|
|
|
Greetings!
Starting next month, this newsletter will be jointly issued by the PRI Makers Network and the More for Mission Campaign Resource Center. This will be an important step toward becoming a fully integrated organization. From this point on, we will be working in partnership with the Initiative for Responsible Investment at Harvard University to deliver information, programs, and tools for foundations engaged in any point along the full spectrum of mission investments, including PRIs and MRIs. This is an exciting change for the PRI Makers Network. As we move forward, we welcome your questions, comments and suggestions on how we can best serve this dynamic philanthropic field.
Peter Berliner
Managing Director |
 In the News |
Capital Fund Launched with $25 Million to Invest in East Africa Agriculture Businesses
The Bill & Melinda Gates Foundation and The Rockefeller Foundation, along with Britain's The Gatsby Charitable Foundation and J.P. Morgan's Social Finance unit, joined forces with the U.S. Agency for International Development to invest $25 million in the new African Agricultural Capital Fund. Pearl Capital Partners, a Uganda-based African agricultural investment fund manager, will invest the money in at least 20 agriculture-related businesses in East Africa and build the skills of local management teams rather than importing expertise from abroad.
The California Endowment Commits $10 Million to DBL Equity FundThe California Endowment will invest in DBL Investors' second fund -- DBL Equity Fund, emphasizing its long-term commitment to mission investing towards its goal of 2% of total assets to mission-related investments (MRIs). DBL Investors is a pioneer in double bottom line venture capital investing.
Focused on bringing people and communities together to create and sustain jobs, the Initiative will provide capital grants to select Community Development Financial Institutions (CDFIs) which will then provide loans to underserved community businesses including small businesses, microenterprises, nonprofits, commercial real estate and affordable housing. The Initiative is seeded with a $5 million contribution from the Starbucks Foundation. |
|
Upcoming Network Events |
New! Tools for Investors Webinar Series
As part of our ongoing efforts to provide practical information and opportunities to learn from peers, we are pleased to offer a new webinar series for new and experienced mission investors. If you missed the first session of the series, All About IRIS, you can access the recording here. Keep an eye on this page for new sessions to be added this fall.
Finding a Fund:
Investment Fund Search Tools for PRI & MRI Investors
Wednesday, November 16
Ready to invest but not sure where to start? Join this second session of our Tools for Investors webinar series to learn from Luther Ragin and Adam Gromis of GIIN and David Wood of More for Mission about the role of funds in the impact investing marketplace and available resources, such as GIIN's ImpactBase, for finding one that is right for you.
2012 PRI Makers Network National Conference
May 8 - 10, 2012
Seattle Waterfront Marriott Hotel
Plan to join us in Seattle for our 2012 National Conference. Watch for early-bird registration to begin soon.
|
|
New at the Network | |
Welcome New Members!
Forty-three organizations have joined the Network in 2011. Please join us in welcoming our most recent new members:
Blue Sky Foundation of New Albany, IN funds locally and internationally, and is particularly interested in projects that involve technology and innovation.
Community Foundation of Central Florida, in Orlando, manages and invests donor funds, connects people with charitable causes they feel passionate about and empowers donors to make informed decisions through research and evaluation.
Empire Health Foundation of Spokane, WA invests in ideas and organizations that improve access, education, research and public policy to transform the seven counties in eastern Washington into a measurably healthier region.
Fidelity Charitable Gift Fund of Boston, MA has a national donor-advised fund program that has helped donors support over 140,000 nonprofits with more than $11 billion in grants.
Carl and Eloise Pohlad Family Foundation of Minneapolis, MN focuses on improving the quality of life in the Minneapolis-St. Paul region by supporting organizations and leading initiatives that address important issues and needs. |
|
Article of Interest | |
Mission-Related Investing: A Cautionary Tale
Lessons learned and takeaways from a case with George Kaiser Family Foundation and Solyndra LLC, a solar energy equipment manufacturer, are shared by David Jacobs of the Foundation Center in this article for those considering MRIs.
1. Don't skimp on due diligence.
2. Know when to cut your losses.
3. Avoid any appearance of impropriety. |
|
Resource | |
More for Mission Report: Meeting with Foundation Trustees Addresses Four Mission Investing Barriers 
At a June meeting at the Harvard Kennedy School, a group of foundation trustees met to discuss their role in facilitating mission investing and address barriers they face in implementing mission investing strategies. The meeting focused on four core issues:
* Fiduciary duty
* Internal and external capacity constraints
* Developing a mission-related investment strategy
* Managing consultants, advisors, and other service providers |
|
| Events of Interest |
 |
Investors' Circle Fall Venture Fair
October 26 - 28 
Philadelphia, PA
This annual gathering of investors and investment professionals working to direct the flow of investment capital in more positive, healthy, and transformative ways offers opportunities to meet and learn from passionate, creative people from all corners of the sustainable and responsible investment (SRI) industry in the U.S. and around the world. More for Mission and PRI Makers Network members receive $50 off with a special code: F11VF50. |
|
|
2011 Opportunity Finance Network Conference 
November 14 - 17
Minneapolis, MN
Entitled Impact. It's What We Do, this conference is the place to be for networking, learning and thinking about the future of the CDFI industry. A PRIs 201 session for foundations only featuring Tracy Kartye of The Annie E. Casey Foundation will be held at 2:15 p.m. on the 15th. |
|
|
|
|
|
