ICM Celebrates the Five Year Anniversary of the Mosaic Fellowship Program with Largest Cohort to Date
NEW YORK - May 7, 2024 — Impact Capital Managers, the leading network of private capital fund managers investing for superior returns and meaningful impact, is proud to announce the fifth Mosaic Fellowship cohort of 25 graduate students. The Fellowship is a highly competitive summer program placing top-performing graduate students at ICM member funds, with the objective of advancing traditionally underrepresented talent. The 25 winners, selected from an applicant pool of over 350 applicants, represents the largest cohort to date.
In line with the Mosaic Fellowship’s commitment to uplift talent from all backgrounds, this year’s cohort includes 15 fellows who identify as women; additionally, over 70% of the group identifies as BIPOC (Black, indigenous, and/or people of color). The 2024 group also includes representation from first-generation college students and caregivers.
Over the course of ten weeks, fellows are equipped with the skills, knowledge, and network to launch their prospective careers in impact investing. After an intensive two-day orientation hosted by the Goldman Sachs Inclusive Growth Fund in New York City, fellows disperse to commence their summer associate roles at ICM funds around the country (and this year, in Canada). During the program students are also paired with a mentor from a different fund in the ICM network - yielding an additional perspective on the industry. Many fellows forge personally and professionally supportive relationships that long outlast the Fellowship.
“As we ring in the fifth year of the Mosaic Fellowship, it’s exciting to see the size and quality of the applicant pool grow year on year. At a time when initiatives promoting diversity face headwinds, ICM remains steadfast in its commitment to building a diverse, skilled pipeline of future talent in private capital impact investing,” said Marieke Spence, Executive Director of Impact Capital Managers. “This growth would not be possible without the support of our foundation partners and the engagement of the ICM community. From scoring applications to serving as mentors to individuals in the cohort, virtually every ICM member fund is involved in the success of the program. ”
“My participation in the Mosaic Fellowship has truly come full circle,” said Jessica Singh, former Mosaic Fellow and current Associate at Ecosystem Integrity Fund (EIF). “I was introduced to the wonderful team at EIF during my fellowship there in the summer of 2021. We’re honored to continue our support of the Mosaic Fellowship every year.”
Alongside Ecosystem Integrity Fund, ICM member funds SustainVC, HCAP Partners, Achieve Partners, Closed Loop Partners, Clean Energy Ventures, and Cleveland Avenue’s CAST US strategy have also hired alumni from the program. After graduating fellows have also gone on to take roles with leading capital allocators, such as Builders Vision and TruStage Wealth, as well as capital allocator networks such as CREO Syndicate, a non-profit network and advisory investing in climate and sustainability.
“ICM’s Mosaic Fellowship has been immensely beneficial to the team at Congruent Ventures,” said Josh Posamentier, Managing Partner and Co-Founder of Congruent Ventures. “Sourcing talent requires time and dedication, and as a member fund of ICM, the streamlined process of the Mosaic Fellowship helps us to continue creating space for new and rising talent.”
The Mosaic Fellowship is a program of the ICM Institute, a 501(c)(3) organization. It is made possible in part through generous grant support from the Ford Foundation, MacArthur, W.K. Kellogg and Surdna Foundations, as well as individual donations via Donor Advised Funds (DAFs). Institutions and individuals interested in supporting the program are encouraged to be in touch with the ICM team.
About the Mosaic Fellowship: Mosaic Fellows spend 10-weeks embedded at their host funds and engaging in substantive projects and workstreams. Focus areas include industry and field research, due diligence, deal structuring, financial modeling, impact management, and portfolio acceleration. ICM convenes all Fellows for an intensive in-person orientation at the start of the summer focused on quantitative skills, the evolution of impact investing, impact management and measurement, and career path advice, with content delivered by ICM staff, senior leadership at ICM member funds, and Mosaic alumni. Throughout the summer, Fellows meet regularly with mentors outside their host fund to accelerate connections across the network, and join a Fellows-only weekly meeting to share experiences, ideas, and support.
About Impact Capital Managers: Impact Capital Managers is a network of private capital fund managers investing for superior financial returns and meaningful impact, with a mission to accelerate the performance of its members and to scale the private capital impact investing market with integrity and authenticity. Membership is by invitation only. Today, the network includes 120+ funds collectively representing more than $50 billion in impact-focused capital. For more information, visit https://www.impactcapitalmanagers.com/.
Press Contact: Eliya Imtiaz, Analyst, eimtiaz@impactcapitalmanagers.com.