IMPACTASSETS 50™

An Annual Showcase of Impact Investment Fund Managers

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An Annual Showcase of Impact Investment Fund Managers

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ImpactAssets 50: A Global Landscape of Impact Investment Fund Managers
The ImpactAssets 50 (IA 50) is the first open-source, publicly published database of experienced private debt and equity impact investment fund managers.
https://www.impactassets.org/impactassets-50

ImpactAssets 50

An Annual Showcase of Impact Investment Fund Managers

IA 50 2024 PROFILE

RSF Social Finance

Total Assets Under Management: $100 – 499M
Asset Class: Cash / Cash Alternatives, Private Debt - Absolute Return / Notes
Primary UN Sustainable Development Goal: 13 – Climate Action
Clean Technology, Alternative Energy & Climate Change
Education
Racial equity and justice

Firm Overview

Category: Private Debt - Other

RSF Social Finance seeks to revolutionize how people relate to and work with money. We’re a financial services organization that has formed a growing community of motivated, values-driven investors, donors, and entrepreneurs. Together, we are committed to transforming an unjust and extractive economy to one that brings healing and regeneration. RSF envisions an economy rooted in equity, healing, and interconnectedness. Our mission is to catalyze transformation by circulating capital to social enterprises for a more just, regenerative, and compassionate world.

Firm Headquarters: US & Canada
Years of Operation: 10 years or more
Total Assets Under Management:
$100 – 499M
Total Number of Investors: More than 25
% of Capital from Top 3 Investors: Less than 25%
Investment Thesis:

We partner with impact minded investors and provide values aligned capital for mission-first organizations that make the world a more just, regenerative, healthy, and compassionate place. 

Investment Overview:

We provide senior secured debt to social enterprises in diverse sectors in which we have expertise, including climate, gender and racial equity, food and agriculture. We focus on supporting organizations and entrepreneurs of underserved communities that sometimes have limited access to affordable capital. We bring a highly relational, bespoke, consultative lending approach that mitigates risk while helping borrowers succeed. We do this through the coordinated use of different forms of financial capital and non-financial resources to support an enterprise that's working to solve complex social and environmental problems. RSF Integrated Capital comprises a blend of Loans, Loan Guarantees, Investments, Grants, and Non-Financial Support. By maintaining strong relationships with borrowers through economic uncertainty, leveraging technology to improve the borrower experience, and building new diverse strategic relationships and industry expertise, we are able to expand our portfolio and grow impact through various industries.  

Company Differentiator:

On the lending side, our focus on supporting organizations and entrepreneurs of underserved communities that often have limited access to the affordable and patient capital that we provide, differentiates us. RSF's highly relational, bespoke, consultative approach that both mitigates risk and helps borrowers succeed is another key differentiator. On the investor side, our relational, high-touch approach differentiates RSF from our peer group. Whether through community pricing gatherings that bring investors and borrowers together for transparent pricing discussions, or engaging our investors in deeper conversations about money and meaning in their lives, our individualized, human-centered approach, makes RSF entirely unique. 

Investment Example

We have provided two loans totaling $10M funding to Sunwealth, a BIPOC led, climate and community focused clean energy investment firm that invests in a better energy future by financing and managing solar projects that benefit diverse communities through clean power, carbon reduction, cost savings and job creation. Since 2014, Sunwealth has invested more than $70 million across 500 solar installations. Sunwealth views climate change and inequality as inextricably linked, and as a result pursues projects in diverse communities across the U.S. Since its founding, Sunwealth has grown by creating strong partnerships with local developers and channel partners to source a diverse pipeline of high performing solar projects. Sunweath’s rigorous underwriting and detailed financial modeling yields a strong portfolio with favorable returns to investors and communities. Projects that were supported by RSF financing include churches, schools and public housing.

Leadership and Team

Cumulative Leadership Experience in Impact Investing:
10 – 19 years
Cumulative Impact Experience of Top Three Firm Leaders:
30 years or more
Michael Jones – Vice President, Lending Business Development More Info

As RSF’s Vice President of Lending Business Development, Michael Jones manages RSF’s business development, oversees the relationship management team, and works with strategic lending partners. He is a graduate of Morehouse College in Atlanta and attended graduate school at NYU. Michael began his banking career in New York with Wells Fargo in a real estate structured finance group and later with the corporate banking group.

Jasper van Brakel – Chief Executive Officer More Info

As president and CEO of RSF Social Finance, Jasper van Brakel sees firsthand the energy that mission-aligned, catalytic capital sparks. He guides RSF in revolutionizing how people relate to and work with money, leading a talented team that develops innovative giving, investing, and lending programs to address the significant social, environmental, and economic challenges of our time. Prior to joining RSF in March 2018, van Brakel was a partner at Newpark Capital, a private equity firm for impact-driven companies.

Kathleen Paylor – Vice President, Investor Relations More Info

As Vice President of Investor Relations, Kathleen plays a pivotal role in enhancing the visibility of the Social Investment Fund and expanding the catalytic impact of the RSF community. Kathleen’s prior experience includes founding and leading the philanthropic advising firm Rise Philanthropy; growing philanthropic investments in FoodCorps; serving as chief strategy officer for COMMON, a creative accelerator and community for entrepreneurs building socially responsible brands and companies; building a major gift and impact investing program for Root Capital; and founding and leading Conscious Capital. Kathleen holds a BA from Mt Holyoak College and MS in Public Policy from Tufts University.

Percentage of Investment Professionals who identify as women:
50% or more
Percentage of Investment Professionals who identify as people of color:*
25% to less than 50%
Percentage of Senior Management Team who identify as women:
50% or more
Percentage of Senior Management Team who identify as people of color:*
25% to less than 50%
*People of color include: Black, Latinx, Asian, Native American/Alaskan Native, Pacific Islander, Middle Easterm and multi-racial Americans

Financial Performance

Target Financial Returns Relative to Benchmark:
Concessionary Rates
Actual Performance of Impact Products/Funds Relative to Target Financial Returns in the Past Three Years:
In line with initial target returns
Financial Reporting Frequency to Investors or Donors
Quarterly

Impact Performance

Percentage of Total Assets Under
Management that are Impact Investments:
100%
Primary Impact Outcomes:
Addressing climate change and environmental issues
Secondary Impact Outcomes:
Conserving land, oceans, ecosystems and natural resources
Creating jobs
Increasing access to education and improving educational outcomes
Increasing access to financial services
Promoting arts and media
Addressing racial inequities
Addressing gender inequities
Value-added Services Offered:
Access to markets
Business and legal training
Other: Funding and business advice

Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:

We consider and track MANY social/environmental practices of companies, included but not limited to: Who benefits from firm's work How employees benefit from firm's financial success Purchasing, procurement, and/or supply chain practices Social, ecological, and/or economic values that guide firm's decision-making How power is distributed or shared How firm defines equity and how is it incorporated both internally and externally into work How firm measures your impact If firm serves BIPOC individuals and if so, number. If firm serves low-income individuals and if so, number. Salary ratio (as a percentage of highest to lowest salary) Number of BIPOC people on board, staff, and leadership team Number of people from low-income communities on board, staff, and leadership team Number of women, transgender, or non-binary people people on board, staff, and leadership team  

Investments systematically include social and environmental sustainability practices in the due diligence process:

We consider and track MANY social/environmental practices included but not limited to: Who benefits from firm's work How employees benefit from firm's financial success Purchasing, procurement, and/or supply chain practices Social, ecological, and/or economic values that guide firm's decision-making How power is distributed or shared How firm defines equity and how is it incorporated both internally and externally into work How firm measures your impact If firm serves BIPOC individuals and if so, number. If firm serves low-income individuals and if so, number. Salary ratio (as a percentage of highest to lowest salary) Number of BIPOC people on board, staff, and leadership team Number of people from low-income communities on board, staff, and leadership team Number of women, transgender, or non-binary people people on board, staff, and leadership team.

Impact Tracking and Monitoring

Impact is Tracked:
Yes
Impact Verified by an Independent Third-Party:
No
Social and/or Environmental Impact is Reported to Investors and Donors:
Yes – to the public
Third Party Validations:
Member of Impact Capital Managers
Impact Frontiers Cohort Participant
Implement recommendations from Task Force on Climate Related-Financial Disclosure
Net Zero Assets Managers Initiative
Utilizes standardized impact metrics (e.g. IRIS+, GIIRS, etc.)
Participant on steering committees or leadership roles within impact industry associations
Publisher or contributor to industry white paper or other research in impact investing
None

Learn More

Key Contact Name: Kathleen Paylor
Phone: 415-527-9579
Mailing Address:

300 Montgomery St. Suite 750, San Francisco, CA 94104 USA

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