Statement from Impact Capital Managers on Racial Justice

June 3, 2020

We stand with the peaceful demonstrators across the US, exercising their constitutional right to protest the senseless deaths of so many Black Americans. As we reflect on the heartbreaking loss of George Floyd, Ahmaud Arbery, and Breonna Taylor - to name just three high profile cases among so many others – I want to extend my personal support to the ICM network of leaders, colleagues, and family members who may be struggling to determine a path forward. The anger and frustration we feel is deeper and broader than a reaction to our broken criminal justice system. It points to unacceptable disparities in both opportunities and outcomes for all communities of color in this country: educational, health, and economic disparities that the coronavirus pandemic has only worsened. The post-pandemic society we can and must build is resilient, innovative, and equitable. It assumes equal rights and draws on the talents and voices of everyone. Racism has no place in that society. 

Impact Capital Managers is committed to accelerating the performance of the impact funds who comprise our membership, and to building the impact investing field with integrity and authenticity. Increasing diversity, equity and inclusion in this industry has been central to our mission since ICM’s founding members first convened in 2017. We have placed a high priority on building a diverse Board and membership; incorporate conversations on diversity, race, and bias in our programs; and through our Mosaic Fellowship eight brilliant, traditionally underrepresented graduate students will begin summer associate roles at ICM member funds next week. This is a beginning.

We recognize that given the leverage we can exercise as a network of funds representing over $11B in impact-focused private capital, we have both an obligation and an opportunity to do more: on our teams, with our funds, with the companies we invest in, with the teams they employ, and with the customers and communities they serve. In the coming weeks we’ll be bringing our members together to develop new strategies to advance racial justice and economic prosperity for all in the United States.

We also recognize that addressing deep disparities will require self-examination and radical collaboration. In that spirit we are strengthening ICM’s Position, Goals, and Commitments on Talent and Diversity in Impact Investing - which has to date served as our internal roadmap – and over the next few days will make the full document available to the public. By being transparent in how our network is approaching diversity, equity, and inclusion, we hope to offer ideas that could prove useful to anyone assisting often under-supported members of diverse communities. We invite our peers in the impact investing ecosystem to learn and share alongside.

There are more actions we can each take. At ICM, we thank our members who are advancing racial justice through their investments. We encourage our members to amplify Black voices now and in the future. And we encourage everyone to proactively research the history of systemic racism that has compounded to produce injustices and to engage in constructive strategies for how we can truly stand in common cause with communities of color. For diverse thought-leaders and allies looking for further reading and resources, please be in touch, we are happy to share our list with you.

In solidarity,

Marieke Spence

Impact Capital Managers

mspence@impactcapitalmanagers.com