Caspian and Grassroots work closely together on project development and management, sharing staff and resources between their New York, Massachusetts, Hyderabad and Delhi offices. For more information about Caspian please visit Caspian’s web site.

WHAT’S NEW:

• SEEP 2013: From Tuesday, Nov 5th to Thursday, Nov 7th, Grassroots will be in Arlington, VA attending the annual SEEP Conference. This year’s focus area will be Partnerships and Cross-Sector Approaches. If you are attending the conference or in the Washington DC area and would like to meet, please contact us. For more information on the conference, please click here.
• For the third consecutive year, Grassroots Capital Management PBC has been selected for the ImpactAssets 50 2013, see link. The IA50 is an annually updated list of experienced private debt and equity impact investment fund managers.  The IA 50 serves as a gateway for those interested in achieving social and/or environmental, as well as financial, returns on their investments.  Fund managers included in the IA 50 2013 manage a combined $10.8 billion in assets within the impact investing market. Firms were chosen based on experience, impact, and with an eye toward reflecting the diversity of impact investment opportunities. For Grassroots’ profile click here.
• Grassroots will participate in a joint meeting of the Council of Microfinance Equity Funds (CMEF) see link and the UN PRI in London October 28th to further develop the concept of “balanced returns” in microfinance as one of the PRI’s Principles for Investors in Inclusion Finance (PIIF) see link. The meeting will be held in coordination with the Financial Inclusion 2020 Global Forum.  Paul DiLeo is a member of the executive committee of CMEF and stepped off the steering committee of the PIIF earlier this year.
• Paul DiLeo and Anna Kanze of GCM will be attending the FOROMIC in Guadalajara September 29 through October 2. The FOROMIC is the annual forum to advance microfinance in Latin America organized by the Multilateral Investment Fund (MIF), member of the IDB Group, and well attended by microfinance institutions, investors, networks, and other industry players. On Sunday, 29 September, Anna Kanze will moderate a panel on Corporate Governance in Microfinance organized by the SPTF in collaboration with MIF and COSUDE. Leading international governance experts in the region will share their experiences of best practices in governance and their implementation. There will be an opportunity for active discussion among participants. For more information on this panel, click here. To request a meeting with Grassroots at the FOROMIC, click here or email GCM.
• A Slow Money chapter has been launched in the Pioneer Valley of Western Massachusetts; Paul DiLeo has joined the steering committee, see link. Slow Money Pioneer Valley aims to spur investment to build the local food system and will hold a series of investment showcases starting in September 2013.
• On August 1st, Grassroots joined 16 other companies to register as the first Delaware Public Benefit Corporations (PBC). Delaware is the 18th state to create a PBC form, and by far the most important given Delaware’s unique position as a leading state for incorporations and leadership in corporate law. Grassroots has been a certified B Corporation see link since 2008 and our funds are GIIRS Pioneer Fund Managers. Building on these efforts, becoming a PBC helps Grassroots preserve its mission and ensure that the interests of all our stakeholders are protected, contributing to a better, more just world. In addition to these forerunners, more than 600 companies celebrated the launch of the Delaware PBC by signing an Open Letter to Fellow Business Leaders. Links to the Open Letter and other information on this inspiring event are provided below: Open Letter link, published on CSRNews Wire Article by Chrystia Freeland ‘Capitalism, but With a Little Heart’ see link, from The New York Times Governor Markell’s Press Release see link, an OpEd ‘A New Kind of Corporation’ see link.
• Discussions on the implementation of social performance standards are continuing. In early July CGAP posted new articles by Paul DiLeo, see link and Frank DeGiovanni, Director of the Financial Assets Unit at the Ford Foundation and Board Chair of the SPTF, see link.
• Grassroots has completed a Ten Year Review of the Gray Ghost Microfinance Fund. The review summarizes Gray Ghost’s 23 investments and nearly $100mm in commitments and assesses its results and lessons learned see link.
• Social Performance Task Force: Anna Kanze and Louise Moretto represented Grassroots at the 2013 Annual meeting of the SPTF June 5-8 in Panama City, link to SPTF. A focus of discussion was a statement on “balanced returns” drafted by a group of MIV managers led by Incofin and Grassroots see link.
• Grassroots has become a sponsor of the Money and Impact Investing Directory which aims to foster learning and engagement for people interested in aligning money and values, see link.
• What’s New Archive click here