San Francisco, USA and Mumbai, India (August 18, 2014) – Toniic – a global network of over 120 action-oriented impact investors – is pleased to announce the financial support of philanthropic investment firm Omidyar Network. Toniic increases the velocity of money and services into impact investing to address global challenges. The Omidyar Network grant will be used to support Toniic’s global expansion and operations.
Led by Stephanie Cohn-Rupp and Shalaka Joshi, Toniic’s presence spans more than 21 countries, where its members have invested millions of dollars in support of social ventures. Toniic’s members commit to discover, evaluate, nurture, and invest in entrepreneurs, enterprises, and funds that promote a sustainable economy.
Omidyar Network’s funding comes through the firm’s impact investing initiative, which provides financial and human capital to strategically support organizations working to advance impact investing globally.
“The capacity building of impact investors is a crucial gap that needs to be addressed so that smarter capital can reach stronger enterprises more quickly. Toniic’s pioneering platform can help us unlock this capital by enabling investors to thrive in a community of learning and practice,” said, Paula Goldman, senior director of knowledge and advocacy at Omidyar Network. “We look forward to working with Toniic to continue to build and support the impact investing market worldwide.”
“We are delighted to be working with a forward-thinking, global group like Omidyar Network. Their support will channel more venture capital towards sustainable solutions to our world’s most pressing problems. Toniic is excited to play a leading role in PI supporting and democratizing impact investing globally,” said Shalaka Joshi, Toniic’s managing director for Asia-Pacific and chief investment officer.
Toniic is cross-sectoral and cross-country, and hosts over 50 social venture showcases every year. It is committed to democratizing impact investing across asset classes to eventually enable the entire investment spectrum – from crowdsourcing to ultra-high net worth individuals – to support social enterprises.
“This partnership will significantly strengthen our work as one of the largest global networks of high-impact investors. We are grateful for Omidyar Network’s support in enabling Toniic’s expansion, ” noted Toniic CEO Stephanie Cohn-Rupp.