Money And Meaning

Despite bring the fastest-growing population of American entrepreneurs, founders of color are systematically under-recognized and under-resourced in America today. How can we begin to build new systems that will support entrepreneurs of color? What will it take to build an inclusive impact economy? This past June, SOCAP convened the first-ever SPECTRUM event in Atlanta to discuss these challenges and begin building an action plan to solve them. In this episode, we offer a selection of inspirational and insightful moments recorded live at SPECTRUM.  Featured voices include Marc Bamuthi Joseph of the Kennedy Center for the Performing Arts, Jessica Stago of Change Labs, Frederick Hutson of Pigeonly, Jay Bailey of the Russell Center for Innovation and Entrepreneurship, and Nadia Brigham of Brigham Consulting.

Foundations traditionally have grant-making staff and endowment investing staff that operate entirely independent of each other. How can we move past this traditional “two-pocket thinking” to utilize the full spectrum of capital - not just grants and market-rate investments - to better align a foundation’s entire portfolio with their desired impact outcomes? In this episode, Dr. Stephanie Gripne of the Impact Finance Center and Teresa Ish of the Walton Family Foundation discuss the work they are doing in this space and why creating sustainable fisheries requires innovative financing structures.

The new Opportunity Zone legislation is expected to drive billions of dollars of investment into low-income communities around the country. Yet, with limited oversight, this capital has as much potential to harm communities as is does to benefit them. In an effort to set a precedent for transparency in this new space, the Kresge Foundation has recently committed $22 million to two Opportunity Funds in exchange for higher levels of reporting and accountability. In this episode, Rip Rapson, President, and CEO of the Kresge Foundation, and Kresge Social Investment Officer Aaron Seybert discuss the innovative way the foundation is working to shape OZ investment.

Cooperatives hold incredible promise to build wealth in marginalized communities and reduce the racial wealth gap but myths and misconceptions about alternative ownership models are common. Many lenders and investors are skeptical of cooperatively-owned businesses or find them too “risky” to qualify for investment. This episode, recorded live at a SOCAP 365 event in Baltimore, is a panel discussion about the promise of the cooperative model to create social and economic change, including frank observations about the challenges that often prevent these businesses from securing investment or achieving success at scale.

How can innovative financial technologies help marginalized and underserved communities manage their personal finances and build wealth over time? In this episode of Money and Meaning, host Alex Kravitz talks to Marcia Chong Rosado of Village Capital, an accelerator for social enterprises, and Ramona Ortega, Founder of My Money My Future, a platform providing personal financial guidance for millennials of color who have been overlooked by traditional financial institutions.

On prior episodes of Money + Meaning, we have explored ways innovative ideas generated by unlikely allies can create change across institutions and communities. But what about the systemic level? Could conversations between people of different perspectives and backgrounds lead to more equitable economies or systems of government? In this episode, host Lindsay Smalling has a conversation that addresses these questions with unlikely allies who are working on civic engagement and democratic initiatives from two very different institutions: The Massachusetts Institute of Technology (MIT) and The Bill & Melinda Gates Foundation.

Mitch Kapor is fond of saying, “genius is evenly distributed by ZIP Code, but opportunity is not.” So, in 2011 Mitch and his wife, Freada Kapor Klein, set out to tackle this issue by investing in seed stage tech startups closing gaps of access, opportunity, or outcome for low-income communities and communities of color in the US. After more than 100 investments over eight years, Kapor Capital has not only been able to generate gap-closing social impact but has done so while achieving financial returns in the top quartile among VC funds of similar size. In this episode, Mitch shares lessons learned from his journey into impact investing and tries to dispel harmful biases still embedded in the VC community.

MPOWERD is an innovative solar light manufacturer recently named one as one of the Real Leaders 100 most impactful companies in the world. Their mission is to sustainably provide clean, safe, and affordable solar lighting to everyone, including the people in developing countries who need it most, and their innovative design has made their products a favorite of humanitarian aid organizations around the world. In this episode of Money + Meaning, host Alex Kravitz interviews Seungah Jeong and John Salzinger about their own journeys to impact and the inspiring ways MPOWERD products are helping people around the globe. They also share their insights into the challenges and joys of running a social enterprise, give examples of how they are measuring and reporting their impact, and offer some valuable advice for emerging social entrepreneurs.

This week's episode is a conversation with impact investing pioneer Dave Kirkpatrick of SJF Ventures and Impact Capital Managers. Dave was at the forefront of the impact investing industry when he co-founded SJF Ventures back in 1999. Originally the Sustainable Jobs Fund, SJF has grown from a $17 million first fund to the recent $125 million close of fund four. In this conversation, host Alex Kravitz asks Dave about his longevity in the industry, how his investment philosophy has evolved over the lifecycle of his four funds, and how the industry has changed over his 20 years as an investor.

Two-thirds of the workforce in the United States lacks a college degree. With many companies and job platforms screening cadidates based on education, a significant number of smart, hard-working people are locked out of the job market. Seeing firsthand the impact this has on workers and their families, Yscaira Jimenez founded LaborX, a talent marketplace that connects skilled workers with employers and training programs. TechSF is a government agency that was started to provide access to technology and tech training for San Franciscans and to develop a local pipeline that could meet the demand for tech talent in the area. Through TechSF’s partnership with LaborX, San Francisco employers can use the platform to gain access to a diverse pipeline of vetted workers.  In this episode of Money + Meaning, Lindsay Smalling interviews Jimenez and Orrian Willis of TechSF about the insights they can offer into this challenge and the details of their innovative partnership, as well as the impacts they are seeing the prog

On this week’s episode of Money + Meaning, recorded live at the SOCAP 365 PNW event in Seattle, you’ll hear Sayer Jones, Director of Mission Related Investing for Meyer Memorial Trust, Lisa Yancey, Co-Founder of The We's Match, and Stephen Green, Founder of PitchBlack, in a candid and realistic conversation about what it will take to close the racial wealth gap. Each panelist shares their own experiences working to increase financing and support for entrepreneurs of color, as well as stories of the barriers they have encountered along the way.

What happens when the people who live and work in a community are able to pool capital then collectively decide how to use those funds for the betterment of everyone in their community? The Boston Ujima Project is answering that question by blending grassroots organizing with finance to build an equitable, community-based local economy. In this episode, Lindsay Smalling sits down with Aaron Tanaka and Lucas Turner-Owens of The Boston Ujima Project about how their project evolved, how they are using the power of cross-sector collaboration to solve challenges and build wealth at the local level, and the impact they are seeing in the communities they serve.

Host Alex Kravitz talks to Olivia Rebanal from Capital Impact Partners, Jean Chorazyczewski of The Fair Food Network, and Amit Makhecha of FEAST Detroit. These guests share the stark facts about this challenge, detail the steps they are taking to cultivate a more inclusive and equitable local food system, and offer suggestions for what it will take to solve this challenge in communities across America.

As user data collection has evolved from web data to mobile to ubiquitous environmental sensing, important questions are being raised about data usage, consumer privacy, and corporate transparency. Today, we discuss who owns the vast amounts of personal data that are being collected today? Is privacy becoming something that only the rich can afford? Has user behavior created an economic incentive for companies to care about data and privacy breaches? How are governments attempting to regulate “big data"?

For generations, people from all backgrounds have come to the US in pursuit of the American Dream: opportunity, access, resources and ultimately ownership. Yet many minorities are systematically excluded from drivers of wealth, such as home ownership and entrepreneurship. This panel explores systemic issues that have led to this inequity, why catalyzing wealth creation for communities of color should be a national imperative, and how we can invest in historically marginalized communities.

The textile and apparel industry is among the world's most extractive and environmentally damaging industries, accounting for 10% of global CO2 emissions and 20% of industrial wastewater. This episode of Money + Meaning, a live recording from SOCAP18, explores circular fashion innovations that are working to turn the industry from extractive to regenerative. For additional resources about circular fashion, visit our blog post on socialcapitalmarkets.net.

Season 2 of Money + Meaning kicks off with a special episode featuring luminaries from the SOCAP18 main stage including Anand Giridharadas, Joy Anderson, Joan Carling, Mitch Kapor, and Amit Bhatia. Themes include gender lens investing, the racial wealth gap, indigenous rights, distinguishing real change from fake change, and how complex power structures underlie all these important discussions.

Unlikely Allies: Capital Impact Partners & Mission: Launch are working to address the link between mass incarceration and deep poverty by creating pathways to build financial health for returning citizens.

Live panel from “Investing to End Poverty" -- featuring speakers from Federal Reserve Bank of Philadelphia, PIDC, Wash Cycle Laundry, GreenLight Fund, Esperanza US, and Triskeles Foundation.

Excerpts from SOCAP15, SOCAP16, and SOCAP17 mainstage speakers, in celebration of the SOCAP18 happening in San Francisco this week. Tune in to live stream on our website!