Press Release: ImpactAssets Clients Lean Into Impact Investing During COVID Pandemic
A $1.2 billion nonprofit impact investment firm, today released figures showing clients placed $170 million in impact investments and $82 million in grants in the first half of 2020. This reflects a total of $252 million of funding in private mission-driven businesses, impact funds and nonprofit organizations, up from $17.5 million invested and $20 million granted in the first six months of 2019.
A key driver of the tenfold increase in impact investing and four-times increase in granting was a robust response to the COVID pandemic by ImpactAssets clients who support opportunities that catalyze and fund critical response efforts across the U.S. and around the world.
Of the total $252 million placed, ImpactAssets donors invested and granted $213 million in the following three COVID-related critical needs areas:
- Stop the Spread: $160M supporting “front line heroes,” such as health care workers and essential workers, by investing in immediate and evolving frontline COVID-19 healthcare and PPE needs such as testing, treatments, vaccinations, PPE and health care delivery.
- Preserve the Progress: $24M dedicated to preserving the progress in climate and social justice by supporting high-impact environmental and social entrepreneurs whose demise in an economic downturn would result in significant regression against those causes.
- Business and Community Resilience: $29M focused on supporting people and small businesses who have been hit hardest by the health and economic crisis, particularly the unbanked, low-income communities and communities of color.
“Our clients have stepped up with a profound commitment to support critical solutions to the pandemic and provide essential financial support for vulnerable communities, small businesses and impact entrepreneurs,” said ImpactAssets CEO and Chief Investment Officer, Margret Trilli. “The crisis is far from over and the need for philanthropic investments is as great as ever. Impact investing and philanthropy have a critical role in overcoming the pandemic, reviving the economy and enabling a safe return to work and school.”
Timely investments made to meet critical needs exacerbated by the pandemic include:
Testing and Treatment
“We’re thrilled that our clients are leading the charge to fight the pandemic by putting their philanthropic capital to work to fund some of the most creative, cutting-edge responses to the COVID crisis—and beyond,” said Eric Meissner, Director, Custom Investments and Business Analytics.
ImpactAssets has expanded its COVID response significantly since the pandemic ignited in the U.S. In June, ImpactAssets and Stop the Spread combined forces to bring together impact investing and private and public sector resources to solve the immediate and evolving needs of this urgent public health crisis. Stop the Spread is the leading coalition of 1,300+ CEOs and executives, volunteers and subject-matter-experts working to catalyze actions and support governmental response to COVID-19.
ImpactAssets is the leading impact investing partner for individuals, families and philanthropists tackling the world’s greatest challenges by investing in the world’s brightest ideas. We make it easy for our clients to “discover, connect and invest” in game-changing entrepreneurs and funds. Founded in 2010, ImpactAssets increases flows of money to impact investing with our 100% impact investment platform and field-building initiatives, including the IA50 database of private debt and equity impact fund managers. The ImpactAssets Donor Advised Fund is an innovative vehicle that empowers donors to increase the impact of their giving by combining it with strategic sustainable and responsible investing to build a sophisticated philanthropic endowment. The Fund currently has more than $1.2 billion in assets in 1,400 donor advised funds, working with 350 wealth advisors across 60 financial services firms.
Photo courtesy of Hermes Rivera.