A case of general advancement today.
Social impact bonds — public-private partnerships that fund social services through a performance-based contract — have gained global traction since the first one was rolled out in 2010, the Social Finance Global Network reports in a new white paper.
So far, 60 social impact bonds have been introduced in 15 countries and have raised $216 million in investment, affecting some 90,000 lives, Social Finance reported.
The white paper examines the results of 22 bonds that have posted results, 21 of which had positive outcomes.
Twelve projects have made outcomes payments, and four bonds have repaid their investors in full with a return on their investment.
Catherine Cheney – Devex
Two moments stand out to philanthropist Jean Case when she considers the divide between the detractors and devotees of impact investing. A comment from venture capitalist Marc Andreessen at a conference where compared impact investing to a houseboat, which he said is neither a good house nor a good boat. And a Yale School of Management discussion, where a business school student likened impact investing to brunch, which he called than breakfast and better than lunch.
It is a myth that investors must sacrifice profits for purpose, said Case, the CEO of the Case Foundation and chair of the National Geographic Society, who talked with Devex at the Global Entrepreneurship Summit where she spoke about those two perspectives.
Here is what she had to say about what she sees as some of the most promising developments in entrepreneurship and impact investing, as well as the limits of data-driven decision-making.