Setting targets for risks and returns to make our capital more catalytic

“At one time, the very idea of doing ESG—or double/triple bottom line-investing—could be considered catalytic,” says Rebekah Saul Butler, co-executive director and chief investment officer with The Grove Foundation. “Now, impact investing is becoming mainstream, enjoying increasing participation by governments, corporates, institutions, family offices, and individuals. In turn, the opportunity for catalytic capital is expanding, and the bar for what it takes to be catalytic—to bring about more and faster

She points to four key dimensions of catalytic capital: financial return targets, risk tolerance, timing and ecosystem. “Charitable institutions, in particular, are uniquely positioned to work creatively across these dimensions but doing so requires intentional policies and processes,” she writes in a blog for Impact Alpha. It is one of a series of Seeding Impact commentaries penned by seasoned impact investors participating in C3 Learning Labs.



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