The fund joins an ever-growing list of impact investing resources available to students at Booth, including internships, courses in traditional and social impact investing, scholarships, competitions, events, and one-on-one mentoring led by the Rustandy Center, Booth’s destination for people committed to helping solve complex social and environmental problems. (To view a complete list of the Rustandy Center’s offerings, click here.)
“Despite this growth in the overall impact investing ecosystem, a gap remains in early-stage catalytic funding for social enterprises,” Gertner said. “The fund will seek to fill some of those capital gaps to support the next generation of social entrepreneurs.”
Real-World Investing Experience
The idea for the Steven Tarrson Impact Investment Fund started with Booth students. Years of continued interest culminated in spring 2019, when students collaborated with the Rustandy Center to research funds at peer schools, survey student interest, and explore models that might work.
Tarrson’s gift creates a fund that puts them at the center of day-to-day operations, supported by the Rustandy Center and with oversight from Booth faculty and investment professionals. Participating students will source investment deals, perform due diligence, and make investment recommendations to an external investment committee.
“The launch of this student-run impact investment fund demonstrates the Rustandy Center's and Chicago Booth's commitment to not only educating students in impact investing but also, more broadly, enabling students to solve pressing global issues,” said Lexi Zarecky, ’19, a recent graduate and Chartis Group consultant who researched the fund project. “I’m extremely excited for future students to have this opportunity and look forward to seeing the impact this fund will have on the global community!”
The investment fund differs from others at the University of Chicago because students are only considering direct investments in external mission-driven companies.