NEW
YORK, May 7, 2024 /PRNewswire/ -- Impact Capital
Managers, the leading network of private capital fund managers
investing for superior returns and meaningful impact, is proud to
announce the fifth Mosaic Fellowship cohort of 25 graduate
students. The Fellowship is a highly competitive summer program
placing top-performing graduate students at ICM member funds, with
the objective of advancing traditionally underrepresented talent.
The 25 winners, selected from an applicant pool of over 350
applicants, represents the largest cohort to date.
In line with the Mosaic Fellowship's commitment to uplift talent
from all backgrounds, this year's cohort includes 15 fellows who
identify as women; additionally, over 70% of the group identifies
as BIPOC (Black, indigenous, and/or people of color). The 2024
group also includes representation from first-generation college
students and caregivers.
Over the course of ten weeks, fellows are equipped with the
skills, knowledge, and network to launch their prospective careers
in impact investing. After an intensive two-day orientation hosted
by the Goldman Sachs Inclusive Growth Fund in New York City, fellows disperse to commence
their summer associate roles at ICM funds around the country (and
this year, in Canada). During the
program students are also paired with a mentor from a different
fund in the ICM network - yielding an additional perspective on the
industry. Many fellows forge personally and professionally
supportive relationships that long outlast the Fellowship.
"As we ring in the fifth year of the Mosaic Fellowship, it's
exciting to see the size and quality of the applicant pool grow
year on year. At a time when initiatives promoting diversity face
headwinds, ICM remains steadfast in its commitment to building a
diverse, skilled pipeline of future talent in private capital
impact investing," said Marieke
Spence, Executive Director of Impact Capital Managers.
"This growth would not be possible without the support of our
foundation partners and the engagement of the ICM community. From
scoring applications to serving as mentors to individuals in the
cohort, virtually every ICM member fund is involved in the success
of the program. "
"My participation in the Mosaic Fellowship has truly come full
circle," said Jessica Singh,
former Mosaic Fellow and current Associate at Ecosystem Integrity
Fund (EIF). "I was introduced to the wonderful team at EIF
during my fellowship there in the summer of 2021. We're honored to
continue our support of the Mosaic Fellowship every year."
Alongside Ecosystem Integrity Fund, ICM member
funds SustainVC, HCAP Partners, Achieve
Partners, Closed Loop Partners, Clean Energy Ventures,
and Cleveland Avenue's CAST US strategy have also hired alumni
from the program. After graduating fellows have also gone on to
take roles with leading capital allocators, such as Builders Vision
and TruStage Wealth, as well as capital allocator networks such as
CREO Syndicate, a non-profit network and advisory investing in
climate and sustainability.
"ICM's Mosaic Fellowship has been immensely beneficial to the
team at Congruent Ventures," said Josh
Posamentier, Managing Partner and Co-Founder
of Congruent Ventures. "Sourcing talent requires time and
dedication, and as a member fund of ICM, the streamlined process of
the Mosaic Fellowship helps us to continue creating space for new
and rising talent."
The Mosaic Fellowship is a program of the ICM Institute, a
501(c)(3) organization. It is made possible in part through
generous grant support from the Ford Foundation, MacArthur, W.K.
Kellogg and Surdna Foundations, as well as individual donations via
Donor Advised Funds (DAFs). Institutions and individuals interested
in supporting the program are encouraged to be in touch with the
ICM team.
About the Mosaic Fellowship: Mosaic Fellows spend
10-weeks embedded at their host funds and engaging in substantive
projects and workstreams. Focus areas include industry and field
research, due diligence, deal structuring, financial modeling,
impact management, and portfolio acceleration. ICM convenes all
Fellows for an intensive in-person orientation at the start of the
summer focused on quantitative skills, the evolution of impact
investing, impact management and measurement, and career path
advice, with content delivered by ICM staff, senior leadership at
ICM member funds, and Mosaic alumni. Throughout the summer, Fellows
meet regularly with mentors outside their host fund to accelerate
connections across the network, and join a Fellows-only weekly
meeting to share experiences, ideas, and support.
About Impact Capital Managers: Impact Capital Managers is
a network of private capital fund managers investing for superior
financial returns and meaningful impact, with a mission to
accelerate the performance of its members and to scale the private
capital impact investing market with integrity and authenticity.
Membership is by invitation only. Today, the network includes 120+
funds collectively representing more than $50 billion in impact-focused capital. For more
information, visit https://www.impactcapitalmanagers.com/.
Press Contact: Eliya Imtiaz,
Analyst, eimtiaz@impactcapitalmanagers.com.
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SOURCE Impact Capital Managers