Responses

Michael Dorsey
Impact Investor and Co-Founder of the Bay Area Equity Fund
 

Venture capitalists and other private investors can influence the direction and practices of private companies, including for social impact. difficult to achieve than one might think.

Mike McCreless
Senior Director of Strategy and Impact at Root Capital
 

To achieve a portfolio in which 100 percent of investments create social value would require an investor to forgo investing in any business that has other options.

Nancy E. Pfund
Founder and Managing Partner of DBL Partners
 
Lisa A. Hagerman
Director of Programs at DBL Partners
 

There does not need to be a sacrifice between achieving top-tier financial returns and positive social and environmental impacts.

Brian Trelstad
Partner of Bridges Ventures
 
Clara Barby
Bridges Ventures Partner focused on Impact+
 

We agree with the authors’ that it is “special knowledge” that can allow an investor to deliver market rate returns and measurable social or environmental impact.

Charles Ewald
Founding CEO of New Island Capital and current Lecturer at the Stanford Graduate School of Business
 

Just as investments sit on spectra of risk, return, and liquidity; so too do they sit on a spectrum of impact.

Heidi Patel
Partner at Rethink Impact
 

Social and environmentally aware investing—when done well—does not lead to concessionary returns and in fact it does quite the opposite.

Fran Seegull
Executive Director of the U.S. Impact Investing Alliance
 

In a world where the majority of market capitalization is driven by intangibles, managing ESG risk and reward is just good business.

Julie Sunderland
Managing Director of Biomatics Capital
 

People working within the best companies in the world are more often than not motivated by solving problems and making the world a better place.

Ben Thornley
Managing Partner at Tideline
 

Impact investors operate within complex ecosystems, which is why the more nuanced concept of impact management is gathering steam.

Matt Bannick
Managing Partner of Omidyar Network
 

It is also possible for an impact investor to have considerable impact by supporting firms that pioneer the emergence of an entirely new sector.

Paul Brest
Former President of the Hewlett Foundation and Professor Emeritus (active) at the Stanford Law School
 
Ronald Gilson
Professor at Columbia Law School
 
Mark Wolfson
Founder and Managing Partner of Jasper Ridge Partners and President of Jasper Ridge Charitable Fund
 

Last Word: Paul Brest, Ronald Gilson, and Mark Wolfson respond to the 11 people who commented on their article.

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