Criteria

Impact-First Investing

Criteria

The core of A to Z’s work is investing 100% of our endowment into impact-first investments, where we will gladly accept reduced financial returns for meaningful impact.

We look for founders and fund managers, both nonprofit and for-profit, with similarly impact-aligned practices, from their employees, culture, and mission to their products and services. If we are not aligned on the impact front, we move on…life’s too short!

We prefer catalytic opportunities, helping young organizations to ignite their ideas, and diverse, proximate management teams.

We aim to maximize impact while investing where the probability of preserving capital with a low-modest return is high. Sustainability will allow us to stay in the game and maximize long-term impact. We target a blended portfolio return that can pay the bills (and not more!), while on a deal-by-deal basis our return expectations include everything from 1% debt to double digit equity returns (at least optimistically!).

Investment Criteria
International
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Geographies

Sub-Saharan Africa, India, and Haiti.

Impact Themes

Livelihoods and quality healthcare, with a bias for gender-smart initiatives and proximate founders.

Primary SDGs

1 – No Poverty
3 – Good Health
8 – Decent Work.

Organization Type

Preference toward direct investing in social enterprises or innovative NGOs. Will also consider impact-aligned funds.

Capital Type

Agnostic. We seek to do what is best for the organization and are unafraid of complexity. If that means equity, we invest in equity. If debt, we can take debt. If alternative financing ideas that are outside of the traditional securities are best, we will happily oblige.

Ticket Sizes

$200K-1M.

United States
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Geographies

Across the US.

Impact Themes

Gender and racial equity.

Primary SDGs

5 – Gender Equality
8 – Decent Work
10 – Reduced Inequalities.

Organization Type

Strong preference for indirect investing via diverse emerging fund managers. Open to venture, PE, real estate, debt, and everything in between. Will consider direct loans to nonprofits.

Capital Type

Agnostic.

Ticket Sizes

$500K-1M.