LEVERAGING THE FULL SPECTRUM OF PHILANTHROPIC CAPITAL TOWARDS IMPACT | 1Leveraging the fullspectrum of philanthropic capital towards impactCase studies from Asia Pacific and the US每日免费阅读行业报告1、每日星球内分享10+精品报告；2、不定时分享国际投行报告，脱水研报等；3、行业报告均为公开内容，版权归原作者所有，星球仅分享内部学习。扫描右侧二维码即刻加入【行业报告（免费） 】星球（此页只为更多需要行业报告的朋友提供便利，希望不会影响您的阅读，谢谢理解！）2 | LEVERAGING THE FULL SPECTRUM OF PHILANTHROPIC CAPITAL TOWARDS IMPACTPublished by AVPN in June 2018. Copyright @ AVPN & Amala Paradigm 2018. This work is licensed under the Attribution-NonCommercial-ShareAlike 4.0 International License:Leveraging the full spectrum of philanthropic capital towards impact - Case studies from Asia Pacific and the USAttribution — You must give appropriate credit, provide a link to the license, and indicate if changes were made.ShareAlike — If you remix, transform, or build upon the material, you must distribute your contri-butions under the same license as the original.NonCommercial — You may not use the material for commercial purposes.AuthorsAsia Pacific• Martina Mettgenberg-Lemiere, PhD, AVPN• Nguyen Le Phuong Anh, AVPN• Olivia Yutong Wang, AVPNThe United States • Ash Sharma, Amala Paradigm• Grace M. Kataoka, Amala Paradigm We are also grateful to the following staff members at The Sasakawa Peace Foundation for their support and comments: • Mari Kogiso, Director, Gender Investment and Innovation Department• Natasha Shih, Social Investment Analyst, Gender Investment and Innovation Department• Karthik Varada, Project Coordinator, Gender Investment and Innovation DepartmentLEVERAGING THE FULL SPECTRUM OF PHILANTHROPIC CAPITAL TOWARDS IMPACT | 3About the ReportFoundations are well-positioned to take the lead as market catalysts and ecosystem builders. This report documents the extraordinary journeys taken by three leading foundations in the US and five in Asia Pacific to scale their impact by leveraging the full spectrum of financial and non-financial resources.4 | LEVERAGING THE FULL SPECTRUM OF PHILANTHROPIC CAPITAL TOWARDS IMPACTImpact investment and mission-aligned investments are still at a nascent stage among foundations in Asia but is gaining traction, thanks to efforts made by pioneers in the region. For decades, endowed foundations have been operating with the traditional philanthropy financing model whereby they deploy grants on the programme side and conduct traditional investment activities on the endowment management side. Despite its long history, this model is subject to several risks. While grant-making is paramount to achieving a foundation’s vision, sometimes it hampers recipients’ incentive to seek for sustainability. On the endowment management side, without careful scrutiny, foundations bear the risk of having their assets be invested in such firms whose activities go against a foundation’s mission. It is time for foundations to think deeper on how they can leverage the full spectrum of financial capital towards impact.In recent years, several foundations across the globe have started to carve out a portion of their endowment for impact investments. For example, the Ford Foundation announced that it would deploy USD1 billion for impact investments over the next ten years, and the Kresge Foundation has set aside USD350 million for such investments. Drawing inspiration from such role models and by identifying the need to embrace new models of philanthropy, we at The Sasakawa Peace Foundation are taking steps to embark upon the journey of impact investing by carving out around USD100 million of our endowment and set up ‘Asia Women Impact Fund’ to make investments that empower women and improve gender equality in Asia. Learning from peers is one of the effective ways to start the journey. Earlier this year, we commissioned AVPN and Amala Paradigm to conduct eight case studies in Asia and the US to learn about the various pathways of how foundations started with impact investing, and the lessons they have drawn throughout the way. We hope that this report will inform, encourage and engage like-minded peers in the region so we can together push the frontiers of impact investing to its next level.Shuichi OhnoPresidentThe Sasakawa Peace FoundationFOrewOrd“It is time for foundations to think deeper on how they can leverage the full spectrum of financial capital towards impact.”LEVERAGING THE FULL SPECTRUM OF PHILANTHROPIC CAPITAL TOWARDS IMPACT | 5Since 2011, AVPN has been committed to building a vibrant and high impact social investment ecosystem across Asia from philanthropic foundations to impact funds, corporations and governments. Making up about 23% of AVPN membership as of 2017, foundations are uniquely positioned to leverage their philanthropic capital to foster market-based solutions to social and environmental challenges. The rise of impact investment and mission-aligned investment has opened a window of opportunity for foundations to optimise their entire portfolio, including endowments in certain cases, towards 100% impact.This report on...
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