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Why Rise of the Rest should own impact, Propel Capital’s civic tech fund, cleantech investing 2.0, cities’ wooden future
Dec. 6, 2017
Calgary, Canada l Photo credit: Priscilla Du Preez
Greetings, ImpactAlpha readers!
#Featured: Impact Voices
Yes, Steve Case, there is impact alpha. As more money folks embrace impact investing, it seems some impact folks are running away. The latest case in point, so to speak, is Steve Case, who took pains to make clear to The New York Times that his new Rise of the Rest Fund (currently at $150 million and counting) is not an impact fund. That despite investor and fellow tech titan Eric Schmidt’s hopes that the effort “creates more jobs, more wealth, better products, and helps society deal with a lot of jarring employment changes,” and another investor, fashion designer Tory Burch’s interest “as an investor and as a citizen who cares about the future of our country.” Case himself emphasized, “We actually didn’t position this as an impact fund. First and foremost, our goal was to generate top returns.