysis process.

About Mission Driven Finance

Mission Driven Finance is an impact investment firm and Certified B Corporation empowering community through new models of investing in social change. Launched in 2016, all of our funds and structured products are designed to close financial gaps that in turn will close opportunity gaps. Learn more about our community-connected capital approach and discover how easy it is to invest in your community.

About the ImpactAssets 50

The IA 50 is the first publicly available database that provides a gateway into the world of impact investing for investors and their financial advisors, offering an easy way to identify experienced impact investment firms and explore the landscape of potential investment options.  The IA 50 is intended to illustrate the breadth of impact investment fund managers operating today, though it is not a comprehensive list.  Firms have been selected to demonstrate a wide range of impact investing activities across geographies, sectors and asset classes.

The IA 50 is not an index or investable platform and does not constitute an offering or recommend specific products. It is not a replacement for due diligence. In order to be considered for the IA 50 2020, fund managers needed to have at least $25 million in assets under management, more than 3 years of experience as a firm with impact investing, documented social and/or environmental impact and be available for US investment. Additional details on the selection process are here.

The IA 50 Emerging Impact Manager list is intended to spotlight newer fund managers that may demonstrate future potential to create meaningful impact. Criteria such as minimum track record or minimum assets under management may not be applicable.

About ImpactAssets

ImpactAssets is a nonprofit financial services firm that increases the flow of capital into investments delivering financial, social and environmental returns. ImpactAssets’ $1.1 billion Donor Advised Fund and field-building initiatives enable philanthropists, other asset owners, and their wealth advisors to advance social or environmental change through impact investment and philanthropy.

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Support Local Black-owned businesses in San Diego and watch our communities thrive

Support Local Black-owned businesses in San Diego and watch our communities thrive

by | Feb 20, 2020 | News

The best way to celebrate Black History Month this year? Shop at local Black-owned small businesses. Economic power is the fundamental building block of healthy and thriving communities. With it, communities flourish—with improved health outcomes, educational opportunities, and the accumulation of wealth to support health and happiness for many generations to come. 

Unfortunately, a recent Brookings report found that highly-rated businesses in predominantly Black neighborhoods perform worse than poorly rated businesses in non-Black neighborhoods, and experience annual revenue losses as high as $3.9 billion simply because of their ZIP code.

Want to help build a better future? You can, by voting with your dollars in your community. Read on to discover how you can foster inclusive economic opportunity by supporting incredible local Black-owned businesses right here in San Diego.

Cafe X: By Any Beans Necessary

From left: Khea Pollard, CEO & co-owner of Cafe X: By Any Beans Necessary; Dawud Hassan, Organizer for the annual Hip Hop 5K; Cynthia Ajani, VP & COO/co-owner of Cafe X: By Any Beans Necessary
From left: Khea Pollard, CEO & co-owner of Cafe X: By Any Beans Necessary; Dawud Hassan, Organizer for the annual Hip Hop 5K; Cynthia Ajani, VP & COO/co-owner of Cafe X: By Any Beans Necessary
Photo courtesy of Cafe X: By Any Beans Necessary

Located in the College area, Cafe X is a 100% Black-owned, worker-owned coffee shop and co-op committed to promoting healing, knowledge, and communal wealth-building for communities of color. Inspired by Malcolm X and philosophers like Jean-Paul Sartre, founder Khea Pollard envisioned a business devoted to social change; she aims to provide a welcoming space to organize and equalize knowledge in the community. Cafe X offers more than just creative teas, baked goods and lattes (like this incredible iced s’more latte)—they also host community events and offer catering services. 

WorldBeat Cultural Center

Founded in 1984 by Makeda Dread Cheatom, WorldBeat Cultural Center is a multicultural arts nonprofit dedicated to promoting, presenting, and preserving African and Indigenous cultures of the world through music, art, dance, multimedia arts, education, and STEAM research. By raising consciousness, the WorldBeat Center promotes peace within the community and creates unity within diversity. Visit them in Balboa Park to attend a wide variety of affordable classes, including family drumming, West African dance, and fitness classes.

Coop’s West Texas BBQ

Before opening Coop’s in Lemon Grove, owner Brad Cooper worked as a registered nurse at Kaiser Permanente for eleven years, selling BBQ plates at hair salons and barbershops on weekends. Now Coop’s West Texas BBQ has been named one of the top BBQ spots in the nation. Coop’s demonstrates their commitment to inclusivity by hiring staff through Breaking Barriers San Diego, which places individuals with disabilities or receiving substance abuse treatment in jobs. Just try not to drool over the creamy candied yams and juicy smoked brisket.

SIP Wine & Beer

SIP wine and beer owner Cassandra Shaeg
SIP wine and beer owner Cassandra Shaeg
Photo courtesy of Angela Ledyard Photography

This Escondido wine & beer bar was inspired by the evolving agricultural and wine industry in owner Cassandra Shaeg’s hometown of Temecula. Cassandra sought to make wine and beer simple and fun while supporting women and minorities in the industry by creating a destination to empower, inspire, and exchange knowledge. Join the SIP Society Wine Club to expand your wine knowledge each month, and tune into SIP’s WineVersations YouTube channel to watch thought-provoking discussions surrounding community and culture with leaders in politics, entrepreneurship, and social justice.

Roots Up Yoga Flow

Roots Up Yoga Flow makes yoga affordable and accessible to everyone by offering mobile yoga services to San Diego, Lemon Grove, and Spring Valley. Owner Debra Brooks seeks to provide those who are unable to travel far from home or feel self-conscious or excluded in traditional yoga studios with the mental and physical benefits of regular yoga practice. Contact Debra to book a private lesson. 

Mt. Hope Community Garden Farm Stand (formerly the People’s Produce Night Market)

After the People’s Produce Night Market was at risk of shutting down, Project New Village purchased the land between Euclid Ave. and the I-15 freeway to convert the neighborhood from a food desert to a “good food district.” The Mt. Hope Community Garden Farm Stand provides a venue for economic opportunities for neighborhood growers and entrepreneurs and also offers free health screenings and education about nutrition. Mt. Hope is truly able to make healthy food choices available to all by being the only farmers market in southeastern San Diego that accepts EBT cards. Stock up on fresh squash, apricots, and more every Tuesday from 5:00 to 7:00 p.m.

Project Reo Collective

Project Rio Collective
Project Reo Collective
Photo courtesy of Project Reo Collective

Project Reo Collective is the result of five families coming together to invest in their Paradise Hills community by creating a safe space for neighbors to connect with each other over local art and coffee. Visit Project Reo for an open mic or live jazz night, or treat yourself before work with a caffeine fix, such as this heavenly white chocolate mocha.

BaKuumba Botik Co-op

BaKuumba Botik Co-op is a collective of retail and community space, focused on creating change in the Encanto neighborhood by providing a space for Black entrepreneurs to own their own business. Founder Dajahn A. Blevins describes the space as a “Co-op of visionaries, artists, educators, entrepreneurs, and resources for increasing quality of life through the power of creativity.” Shop for fashion, art, and African goods, then attend one of their community health workshops. 

Annual Kuumba Fest at San Diego Repertory Theatre [The Lyceum Theatres]

The African Market Place & Community Reception, Friday, February 28, 6:00 p.m. 

Admission: Free

Taste of Soul, Saturday, February 29, 5:00 p.m.

Admission: $7

Each year in the last week of February, San Diego Urban Warriors Inc. and the African American Advisory Council of the San Diego Repertory Theatre celebrates San Diego’s diverse and creative Black culture with the three-day Kuumba Festival. On Friday, visit the African Market Place & Community Reception, where you’ll find cultural vendors, fashion, art, jewelry, light foods, and live jazz. On Saturday, pop into Taste of Soul, a friendly competition in the spirit of Ujamaa (Cooperative Economics) of San Diego’s top chefs, cooks, and restaurants promoting the best Black-owned and operated eateries.

Find more local Black-owned businesses on the Buy Black San Diego’s directory.