Acumen was incorporated on April 1, 2001, with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and three individual philanthropists. Our desire was to transform the world of philanthropy by looking at all human beings as members of a single, global community where everyone had the opportunity to build a life of dignity. The organization would invest “Patient Capital,” capital that bridges the gap between the efficiency and scale of market-based approaches and the social impact of pure philanthropy, in entrepreneurs bringing sustainable solutions to big problems of poverty.

Acumen CEO and Founder, Jacqueline Novogratz’s work began in 1986 when she quit her job on Wall Street to help open Rwanda’s first microfinance institution, Duterimbere—an experience that inspired her to write the bestseller, The Blue Sweater: Bridging the Gap between Rich and Poor, and create Acumen. Indeed, when she founded Acumen in 2001, few had heard of the words impact investing.

When we first began, our vision was to create a venture capital fund for the poor, supported by a global community of philanthropists willing to take a bet on a new approach. We would call our donors “Partners” and treat them like investors because our approach would be to invest together in long-term change. Our Partners come from over 20 countries and include individuals and institutions who believe there’s a better way and are working together to challenge the status quo.