LSI, Inc., a global business development firm serving government, commercial and nonprofit clients, signed a partnership with Evergood Impact, a B Corporation that provides social impact capital solutions to impact makers and impact investors, to raise more than $250m in social impact funds.
THE PRESS RELEASE
LSI and Evergood to Raise $250M in Social Impact Funding
Strategic partnership aims to revolutionize social impact financing in the United States and internationally
April 09, 2019 12:00 PM Eastern Daylight Time
LAYTON, Utah–(BUSINESS WIRE)–LSI, Inc., a global business development firm serving government, commercial and nonprofit clients, announced a partnership with Evergood Impact to raise more than $250 million in social impact funds. The partnership will help revolutionize social impact financing in the United States and internationally, making it easier for entities to fund and lead social change projects with predicted savings and investment returns.
LSI supported one of the first social impact bonds in the United States through a partnership with Goldman Sachs. The company has since established a successful practice area to address social and economic challenges through strategic partnerships. Evergood seeks to open up capital markets to impact makers and government programs nationwide to maximize social returns.
Social impact bonds or SIBs are contracts with the public sector in which a private investment results in cost savings, increased tax revenue or other social benefits, or all three. These bonds are similar to other government bonds in which the time period and rate of return are fixed. The government’s repayment to third-party investors, however, is contingent on specified outcomes achieved.
“New sources of capital investment will enable social impact enterprises to scale their solutions, resulting in significant positive outcomes for their communities,” said Chaitali Patel, Evergood CEO. “These impacts can tangibly deliver cost savings or revenue increases for local, state and federal governments—it’s a win-win-win solution across all stakeholders to produce social good across communities.”
“The LSI team is uniquely qualified to ensure that social impact funding will reduce many of the risks and social challenges facing communities throughout the world,” said Sean Slatter, LSI CEO. LSI’s Washington, D.C. social impact team, led by VP of Public Policy, Joshua Johnson, will work directly with Evergood to raise funds and identify social impact projects.
LSI’s mission encompasses business development solutions that build and sustain industries, strengthen economies and create lasting social impact. The company operates with integrity, ingenuity and leadership to deliver solutions that make the difference. Learn more at www.lsiwins.com.
Evergood Impact is a B Corporation that provides social impact capital solutions to impact makers and impact investors. The Evergood team works with businesses, nonprofits, foundations, family offices and CSR venues nationwide. In addition to SIB intermediary services, Evergood also specializes in due diligence, development strategy, portfolio management and impact measurement solutions. For more information, visit www.evergoodimpact.com.