Impact Investing in the Creative Economy
Tuesday, October 23, 10:00am – 11:30am
Organized by Upstart Co-Lab.
Moderated by Laura Callanan, founding partner, Upstart Co-Lab. Presented by Sam Marks, executive director, Local Initiatives Support Corporation NYC; Justina Lai, director of impact investing, Wetherby Asset Management; and Brian Murray, principal, Shift Capital.
The arts receive 5% of US philanthropic giving, roughly $22 billion annually. If the arts received 5% of all impact investment assets under management in the US, that would be $435 billion more in capital for creativity and culture. Impact investing ensures that as the creative economy grows, the investment will be shaped by the values of equity, sustainability, and inclusion; will prioritize the needs to diverse communities; will continue to be an on-ramp to opportunity for women entrepreneurs and entrepreneurs of color; and will grow as a source of quality jobs for middle-skill workers. Hear from Justina Lai of Wetherby Asset Management about the basics of impact investing and current trends; from Sam Marks about the LISC NYC Inclusive Creative Economy Fund, the first impact investment vehicle of its kind; and from Brian Murray about Shift Capital’s investments in Philadelphia’s MaKen Studios Art District. Moderator Laura Callanan will share the latest research from Upstart Co-Lab about how to bring a creativity lens to impact investing, the impact funds that are including the creative economy as part of their strategy already, and the pipeline of 100 investable opportunities for impact investment in the creative economy today.