Leading national and global foundations announce their support for
Canada's first Centre for Impact Investing
TORONTO, Sept. 29, 2011 /CNW/ - MaRS Discovery District announced today
that substantial funding support from the Rockefeller Foundation and
the J.W. McConnell Family Foundation will be made available for the
Centre for Impact Investing, to be housed at MaRS.
The Centre for Impact Investing will build upon the foundational work of
MaRS and Social Innovation Generation (SiG), including the landmark
report, Mobilizing Private Capital for Public Good, by the Canadian Task Force on Social Finance. The Centre will be a
national hub that will increase awareness for and effectiveness of
social finance to catalyze new capital, talent, and initiatives
dedicated to tackling social and environmental problems in Canada. The
Centre will act as a point of global connection for Canadian efforts
into the emerging field of impact investing, delivering programs and
initiatives focused on research and policy, market and product
development, and education and engagement initiatives to build the
collective ability to mobilize private capital towards public good.
The great promise of the Centre is to help move Canada's current nascent
impact investing ecosystem from pockets of uncoordinated innovation
through a process of marketplace-building, resulting in a robust
With this contribution, both Rockefeller and McConnell have issued a
call to action for Canadian investors to support the Centre and engage
with this emerging market.
The Centre is expected to open for operation in early Winter 2011.
"MaRS is proud to receive funding from The Rockefeller Foundation and
the J.W. McConnell Family Foundation and to continue our role as a
convener and collaboration hub. The Centre for Impact Investing will
compound and centralize the already significant but widespread momentum
for the development of impact investing in Canada. This is a terrific
example of convergence innovation - linking a growing array of social
entrepreneurs with investors seeking both a financial and
Ilse Treurnicht, CEO of MaRS Discovery District and Chair of the
Canadian Task Force on Social Finance
"The Rockefeller Foundation is committed to the growth and development
of an impact investing sector that benefits the world's poorest and
most vulnerable. We are very pleased to support a national hub that
will increase the impact of social finance for the benefit of these
populations in Canada and hopefully create replicable innovations that
can be expanded to other countries."
Judith Rodin, President, Rockefeller Foundation
"The McConnell Family Foundation is committed to supporting those
engaged in social purpose work, not only through our grant making, but
through the investigation and practice of impact investing. We are so
pleased to be supporting the Centre and we encourage others to join us
in this work."
Stephen Huddart, President and CEO, J.W. McConnell Family Foundation
Report by J.P. Morgan and the Rockefeller Foundation estimates that
impact investing assets will grow to between $400 billion and $1
trillion; investment opportunities that have demonstrable social and/or
environmental impact alongside financial return, from affordable
housing to renewable energy.
A recent study of 250 social ventures in Ontario reported total capital
demand of $170 million over the next two years.
The total Canadian impact investing market is $2B today; it is expected
to grow to $30B in ten years.
MaRS Discovery District is a large scale, mission driven innovation
centre located in Toronto and networked across Ontario, focused on
building Canada's next generation of technology companies. MaRS works
closely with entrepreneurs to grow and scale their ventures into global
market leaders in life sciences and health care, information,
communications and entertainment technologies, cleantech, advanced
materials and engineering, as well as innovative social purpose
SOURCE MaRS Discovery District
For further information:
MaRS Discovery District
Social Innovation Generation (SiG)