Nonprofit Group Hopes to Steer Investment to Latin America
BOGOTA, Colombia — Between Sunday, April 24, and Wednesday, April 27, the nonprofit Latimpacto is slated to host its first international conference in Cartagena, Colombia, to explore ways to jumpstart fresh investment in Latin America and the Caribbean.
The multinational forum is aimed at bringing together the most relevant actors in impact generation, including corporations, investment funds, grantmaking foundations, family offices and next-gen players, as a collective to propose sustainable, replicable, scalable solutions that will help to respond to the challenges that the social and environmental agenda demands from the region.
The Economic Commission for Latin America and the Caribbean (ECLAC) recently noted that poverty in the region has reached its highest level in the last 12 years, and extreme poverty, in the last 20 years.
According to the 17 Sustainable Development Goals (SDGs) set forth in the United Nations (UN) 2030 Agenda for Sustainable Development, the average investment needed each year by developing countries is between $5 trillion and $7 trillion. However, the current level of investment by governments, development agencies, and other actors has not been sufficient to meet these ambitious goals, focused on reducing poverty and inequality and improving health and economic opportunities by 2030.
All of this creates an annual social investment gap of $2.5 trillion dollars per year, which has only widened as a result of the covid-19 pandemic.
And this is where Latimpacto comes in, with a resolute approach that operates under an infallible duo: strategic connections and specialized knowledge. The nonprofit organization acts as a bridge between philanthropists with a genuine interest in achieving better results and investors who want to support initiatives that offer not only financial, but also social and environmental returns. This innovative community of investors has positioned itself as a promoter and articulator that is mobilizing more capital toward the region and making strategic impact investments.
“The magic here is that you find people with different views to create impact solutions. They also join different skill sets, which is why one of the greatest benefits that Latimpacto offers is the shared development of ideas and collaboration,” explained Doug Miller, co-founder of Latimpacto and its sister networks in Europe, Asia and Africa.
Founded in 2020, during its first year of operation, Latimpacto created the first regional bank of investment opportunities, generating more than 27 shared initiatives and 60 connection opportunities. It also launched the first study with the 37 most outstanding cases in nine Latin American countries, demonstrating impact creation. More than 4200 people have joined its events and workshops, in the midst of the pandemic.
This pioneering community in the region is made up of a multidisciplinary team that is present in Mexico, Colombia, Brazil and Chile, along with several Central American nations. More than 100 leading organizations are part of it, including Fundación Bosch, Fundación Femsa, Fundación BMW, UNICEF, EY, Alphamundi, Fundación Sura, Instituto Humanize and Fundación Grupo Bancolombia.
While Latimpacto is relatively new in the region, it leverages all the knowledge of its sister networks with more than 17 years of experience and close to 1,300 members investing in Europe, Asia and Africa.
“Latin America is a region of opportunities to attract and leverage more capital for impact creation, connecting and learning innovative financial models,” said Latimpacto CEO Carolina Suárez Visbal.