For its second impact fund, Salesforce is doubling the size of its pockets to support start-up companies working to solve problems in education, workforce training and climate science, and to create economic opportunities for minority and underrepresented populations.
Today, the publicly traded technology company announced a new $100 million Impact Fund within its Salesforce Ventures investment arm. The fund comes from Salesforce’s operating capital—in other words, it did not raise this money from outside investors.
“In the midst of concurrent crises—a global pandemic, economic fallout, and systemic racism and injustice—there’s never been a more important time to seek and support solutions that create new opportunities,” said Claudine Emeott, senior director of impacting investing at Salesforce, in an interview.
The investment strategy does have specific parameters—the most important of which is that prospective funding recipients should be able to show how their tools and services align with Salesforce’s existing product offerings. In education, the company offers a version of its flagship customer relationship management (CRM) system for K-12 and higher-ed institutions. There’s also Trailhead, its online platform for employee training.
Salesforce’s announcement comes on the heels of three new education technology investment funds that have emerged in just a little more than a month. In September, Owl Ventures launched two funds, totaling $585 million, just for the education industry. A couple weeks later, ETS, the world’s largest education assessment nonprofit organization, set up a new investment arm for both investments and acquisitions.
Read the full article about education impact funds by Tony Wan at EdSurge.
Impact Investing is a complex topic, and others found these selections from the Impact Giving archive from Giving Compass to be good resources.
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