In an airy converted furniture store in Seattle’s Pioneer Square neighborhood, five novice impact fund managers from Zimbabwe, Guatemala and the Netherlands are rehearsing the sales pitches they’ll make the next day to 60 mostly institutional investors, representing $10 billion in capital.
(Also see more recent Forbes article “This $100M Fund Is Betting on First Time Managers“)
The presentations will be a graduation ceremony of sorts. Despite their impressive résumés, the five men have just completed a four-week boot camp covering everything from term sheets, accounting and mezzanine debt structures to dealing with corruption to defining and marketing their brands. They’ll head home with golden contacts (investor cocktail hours were built into the packed schedule) and a commitment for up to $500,000 in seed capital from Capria Accelerator, a first-of-its-kind venture whose initial investors include Microsoft cofounder Bill Gates.
Read the full article in Forbes.