Impact investor Calvert Foundation announced a $5 million investment in SA Taxis in a bid to help make public transportation in South Africa more sustainable, and safer.
The new line of business, announced on Wednesday, pools funds from institutional and accredited investors in the form of syndications, enabling impact investment at-scale. Transactions will target deals in the range of $10 million to $50 million.
“No, I haven’t followed a linear path at all,” says Jennifer Pryce, CEO of Calvert Foundation, who helped conceive the community investment note where investors can pitch in for as little as $20. “I was really trying to understand where the intersection of finance and people can exist, and how to create value in that place so you can attract more capital and create change.”