September 30, 2016Resources

Join us for Aligning Profits & Impact in High-growth Startups Event

On October 19, Morrison & Foerster will co-host “Aligning Profits & Impact in High-growth Startups” with impact.tech, a community group for techies who want to use technology for good. Partner Suz Mac Cormac joins Seth Bannon, co-founder of Fifty Years, a seed fund that backs entrepreneurs solving the world’s biggest problems with technologies, to discuss how ...›

September 27, 2016Corporate Form, Deal Structures

From “To B or Not To B”

1. A “B Corporation” is Not a New Corporate Form A “B Corporation” or “B Corp” is a certification mark – like a “Good Housekeeping” seal of approval or “LEED” certification.  B Labs has done a very good job of creating a framework for companies to evaluate their business and operations on ESG factors and to then receive a score or ranking.  ...›

September 20, 2016Corporate Form, Resources

Social Enterprise Legislation in the United States: An Overview

Traditionally, corporate decision-making has been driven by the singular goal of maximizing shareholder value.  Increasingly, however, businesses seek to pursue a social or environmental mission alongside profit.   Such so-called “social enterprises” may find that fiduciary duties associated with the traditional corporate form limit the corporation’s ability to achieve mission.  Accordingly, mission-oriented for-profit entities may consider ...›

September 13, 2016Deal Structures, Funding/Financing

Impact Investing: VCs Recognize Social Enterprises Can Outperform Traditional Start-Ups

The notion that a company should care about more than just making money started with corporate social responsibility over 50 years ago, but the trend has rapidly increased in recent years and has produced a multi-billion dollar impact investing market. Today, we have new corporate forms structured around an entity’s social mission, such as the ...›

September 6, 2016Funding/Financing

Green Bonds: A Growing Market in Sustainability

Green bonds are bonds whose proceeds are earmarked for environmentally friendly (green) projects. Despite the specific purpose green bonds were created for, they are a surprisingly flexible source of funding for organizations looking to finance green initiatives. Like ordinary bonds, green bonds can be structured multiple ways to fulfill the specific needs of both borrowers ...›

August 30, 2016Resources

Impact Investment Incubators and Accelerators: Engines for Growth?

As the impact investment sector continues to grow, it is important to understand and evaluate the role that impact-investment incubators and accelerators may play in driving value both for social entrepreneurs and impact investors. What services do incubators and accelerators provide to social enterprises? As with their counterparts in the traditional, for-profit space, social-impact incubators ...›

Global Markets
August 23, 2016Foreign Investments

Impact Investing in Emerging Markets

Emerging markets remain ripe for impact investing – it is an increasingly important way to support small and growing businesses in emerging markets, thereby stimulating long-term economic growth, creating jobs and spurring social impact. Although emerging markets are highly volatile and slowing or negative GDP growth remains a concern, the 2016 Global Limited Partners Survey ...›

Impact Investing – Fund Mechanisms to Incentivize Impact

A growing number of investors aim to achieve positive social or environmental impacts alongside financial returns.  For such impact investors, there are various legal and structural mechanisms to consider.  In order to incentivize impact in the context of fund formation in particular, certain key concepts should be drafted into the legal documents from the outset.  ...›