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MacArthur Foundation Commits $150 Million in Catalytic Capital to Address Social Challenges

>> Back to April 2019

The Rockefeller Foundation and Omidyar Network Join New Catalytic Capital Consortium, Call for More Flexible Impact Investments and More Collaboration

The John D. and Catherine T. MacArthur Foundation recently launched the Catalytic Capital Consortium, dedicating $150 million to help address financing gaps in impact investing, particularly for funds and intermediaries that are not a fit for conventional investment. MacArthur is joined in this effort by leading impact investors, The Rockefeller Foundation and Omidyar Network, who will add their expertise and financial resources to the Catalytic Capital Consortium. MacArthur’s first investment is $30 million to expand and accelerate The Rockefeller Foundation’s Zero Gap innovative finance portfolio, matched by $30 million from The Rockefeller Foundation.

Catalytic capital is investment capital that is patient, risk-tolerant, concessionary, and flexible in ways that differ from conventional investment. According to Catalytic Capital: Unlocking More Investment and Impact, a report released today by the consulting firm Tideline, catalytic capital is an essential component to achieving the United Nations’ Sustainable Development Goals (SDGs). As the SDGs face an annual $5 trillion to $7 trillion financing gap, catalytic capital can help meet the demand for more capital across the risk-return spectrum, complement and pave the way for conventional investment, and mobilize additional capital through a range of blended finance solutions. The Catalytic Capital Consortium will increase awareness, understanding, and use of catalytic capital as an investment tool, ultimately helping more enterprises secure the financial support they need to grow and scale social and environmental solutions that could improve millions of lives.

“Catalytic capital is needed for impact investing to realize its full potential,” said MacArthur President Julia Stasch, who announced the Consortium at the Global Impact Investing Network Investors’ Council Annual Meeting, alongside the leaders of The Rockefeller Foundation and Omidyar Network. “While impact investing is growing rapidly, much of the attention focuses on market-rate returns, leaving a serious gap in financing opportunities for many promising impact enterprises and funds that could help address critical social challenges. The Catalytic Capital Consortium will help more investors appreciate the importance of this type of capital in yielding deeper, more sustainable impact for people and the planet.”

Since it was launched in 2015, The Rockefeller Foundation’s Zero Gap grant portfolio has grown to nearly 50 unique financial structures across 28 countries. MacArthur’s matching investment in Zero Gap builds on this work, marking a unique impact investing collaboration between two foundations, where each will invest $30 million with the aim of catalyzing at least $1 billion in new capital to help meet the SDGs. These funds will be managed by The Rockefeller Foundation’s new impact investment management platform, Rockefeller Foundation Impact Investment Management, which aims to tap into mainstream markets and investors, scaling up investments into promising new finance vehicles that help to close the SDG funding gap.

“The math is simple: The cost of solving the world’s most critical problems runs into the trillions of dollars. Currently, more than $200 trillion in private capital is invested in global financial markets. Together, we must find innovative and catalytic solutions to mobilize private capital to close this widening gap between those with hope and prosperity, and those without,” said Dr. Rajiv Shah, president of The Rockefeller Foundation. “Closing this financing gap is our urgent task, and we’re deeply humbled to manage this significant investment by The MacArthur Foundation toward that essential end.”

The balance of MacArthur’s $150-million catalytic capital allocation will provide matching investments to a select cohort of funds and other intermediaries that demonstrate a powerful use of catalytic capital with the potential for significant impact addressing the SDGs. To date, MacArthur has invited proposals from impact investment efforts across emerging and developed markets to apply for its matching capital commitments. These funds and other intermediaries address a wide range of issues aligned with the SDGs, such as forest conservation, sustainable agriculture, inclusive entrepreneurship, education, reproductive health, energy access, and refugee finance. MacArthur will announce additional specific investments later this year.

Additionally, MacArthur, The Rockefeller Foundation, and Omidyar Network will dedicate $10 million over three years to grants that fuel learning and market development, helping illuminate when and how catalytic capital can be most effective and what additional tools and practices are needed for impact investors.

“The pressing challenges we face today, particularly rising inequality, require us to reimagine capitalism and shift how we think about the role of capital in our economy and society,” said Mike Kubzansky, managing partner at Omidyar Network. “Investors need a greater understanding of the range of capital across the returns continuum. This initiative has the potential to help investors better target catalytic capital to where it can have the greatest impact—ultimately helping to pioneer new innovations, drive sector-level change, and unlock larger sums of investment to build more equitable economies.”

Prior to this collaboration, MacArthur, The Rockefeller Foundation and Omidyar Network have collectively deployed more than $900 million in catalytic capital as part of their broader impact investing. Building on this experience, the Catalytic Capital Consortium will demonstrate the power of catalytic capital and spark inquiry, exploration, and learning in the growing impact investing community.

To learn more about catalytic capital and the Catalytic Capital Consortium, please visit – www.macfound.org/catalyticcapital to access an explainer video, case studies, and more.

About the Macarthur Foundation
The John D. and Catherine T. MacArthur Foundation supports creative people, effective institutions, and influential networks building a more just, verdant, and peaceful world. MacArthur is placing a few big bets that truly significant progress is possible on some of the world’s most pressing social challenges, including over-incarceration, global climate change, nuclear risk, and corruption in Nigeria. In addition to the MacArthur Fellows Program, the Foundation continues its historic commitments to the role of journalism in a responsible and responsive democracy, as well as the strength and vitality of our headquarters city, Chicago. More information is at – https://www.macfound.org

About the Rockefeller Foundation
The Rockefeller Foundation advances new frontiers of science, data, policy and innovation to solve global challenges related to health, food, power and economic mobility. As a science-driven philanthropy focused on building collaborative relationships with partners and grantees, the Foundation seeks to inspire and foster large-scale human impact that promotes the well-being of humanity throughout the world by identifying and accelerating breakthrough solutions, ideas and conversations. For more information, visit – https://www.rockefellerfoundation.org

About Omidyar Network
Omidyar Network is a philanthropic investment firm that invests in and helps scale innovative organizations to catalyze economic and social change. Established in 2004 by eBay founder Pierre Omidyar and his wife Pam, the organization has committed more than $1.3 billion to for-profit companies and nonprofit organizations across multiple initiatives, including: Digital Identity, Education, Emerging Tech, Financial Inclusion, Governance & Citizen Engagement, and Property Rights.To learn more, visit – http://www.omidyar.com and follow on Twitter @omidyarnetwork #PositiveReturns.

Additional Articles, ESG (Environmental, Social, Governance), Impact Investing, Sustainable Business

Acacia Carr - Author of Uncommon Creative - GreenMoney - April 2019

Rewarding Careers for Women in Tech

By Acacia Carr, Identity Designer, Web Developer & Author

April 1, 2019
1 Comment on Rewarding Careers for Women in Tech

>> Back to April 2019

The future is fast upon us as the stuff of science fiction becomes our daily lives. Technology has evolved at a speed none could have predicted. Smart phones, tablets, autonomous vehicles, drones, Bitcoin, bots, Alexa…the rise of Big Tech, and the advent of AI. There is virtually no part of daily life on Earth that has not yet been hit by the sonic waves of the tech boom. How we live, connect, learn, transact, identify, express, sustain, and find our way has all changed in the blink of an eye.

Out of all these many changes, I find one in particular most striking. In the wake of the tech evolution, many women are for the first time in history truly empowered to live lives of their own making via the connected world created by tech.

A Girl and Her Computer

I’m a self-taught, self-employed web developer and designer. I do not come from a traditional tech background. My parents were hippies and did not graduate from college. And, I’m a woman. Although 56 percent of the professional workforce in the US is now women, only 25 percent of professional IT jobs are held by women, and only five percent of tech startups have female founders.[1]

I’ve always loved computers from the first time I used an Apple Lisa in elementary school. I loved to play games, solve puzzles, and create art. I learned how to code for a Summer job in 1998 — before Google’s official launch later that year — and I’ve been coding ever since.

I have a daughter, Allison. She’s 12 now. And like me, she’s enamored with all things tech. Also like me, most of what she knows about tech has been self-taught using programs like Minecraft to develop basic program logic skills. She loves to game and draw on her iPad, just as I did on the Lisa Apple in the 1980’s, but on a whole other level.

I was very fortunate to be able to spend my daughter’s early years with her while I ran my web business from a home office. I often wore my daughter in a baby sling while I hammered away at the keyboard, learning to code, work with clients, run a business and be a mom…all at the same time.

“Vision”, Artwork by Acacia Carr from Uncommon Creative: The Handbook for Unicorns

I was able to acquire all of the skills I needed to become a professional practicing web developer online. I achieved this through a combination of hanging out in developer forums, taking a few online classes from community colleges in areas like project management, and using online simulators. So much of my self-learning started by opening up a browser and just playing with the Code Inspector.

I started my career doing pro bono work for non-profits and quickly moved onto paid work with brands in every industry from Silicon Valley to London.

Employment Trends

The rise of AI, cryptocurrency, brand marketing, data science, and — especially — cybersecurity makes tech one of the most in demand fields of today with an anticipated 12 percent increase in available tech jobs by 2024 compared to 6.5 projected job growth for other industries.[2]

According to a recent survey on Glassdoor — one of the world’s largest recruiting services — 19 of the top 50 highest ranked jobs for 2019 were in the technology field, more than any other field. Jobs were ranked on factors such as pay and desirability.[3]

There’s no denying it: highly skilled tech and marketing workers are needed in every field. And with the advent of online learning platforms and the support of the Open Source Community, the education required to build these skills can now be acquired for a fraction of the cost and time it takes to get a traditional college education, opening the doors to anyone who is interested in pursuing a rewarding career in tech.

While it’s true that there are certain circles in which a degree is required, I have personally never found my own lack of a college degree to be a hindrance in any way. In my field, what matters most is being able to do the work.

Whereas earlier generations of women rarely, if ever, had employment beyond family and housework, on a global scale we are finally starting to see that change. The advancement of women’s rights and interests everywhere through the technology we now hold in our hands is the key to our brightest future. Whether that means access to health information, educational resources, financial options or social connections, all of these elements empower women — and all people — to live their best lives.

Never before in history have we held so much power to learn, earn and connect than we hold in our hands right now. So why are there so few women pursuing careers in tech compared to their higher involvement in the general workforce?

Who Paints the Digital Landscape?

“Cosmic Mirror” – Artwork by Acacia Carr from Uncommon Creative: The Handbook for Unicorns

The digital landscape itself is a direct reflection of the values of the people who create it. If culture is everything we have, think and do, the thought processes and behaviors of those who build the systems that have created our digital landscape are inherently built into the culture of our technology. Founders values are company values which become societal values.

In 2018, only 30.9 percent of the general employee population at Google were women, and only 24.5 percent tech hires were women. The average tech worker at Google is a white or Asian male, mid-30s, and from a middle to upper class background.[4] These numbers are representative of a trend in the general digital workforce.

This is in stark contrast to the early part of the 20th century to when the majority of programming and related early tech jobs were held by women and in fact considered “women’s work”.[5]

It’s a sad irony that in the world today, women are 40 percent less likely than men to have even used the Internet.[6]

Many factors have played a role in the decrease of women in tech jobs over the years, including the meteoric rise of figures like Steve Jobs, Bill Gates, and Mark Zuckerberg, but I believe we are seeing a renaissance as women form communities online and become a more active part of the conversation again.

To be a part of the dialogue, women must make their voices heard in the industry and the greater Web community. This means attending industry and community events, writing for industry publications, blogging, podcasting, and hosting workshops. It also means practicing ethical work habits and cultivating professional development. It means supporting and recognizing other women who are making contributions in the industry. It means championing the rights and voices of other minorities as well.

And it all starts with a girl and her computer.

Article by Acacia Carr, a self-taught web developer, brand designer, and creative director. Her first book, Uncommon Creative: The Handbook for Unicorns, is a self-help guide for solopreneur Unicorns (web developers who also design). Acacia is passionate about creating a Web in which everyone has a voice.

In her spare time, Acacia is a dancer, artist, gardener, and animal lover. A native New Mexican, she spent 12 years in the Bay and Sacramento areas before returning home to the Southwest in 2016. Acacia has worked with the GreenMoney Journal since 2017.

Learn more about Uncommon Creative: The Handbook for Unicorns

Also on Apple Books – http://itunes.apple.com/us/book/id1444962722

Article Notes:

[1] Infographic – https://www.womenwhotech.com/womenintechinfographic
[2] https://www.modis.com/en-us/resources/employers/top-jobs-2019
[3] Glassdoor reveals the best jobs in America for 2019 https://www.glassdoor.com/about-us/bestjobs2019
[4] Google Diversity Annual Report 2018 https://static.googleusercontent.com/media/diversity.google/en//static/pdf/Google_Diversity_annual_report_2018.pdf
[5] https://en.m.wikipedia.org/wiki/Women_in_computing
[6] https://www.linkedin.com/pulse/americas-most-automatable-jobs-melinda-gates-giving-top-rundown-us-

Additional Articles, ESG (Environmental, Social, Governance), Millennials & Finance, Sustainable Business, Women & Finance

Next Economy Now (LIFT Economy)

September 12, 2018

Next Economy Now from LIFT Economy features Bren Smith, GreenWave Executive Director and owner of Thimble Island Ocean Farm– a pioneer in the development of restorative 3D ocean farming. Bren’s ocean farming model is designed to restore ecosystems, mitigate climate change, and create blue-green jobs for fishermen – while ensuring healthy, local food for communities.

Corporate Social Responsibility (CSR), ESG (Environmental, Social, Governance), Green Business, GreenMoney Interviews, Leadership, Quality of Life, Social Impact, SRI Investing (Socially Responsible Investing)

Cliff Feigenbaum on The Prosperity Show

September 12, 2018

Joan Sotkin host of The Prosperity Show talked with Cliff Feigenbaum of the GreenMoney Journal on a recent Podcast. Cliff has been involved with sustainable and responsible investing for over 20 years — longer than most people.