Four years ago, my friend Michael Podolny started a nonprofit. His vision: transform the lives of African women through the power of business creation.
How? Give women meaningful work and a living wage so they wouldn't get funneled into what is often their only option to survive: sex work.
This January, Theodora Africa broke even.
It's an amazing accomplishment. With very little outside funding, Michael personally invested years of effort and over $100,000 to find a way to make his nonprofit self-sustaining. He succeeded.
Now, he wants it to grow. But to do that, he needs some capital. So he asked me if I knew of any Social Impact Investment funds that might work with a nonprofit.
Umm...one. (I suggested he talk to #NewProfit...though they may only be focused on needs in the US.)
In the $1.1 TRILLION global impact investing industry, growing at 18% CAGR, that's the only one I know of.
I'm sure there are more. There certainly aren't a lot. I'm hoping someone reading this can direct him to one or two more he can talk to. Or share it with your network.
Michael has proof of concept. He just wants to scale and give more African women a chance to thrive. Let's give him a hand.
Congratulations on the successful launch of the Pro Bono Work Project! It's inspiring to see SMBC's commitment to supporting non-profit organizations and providing opportunities for employees to contribute to the common good. Kudos to the entire SMBC team for making a positive impact on society.