Like many of you, we've been watching the spectacular meltdown of the FTX cryptocurrency exchange from a safe distance. The firm slid from a lofty $32 billion valuation to Chapter 11 over the course of 2022. And with it, recently-arrested founder Sam Bankman-Fried's vision of ESG-adjacent effective altruism now seems imperiled as well.
So, what lessons can impact investors take from this historic flameout? Impact Engine Partner Tasha Seitz has three key takeaways we can learn from. It's the perfect antidote to "venture FOMO" (fear of missing out).
Hospital readmissions place a large burden on the healthcare system. Each year, they cost payors ~$40B in disbursements and hospitals ~$560M in penalties alone. But many hospital readmissions are avoidable.
Watershed Health is a community-wide care collaboration platform which connects clinical and non-clinical care teams to facilitate communication, streamline the exchange of data and improve care management. Read more: Why we invested in Watershed Health.
The recently-passed Inflation Reduction Act will dramatically reshape the makeup of electricity production in the US in the coming decades. The new law is a game changer for renewable energy development and energy storage installations; it is estimated that the IRA will more than triple US clean energy production.
Perfect Power acquires, develops or redevelops, owns, and operates electric power generation assets. Read more: Why we invested in Perfect Power.
We currently have two open positions at Impact Engine:
Senior Associate, Investor Relations (Chicago/Remote)
Finance & Operations Analyst (Chicago)
We encourage all qualified applicants to apply, and we deeply appreciate everyone who is helping us spread the word!
Afresh, the produce inventory management solution, has now completed its tech rollout to 2,200 Albertson's grocery stores across the country. Albertson's operates thousands of stores under brands like Jewel-Osco, Safeway, United Supermarkets, and more. Afresh typically reduces food waste by 25% when deployed, cutting costs and reducing carbon footprints.
Array Behavioral Care, the telepsychiatry service provider, has closed a $25 million funding round led by CVS Health. “As CVS Health drives more innovation into care delivery, we look forward to working with Array to enhance access that complements our existing services in new ways," said Cara McNulty, President of Behavioral Health and Mental Well-being for CVS Health.
Brightcore Energy is partnering with the NHL to bring energy efficient smart lighting solutions to community ice rinks around the United States. The upgrades, championed by Brightcore President and NHL All-Star Mike Richter, will lower the carbon footprint of hockey rinks and improve the experience for youth players.
Electric shared mobility operator Circuit is partnering with Toyota to fill transportation gaps in West Dallas, Texas. The initiative was created in response to local community meetings centered around a new STEM school opening. “I think the freedom of movement is life changing,” says Kelli Gregory, Toyota Motor North America’s senior mobility analyst and program leader for social innovation and strategic partnerships.
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