An article in Bloomberg explores the rising tide of wealthy investors looking to support for-profit enterprises that also benefit society. They include AOL co-founder Steve Case and his wife, Jean, who have backed a handheld device to detect head trauma, which initially will benefit people in the military.
A JPMorgan survey found that impact investors spent about $46-billion and that fund managers hope to raise $4.5-billion in additional investments this year, up from $2.8-billion a year ago.
“A new generation of investors is emerging that wants more than just a financial return,” said Ms. Case. “Billions more will go into it.”
Added Judith Rodin, president of the Rockefeller Foundation, “There’s not enough capital in the world to solve the big problems with just philanthropy.”