Rise of the Rest should take pride in impact — not run from it | #VentureCanvas

Ben Thornley | ImpactAlpha


Inclusive Economics

Steve Case misses an opportunity to dispel the myth that impact investments can’t deliver financial outperformance

Steve Case talk to entrepreneurs in Detroit l Photo credit: Revolution

In case you missed it, Steve Case’s new Rise of the Rest fund, which strives to “construct an ecosystem like the one in Silicon Valley that will provide support and connections to entrepreneurs in small towns,” is not an impact investment.

In a New York Times article published Monday…

…Mr. Case was quick to say the new enterprise should not be considered an impact fund.…Mr. Case said he would only succeed in changing the way investors think about the rest of the country if he can produce significant financial success stories…“We’re fans of impact investing,” [Case] said, “but we actually didn’t position this as an impact fund. First and foremost, our goal was to generate top returns.”

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Source: Rise of the Rest should take pride in impact — not run from it