Impact secures additional USD1m in funding from The Rockefeller Foundation
Impact Shares, a non-profit exchange-traded fund (ETF) platform, has secured an additional USD1 million grant from The Rockefeller Foundation to expand its partnerships with non-profits and help translate their social values into investable products.
Awarded through the foundation’s Zero Gap innovative finance portfolio, the additional funding from one of the nation’s foremost philanthropic organisations highlights the tremendous potential for Impact Shares to further engage retail investors in the socially responsible investing movement. Impact Shares successfully launched the Impact Shares NAACP Minority Empowerment ETF (NACP), Impact Shares YWCA Women’s Empowerment ETF (WOMN) and the Impact Shares Sustainable Development Goals Global Equity ETF (SDGA) earlier this year in partnership with the NAACP, YWCA and UNCDF, respectively.
“The rise of impact investing, coupled with the growth in ETFs, opens the doors for organisations and charitable groups to generate more awareness about their causes, while creating an additional revenue stream that helps fuel their social missions,” says Ethan Powell, CEO of Impact Shares.
“We are pleased with the interest and response from our existing partners thus far, and we are actively engaged in generating awareness and growth for them while continuing to work with other leading nonprofits to help them become ambassadors of their movements in the private sector and beyond.”
Impact Shares, itself a 501(c)(3) charity, will donate the net advisory proceeds it receives from each fund it sponsors back to the collaborating partner nonprofit, creating meaningful engagement with corporate America and providing the investing public with more targeted and credible social-impact investing options.
“Through its Zero Gap innovative finance portfolio, The Rockefeller Foundation is proud to support Impact Shares in designing vehicles that help to mobilise private capital for social good—generating critical new streams of revenue for organisations committed to advancing the wellbeing of humanity,” says Saadia Madsbjerg, managing director at The Rockefeller Foundation.