IMPACTASSETS 50™
An Annual Showcase of Impact Investment Fund Managers
ImpactAssets 50
An Annual Showcase of Impact Investment Fund Managers
Core Innovation Capital
Affordable Housing
Financial and Economic Inclusion
Workforce Development, Upskilling and RetrainingFirm Overview
Now raising our fourth fund, Core Innovation Capital is an early stage venture capital firm that initially invests in fintech and fintech adjacent sectors at the seed and Series A stage. We back teams with the big, bold ideas that we want to see in the world, driving real change for real people through the power of capital. Core’s single focus is to drive exceptional financial returns by unlocking financial freedom for the mass market. Most Americans lack multiple products to achieve basic financial freedom, whether quality banking, decent insurance, a financial plan, all the way to wealth creation. We believe tackling financial freedom presents a massive commercial opportunity that allows Core to back platform plays across B2C, B2B2C, and B2B.
Years of Operation: 10 years or more
% of Capital from Top 3 Investors: 25% – 49%
Core’s single focus is to drive exceptional financial returns by unlocking financial freedom for the mass market.
We have a thesis-driven approach to financial freedom. We believe that: 1. Technology will democratize access to data and efficiency via innovations such as autonomous digital wallets, claims optimization, real-time payments enablement, and enhanced infrastructure via DeFi. 2. Demographic waves will redefine how money works, and will require improvements in key areas such as retirement and benefits management, tooling for micro-businesses, financial services for immigrants, and logistics for near-shore manufacturing. 3. Fintech will transform large household spend sectors through solutions such as health care financial optimization, career advancement and upskilling, home ownership / renter tooling, and embedded insurance.
We believe we differentiate ourselves through our thesis, our financial and impact performance, and our team: Thesis: Massive commercial opportunity to address pressing societal issues informed by secular tailwinds in technology, demographic pressures and an economic reset. Performance: Track record of transformative bets backed by successful financial returns and $247B+ of new net worth for everyday people. Team: Accomplished, resolute investment team with a unique combination of executive level operating experience, a diverse network, and a collaborative investment process over three prior funds.
Investment Example
Co-founded by George Kalogeropoulos, HealthSherpa is a digital platform that enables individuals to choose and enroll in healthcare plans quickly and easily. In doing so, the company streamlines healthcare access and helps to ensure improved health outcomes. It has been the largest ACA quoting and enrollment platform since 2013, with 45,000 agents, 4,800 agencies, 10m lives enrolled, and $71b in premiums. To learn more, please visit https://www.healthsherpa.com.
Leadership and Team
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Arjan Schütte – Founding Partner More Info
Philosophical at heart, Arjan grew up in the Netherlands and came to the US when he was 16 (Minnesota). He spent the first ten years of his career building software for a couple of EdTech startups (a dud, IPO and sale). He helped start CFSI (now the Financial Health Network), where he started investing in fintech off the side of his desk (with several exits and an IPO). Collectively, these experiences helped him to launch Core. |
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David Roos – Partner More Info
Silicon Valley through and through, David’s interests run the gamut. Public policy and macro economics led him to an early career as an interest rate trader on Wall Street. His passion for mission-driven startups was born from his operating roles at an early-stage fintech company in Nigeria and a volunteer management startup in New York. David holds a BS in Management Science & Engineering from Stanford and an MBA from Harvard. He's a fervent golfer, avid biker, and a devoted Bay Area sports fan. |
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Edwin Andrade – Partner More Info
Edwin is a numbers guy with a big heart. Mexican-American, born and raised in Burbank, he grew up watching family and neighbors rely on payday loans and check cashers and now spends his days in search of companies that can drastically improve the lives of low- and moderate income families. Prior to Core, Edwin was part of GCA Advisors' M&A and Private Capital practices, with a partial focus on fintech. Edwin graduated from Princeton University with honors. He is an avid real estate investor and die hard Lakers and Yankees fan. |
Financial Performance
Impact Performance
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Percentage of Total Assets Under
Management that are Impact Investments: |
100%
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As part of of our internal written documentation before we make any investment, we have to articulate an 'impact thesis' that we think is a foreseeable outcome based on the company's business model.
At the time of all substantial investments, we ask companies to commit in writing to prioritizing diversity in hiring and retention by A.strategically placing job listings so as to facilitate a diverse applicant pool, and B. implementing the ‘representative Rooney Rule’ .
Impact Tracking and Monitoring
Learn More
9255 Sunset Blvd Ste 1100, Suite 606, West Hollywood, CA 90069 USA
Apply for the IA 50 2022
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