Impact Investing Gets Bigger With New $400M Venture Fund

By Anne Field

Impact invest­ing funds are def­i­nite­ly grow­ing in stature.

Case in point: the close of a new $400 mil­lion dou­ble-bot­tom line ven­ture cap­i­tal fund from DBL Part­ners in San Fran­cis­co, formed by two ear­lyTes­la Motors TSLA ‑5.28% investors with a long-time inter­est in impact invest­ing. The founders also say it’s the largest social impact ven­ture fund in existence.

One of them is Nan­cy Pfund, who spun DBL Investors out of JP Mor­gan & Co. in 2008, rais­ing a $150 mil­lion fund two years lat­er. Recent­ly, she joined forces with Ira Ehren­preis, pre­vi­ous­ly a gen­er­al part­ner atTech­nol­o­gy Part­ners, as well as with that firm’s clean tech prac­tice. Both are man­ag­ing partners.

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