Putting faith and tech talent together. Click here to read more:
Sagamore’s Amy Sherman features a church that launched 11 social enterprises. Click here to read more:
Americans give $ 1 billion to charity every day and nonprofits account for 1 in 10 jobs in the American economy. These numbers suggest that the social sector is big business yet it’s really small business with a sore lack of market discipline. Consider: of the $378 billion in American philanthropy last year, 77% came from individual donors averaging $1500 per year. On the demand side, three-quarters of America’s 1.5 million nonprofits operate on budgets less than $500,000. The transactions between the small givers and small charities are rarely driven by any meaningful understanding of results or return on investment.
Sagamore’s impact fund remedies this problem by bringing venture capital-style due diligence to nonprofits and companies seeking to produce social good. The US venture capital industry has fueled remarks invention, innovation, and economic growth. This is due to the niche VC capital fills in the financial services industry and the diligence that is imposed before investments are made. Similarly, Sagamore’s fund offers seed the same levels of funding (seed or growth) and exit events and rigorous delta reports tracking financial and social returns.