6. Acknowledgements and About the Authors
World Economic Forum Project Team
- Michael Drexler Head of Investors Industries
- Abigail Noble Head of Impact Investing Initiatives
- Marina Leytes Project Manager
- Abigail Noble Head of Impact Investing Initiatives, World Economic Forum
- Marina Leytes Project Manager, World Economic Forum
- Ann Brady Head of Editing, World Economic Forum
- Fabienne Stassen Director, EditOr Proof
Reviewing Committee Members
The project team would like to offer special gratitude to members of the Reviewing Committee:
- Rosemary Addis Co-Founder, IMPACT Investing Australia
- Joel Bryce Manager, Monitor Deloitte
- Joanna Reynolds Associate Director, MaRS Centre for Impact Investing
- Betsy Zeidman Adjunct Fellow, Milken Institute
World Economic Forum
Special thanks to the Investors Industries team for support throughout the project: Karen Au Yeung, Katherine Bleich, Amy Chang, Erik Classon, Michael Drexler, Maha Eltobgy, Peter Gratzke, Alice Heathcote, Michael Karimian, Tik Keung, Henry McLoughlin, Marina Leytes, Irwin Mendelssohn, Eric Mercep, Abigail Noble, Megan O’Neill, Jason Rico and Dena Stivella.
With gratitude to our colleagues across the World Economic Forum: David Bustamante, Ruslan Gaynutdinov, Lucy Jay-Kennedy, Kamal Kimaoui, Floris Landi, Alem Tedeneke.
About the Authors
This publication synthesizes contributions from the following individuals whom the project team would like to thank for generously contributing their time, energy and insights:
Clara Barby, Partner and Head, IMPACT+, Bridges Ventures
Clara Barby leads Bridges Ventures’ IMPACT strategy throughout the investment cycle and IMPACT+, Bridges’ advisory efforts. She has focused her career on investing in innovative high-impact businesses – most recently on the management team of AyurVAID Hospitals, an India-based healthcare chain and Acumen Fund portfolio company. Previously, she worked for Acumen Fund’s Capital Markets team where she played a leading role in designing an innovative investment vehicle and later co-led the Acumen energy portfolio in India. Before Acumen, Barby worked in Bogota, promoting socially responsible investment.
Johannes Boch, Coordinator, Impact Investing Research Platform, the University of St Gallen in São Paulo
Besides developing research projects and coordinating the activities of IILA, Johannes Boch is working on research related to responsible leadership and its connections to impact investing. His field research activities focus on business models and impact assessments for healthcare services for the population at the bottom of the pyramid. He holds an MS in Psychology from the University of Fribourg, Switzerland, and is currently studying International Affairs at the University of St Gallen.
François Bonnici, Founding Director, Bertha Centre for Social Innovation and Entrepreneurship, University of Cape Town
Prior to joining the Bertha Centre, François Bonnici co-founded the African Social Entrepreneurs Network and is a Director of Powerfree Education and Technology, an award-winning non-profit, advocating and developing low-cost medical devices for child health in low-resource settings. Previously, as a Global Leadership Fellow of the World Economic Forum, he worked on public-private partnerships in health and development, and headed the Schwab Foundation’s work in Africa and the Middle East. He was originally trained as a medical doctor in South Africa and for a decade worked in paediatric medicine and humanitarian and development programmes.
Cathy Clark, Director, CASE Initiative on Impact Investing and Adjunct Professor at Duke University’s Fuqua School of Business
Cathy Clark co-leads the Social Entrepreneurship Accelerator at Duke, a global development lab that is part of USAID’s Higher Education Solutions Network. She is a leading authority in for-profit social entrepreneurship, impact investing and impact assessment.
Christine Driscoll Goulay, Associate Director, INSEAD Social Entrepreneurship Programme (ISEP)
Before joining INSEAD, Christine Driscoll Goulay was the Business Development Manager of the socially conscious apparel brand, Edun Live (part of Edun Apparel Ltd founded by Ali Hewson and Bono). There she managed all aspects of the brand, ranging from sourcing and supply chain management in Africa, to marketing and sales initiatives. She is also trained as a US lawyer and specialized in corporate law for the venture capital and private equity sectors for a number of years. She received her MBA from INSEAD, her JD from Boston College Law School and her BA from Harvard College.
Emilie Goodall, Director, IMPACT+, Bridges Ventures
Emilie Goodall has over ten years’ experience in impact investing, responsible investing and impact analysis. Prior to Bridges Ventures, at the UN-supported Principles for Responsible Investment (PRI), she led the cross-asset class team supporting PRI’s global network of investors to implement responsible investment practices. Previously, she managed debt and equity-like investments in non-profits at CAF Venturesome and led its impact strategy. Goodall also worked as analyst and consultant at New Philanthropy Capital, a consultancy and think tank engaged in non-profit analysis and the promotion of funder effectiveness.
Sérgio Lazzarini, Professor of Organization and Strategy, and Dean of the Graduate Degree Programmes, Insper Institute of Education and Research
Sérgio Lazzarini conducts research on strategic management with emphasis on how emerging market contexts affect business strategy, the organization of public-private interactions, and impact investing. He is the author of Capitalism of Ties (Campus Elsevier, 2011) on public-private interactions in Brazil, and the co-author of Reinventing State Capitalism: Leviathan in Business, Brazil and Beyond (Harvard University Press, 2014) on the evolution of state capitalism throughout the world. He also heads Insper Metricis, a research initiative helping entrepreneurs and investors measure social impact in innovative pay-for-performance contracts.
Gloria Nelund, Chairman and Chief Executive Officer, TriLinc Global
Prior to co-founding TriLinc Global LLC, Gloria Nelund served as Chief Executive Officer of Deutsche Bank’s $50 billion US Private Wealth Management Division. She has been a pioneer supporting the development of impact investments, such as Deutsche Bank’s microcredit programme and Scudder’s socially responsible investment products. Nelund is Chairman of the Board and Independent Trustee for RS Investments, a mutual fund complex with more than $20 billion under management. She sits on the board of multiple non-profit organizations.
Katherine St. Onge, Senior Officer, Calvert Foundation
Katherine St. Onge is a member of Calvert Foundation’s Investor Relations team. She is responsible for managing relationships with investors and financial advisers to increase their understanding of Calvert Foundation’s products and services. She previously worked in international and domestic economic development with the Aspen Institute and Louisiana Economic Development, respectively, and Goldman Sachs.
Aunnie Patton, Fellow, University of Cape Town and the University of Oxford
Aunnie Patton spends her time broadly across three areas: driving the Bertha Centre’s Innovative Financing Initiative, consulting on social investment strategies, and researching and lecturing in social finance and impact investment. She has worked in the mainstream and the impact finance sectors globally and has a BA in International Political Economy from DePauw University and an MBA from the University of Oxford’s Said Business School.
Jennifer Pryce, President and Chief Executive Officer, Calvert Foundation
Jennifer Pryce brings nearly 20 years of finance and community development work to her role as the President and Chief Executive Officer of Calvert Foundation. Under her leadership, the organization has developed innovative initiatives that combine a social issue with the power of impact investing, such as the Women Investing in Women Initiative (WIN-WIN), the only retail impact investing product available to US residents that is focused on supporting organizations empowering women. Prior to Calvert Foundation, Pryce worked with Nonprofit Finance Fund and held positions at several Wall Street firms. She serves on the Boards of Hitachi Foundation and Impact Assets.
Angélica Rotondaro, Managing Director, the University of St Gallen Hub Office Latin America
Co-founder of the Impact Investing Latin America (IILA) Knowledge Platform, Angélica Rotondaro has also been engaged in several grass-roots development projects, socio-economic impact assessments and inclusive business strategy reviews in Brazil, Chile, Peru and Switzerland. Prior to that, she worked in ventures in the area of alternative energy and developed a global brand for a business in waste management services. Her doctoral research was on the influence of the image elements in Fair Trade commercial relationships.
Ommeed Sathe, Vice-President, Impact Investments, Office of Corporate Social Responsibility, Prudential
In addition to managing Prudential’s Impact Investment programme, Ommeed Sathe serves as a board member for B-Lab, the Community Development Trust and the Military Park Partnership. Before joining Prudential in 2011, Sathe was director of real estate development for the New Orleans Redevelopment Authority. Previously, he was a real estate and land use attorney with Fried, Frank, Harris, Shriver & Jacobson in New York City.
Joan Trant, Director, Marketing and Impact, TriLinc Global
Prior to joining TriLinc Global LLC, Joan Trant launched and was Executive Director of the International Association of Microfinance Investors (IAMFI). IAMFI led the microfinance investment industry with proprietary research, contributions to publications, educational events and consensus-building for investor best practices. Prior to IAMFI, Trant was Deputy Executive Director of The Resource Foundation, supporting community-building programmes in 20 Latin American countries. She serves on the Finance Committee of the Christopher Reynolds Foundation.
Hans Wahl, Director, INSEAD Social Entrepreneurship Programme (ISEP)
Hans Wahl has more than 35 years of experience in education, management, and economic and political development in over 40 countries. He joined INSEAD in 2007 and his current work focuses on programme development, educational design and social impact assessment. Wahl is a founding director of the Governance and Justice Group, a multidisciplinary group that carries out research and advises on issues of access to justice, rule of law and human rights. He has launched several social ventures, including a sustainable tourism organization in Georgia, and has studied, written and consulted on issues of civil society development, human rights and capacity building worldwide.
Grace Webster, Co-Chair, CASE i3 2013-2014
Grace Webster is a 2014 MBA graduate from the Fuqua School of Business at Duke University where she was a member of the CASE i3 fellowship programme, serving as CASE i3 co-chair during her second year. Her research interests focus on developing and executing impact investing strategies for individual and institutional investors. Grace is currently a Private Banking Associate with Credit Suisse, based in Atlanta.