ACUMEN FUND INC
Programs
Program 1 [2020]
INVESTING AND PORTFOLIO MANAGEMENT:ACUMEN FUND, INC. (ACUMEN) INVESTS PATIENT CAPITAL IN BUSINESS MODELS THAT DELIVER CRITICAL, AFFORDABLE GOODS AND SERVICES TO THE WORLD'S POOR, IMPROVING THE LIVES OF MILLIONS. SINCE 2001, ACUMEN HAS INVESTED IN BUSINESSES THAT PROVIDE ACCESS TO HEALTH CARE, ENERGY, EDUCATION, WATER & SANITATION, HOUSING, FINANCIAL SERVICES, AND AGRICULTURAL SERVICES TO LOW-INCOME CUSTOMERS. OUR INVESTMENTS ARE ADDRESSING THE PROBLEMS OF POVERTY IN EAST AND WEST AFRICA, SOUTH ASIA, LATIN AMERICA, AND THE UNITED STATES. ACUMEN INVESTED IN 13 NEW COMPANIES IN 2020, REACHING A CUMULATIVE $137 MILLION INVESTED IN 139 BUSINESSES SERVING THE POOR. (SEE CONTINUATION ON SCHEDULE O)ACUMEN WAS ALSO ABLE TO EXIT THREE COMPANIES RETURNING A TOTAL OF $5 MILLION, INCLUDING AN EARLY MONETIZATION OF OUR INVESTMENT IN KOPAGAS, A COMPANY PROVIDING CLEANER-BURNING COOKING FUEL IN TANZANIA AND SANERGY, OUR SEVEN-YEAR INVESTMENT IN AN INNOVATIVE SANITATION AND AGRICULTURE MODEL IN KENYA. IMMEDIATELY AFTER THE PANDEMIC WAS DECLARED, ACUMEN SPRUNG INTO ACTION TO GET MUCH-NEEDED CAPITAL TO OUR ENTREPRENEURS WHOSE COMMUNITIES WERE ON THE FRONT LINES. ACUMEN RAISED NEARLY $6.5 MILLION ACROSS TWO EMERGENCY RESPONSE FUNDS - THE ACUMEN EMERGENCY FACILITY AND THE ACUMEN AMERICA EMERGENCY FUND - FOR OUR INVESTEES AND FELLOWS TO ENSURE THAT THE MOST VULNERABLE WOULD BE SUPPORTED. IN ADDITION TO OUR COVID-RELIEF SUPPORT, ACUMEN ALSO ANNOUNCED OUR SECOND RETURNABLE FUND, THE ACUMEN LATIN AMERICA EARLY GROWTH FUND (MANAGED BY ALIVE VENTURES), FOCUSED ON AGRIBUSINESS, EDUCATION, AND CLEAN ENERGY IN COLOMBIA AND PERU. FURTHER, WE DEPLOYED CAPITAL FOR AN INITIATIVE TO INVEST IN BUSINESSES THAT ENABLE CLIMATE RESILIENCE FOR SMALLHOLDER FARMERS IN WEST AND EAST AFRICA.GeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided–$14.7MProgram 2 [2020]
FELLOWS AND LEADERSHIP PROGRAMS:IN 2020, ACUMEN REORGANIZED ITS FELLOWS AND LEADERSHIP PROGRAMS, BRINGING THEM UNDER THE UMBRELLA OF ACUMEN ACADEMY. LAUNCHED IN MAY, ACUMEN ACADEMY COMBINES OUR +ACUMEN ONLINE COURSES AND FELLOWSHIP PROGRAMS UNDER ONE BRAND, PLATFORM, AND WEBSITE.IN 2020, ACUMEN EXPANDED OUR FELLOWS PROGRAMS INTO FOUR NEW REGIONS: BANGLADESH, MALAYSIA, SPAIN, AND THE UNITED KINGDOM. THE NEW AND EXISTING FELLOWSHIP PROGRAMS PIVOTED TO VIRTUAL AND SEMI-VIRTUAL DELIVERY DUE TO THE COVID-19 PANDEMIC. (SEE CONTINUATION ON SCHEDULE O)THE PROGRAM BUILDS COHORTS OF LOCAL SOCIAL CHANGE LEADERS AND FACILITATES FIVE WEEK-LONG SEMINARS RANGING FROM HOLISTIC APPROACHES TO PROBLEM-SOLVING TO FRAMEWORKS FOR THRIVING IN CHALLENGING ENVIRONMENTS. AS OF THE END OF Q4 2020, A CUMULATIVE 715 ACUMEN FELLOWS HAVE PARTICIPATED IN OUR PROGRAM IN BANGLADESH, EAST AFRICA, INDIA, LATIN AMERICA, MALAYSIA, PAKISTAN, SPAIN, UNITED KINGDOM, AND WEST AFRICA.ACUMEN SUCCESSFULLY LAUNCHED AND RAN A NEW PATH OF MORAL LEADERSHIP ONLINE COURSE, BASED ON JACQUELINE NOVOGRATZ'S NEW BOOK, MANIFESTO FOR A MORAL REVOLUTION: PRACTICES TO BUILD A BETTER WORLD, AND EXPERIMENTED WITH WHAT IS POSSIBLE WHEN TEACHING MORAL LEADERSHIP VIRTUALLY. ACUMEN CONTINUES TO BUILD COURSES AND PARTNERSHIPS AT THE INTERSECTION OF CHARACTER AND COMPETENCE BASED ON THE PAIN POINTS OF SOCIAL INNOVATORS AND EMERGING ENTREPRENEURS. ACUMEN'S GOAL IS TO SOURCE AND CULTIVATE MORE BUILDERS AND GROW OUR COMMUNITY OF SOCIAL INNOVATORS.ACUMEN LAUNCHED ACUMEN ACADEMY CIRCLES, A NEW OFFERING WHICH ENABLES SMALLER GROUPS TO COME TOGETHER (VIRTUALLY OR IN-PERSON) IN LEARNING CIRCLES ANCHORED IN TIMELY, TOPICAL CONTENT. THE CONTENT IS A MIX OF ACUMEN-CURATED AND COMMUNITY-CURATED, AND THE VIRTUAL MODEL WILL ALLOW GROUPS TO CONNECT CROSS-REGIONALLY AS WELL. ACUMEN'S REGIONAL TEAMS ARE ALSO INTENTIONALLY WEAVING CIRCLES INTO THEIR LOCAL STRATEGIES, LEVERAGING THEM EVERYWHERE FROM FELLOWS RECRUITMENT TO REENGAGING FELLOWS FROM PREVIOUS YEARS.GeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided–$6.2MProgram 3 [2020]
IMPACT AND COMMUNICATIONS:THE GOAL OF THE IMPACT AND COMMUNICATIONS TEAMS AT ACUMEN IS TO SUPPORT THE MISSION OF CHANGING THE WAY THE WORLD TACKLES POVERTY BY SHARING THE INSIGHTS FROM OUR WORK, CATALYZING AN ENTREPRENEURIAL, MARKETS-BASED APPROACH TO SOLVING POVERTY, AND SHIFTING PUBLIC PERCEPTION TO SEE THE POTENTIAL OF LOW-INCOME PEOPLE.WHILE PIVOTING TO RESPOND TO THE COVID-19 PANDEMIC WAS OUR DOMINANT FOCUS OF THE YEAR, ACUMEN WAS ABLE TO MAINTAIN MOMENTUM AND CONTINUE PROGRESSING OUR WORK IN SERVICE OF OUR SHARING INSIGHTS WITH OUR STAKEHOLDERS AND SUPPORTERS. (SEE CONTINUATION ON SCHEDULE O)IN FEBRUARY, LONGTIME ACUMEN INVESTEE D.LIGHT REACHED THE IMPRESSIVE MILESTONE OF IMPACTING 100 MILLION LIVES, WHICH WAS PROMOTED AND CELEBRATED BY ACUMEN, AND LOOKED TO AS AN EXAMPLE TO HARNESS LEARNINGS FOR FUTURE INVESTMENTS. THE SUCCESS OF D.LIGHT IS A SHINING EXAMPLE OF THE IMPACT OF PATIENT CAPITAL IN THE OFF-GRID ENERGY SECTOR AND CONTINUES TO PROVIDE OPPORTUNITIES FOR SECTOR-WIDE LEARNING. IN APRIL, AS THE PANDEMIC CONTINUED TO SPREAD GLOBALLY, ACUMEN JOINED THE WORLD ECONOMIC FORUM'S COVID RESPONSE ALLIANCE FOR SOCIAL ENTREPRENEURS. ALONG WITH MORE THAN 50 OTHER FOUNDING MEMBERS, ACUMEN HAS SHARED STORIES ABOUT HOW SOCIAL ENTREPRENEURS ARE RISING TO THE CHALLENGE OF COVID AND LESSONS THAT WE CAN LEARN FROM THEIR EFFORTS TO SERVE PEOPLE IN POVERTY EVEN AMID A GLOBAL HEALTH AND ECONOMIC CRISIS. IN MAY, ACUMEN FOUNDER AND CEO JACQUELINE NOVOGRATZ'S SECOND BOOK MANIFESTO FOR A MORAL REVOLUTION: PRACTICES TO BUILD A BETTER WORLD WAS PUBLISHED, AND A VIRTUAL BOOK TOUR COMMENCED. THE BOOK'S CONTENT WAS CONVERTED INTO AN ACUMEN ACADEMY MASTER CLASS, PROVIDING COURSETAKERS WITH THE OPPORTUNITY TO DIG DEEPER AND LEARN FROM JACQUELINE HERSELF. CONTINUING TO BUILD ON THE MOMENTUM OF THE BOOK LAUNCH, IN SEPTEMBER, JACQUELINE RELEASED A NEW TED TALK, WHAT IT TAKES TO MAKE CHANGE, ON HOW ACUMEN CAN BEST BUILD THE SUSTAINABLE SYSTEMS ACUMEN NEEDS. IN 2020, ACUMEN DOVE DEEPER INTO THE LINKAGES BETWEEN POVERTY AND CLIMATE CHANGE AND, IN NOVEMBER, AS PART OF TED COUNTDOWN, HOSTED TEDXACUMEN, AN EVENT EXPLORING SOLUTIONS AT THE INTERSECTION OF POVERTY AND CLIMATE CHANGE.ACUMEN CLOSED OUT THE YEAR WITH THE WHAT THE WORLD NEEDS NOW CAMPAIGN, CONCISELY AND COMPELLINGLY ILLUSTRATING THE WORLD ACUMEN ENVISIONS, AND THE PEOPLE AND ACTIONS NEEDED TO GET THERE. THE CAMPAIGN MOBILIZED ACUMEN'S AUDIENCE BEHIND A UNITED VISION TO ADDRESS POVERTY IN THE FACE OF BOTH THE COVID-19 PANDEMIC AND CLIMATE CRISIS.GeographiesNot indicatedDatesJan 1, 2020 – Dec 31, 2020Source990No causes providedNo populations provided–$3.5M
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