Impact Capital Managers Announces 3rd Cohort of 2022 Mosaic Fellows, Growing the Impact of Signature Talent & Diversity Program
The Mosaic Fellowship places top-performing graduate students from traditionally underrepresented backgrounds as summer associates at ICM member funds, the leading private capital funds investing for superior returns and meaningful impact.
NEW YORK- April 19, 2022— Impact Capital Managers (ICM) is thrilled to share the nineteen winners of its annual Mosaic Fellowship, a highly competitive summer internship program, which places talented first-year graduate students at ICM funds to immerse themselves in the world of private capital impact investing. This is the third year of the Mosaic Fellowship—the flagship initiative of ICM’s commitment to talent and diversity. Since the program’s inception in 2020, 7 program alum have become full-time hires at ICM funds, 3 have started their own social enterprises, while others have gone on to take impact-focused roles within larger financial institutions.
The success of the Mosaic Fellowship to date relies on the extraordinary backgrounds and experiences that the Fellows bring to the ICM community and that are noticeably absent from private markets, an absence that has trickledown effects: According to Crunchbase data, only about 1.3% of U.S. venture capital money went to Black-founded businesses in 2021. This year’s Mosaic cohort brings students from around the globe – from Appalachia to Nicaragua – with extraordinary life experiences and passions. The 2022 cohort includes former Hill staffers, engineers, and entrepreneurs. Their talent and perseverance will add incredible value to the ICM network and the broader impact investing community.
“The Mosaic Fellowship is one of the most direct ways we can influence access and equity for talent in the impact investing space,” says Annie Olszewski, Program Director for ICM and programmatic lead for the Fellowship, “but beyond the direct placement of talent into impact funds – over one-third of ICM members have hosted a Fellow - every year we grow our alumni network. The community of Mosaic alums working across the impact and financial services space has led to and will lead to real change in the makeup of networks used to source talent going forward.”
“We are excited to see continued growth in both the quantity and caliber of the applicants for this year’s Mosaic program. Our process is uniquely competitive, high touch, and customized to make sure we increase the chances for long-term success – for both Fellows and for host funds. We congratulate the amazing ‘22 Fellows and look forward to helping them make the most of their summer experience,” said Marieke Spence, Executive Director of ICM.
The ICM Mosaic Fellowship is made possible in part through generous grant support from Ford, Heron, MacArthur, and Surdna Foundations, and the Rye Harbor Trust.
About the Mosaic Fellowship: Mosaic Fellows spend 10-weeks contributing to and learning from substantive workstreams at their host funds. Focus areas include industry and field research, to due diligence, deal structuring, financial modeling, impact management, and portfolio acceleration. ICM’s Mosaic Curriculum Committee convenes all Fellows for four courses over the summer focused on quantitative skills, the evolution of impact investing, impact management and measurement, and career path advice, with all content delivered by funds’ senior leadership. In addition, ICM pairs each Fellow with a mentor outside their host fund to accelerate connections across the network and facilitates a Fellows-only weekly meeting to share experiences and support. The summer programming will be kicked-off by an in-person two-day welcome event in New York City attended by the Fellows, ICM team, ICM members, and industry leaders.
About Impact Capital Managers: Impact Capital Managers is a not-for-profit 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 80+ funds collectively representing more than $21B in impact-focused capital. For more information, visit www.impactcapitalmanagers.com.
Contact: Annie Olszewski, Director, Programs, aolszewski@impactcapitalmanagers.com