Acumen Fund is a non-profit global venture fund targeting the four billion people living on less than $4 a day. A non-profit organization ( abbreviated "NPO" also "not-for-profit" is a legally constituted Organization whose objective is to support or engage Its aim is to help build financially sustainable and scalable organizations that deliver affordable critical goods and services that improve the lives of the poor. Poverty (also called penury) is deprivation of common necessities that determine the quality of life including food clothing shelter and safe Drinking water, and Jacqueline Novogratz is the founder and CEO of Acumen Fund. Jacqueline Novogratz is founder and CEO of Acumen Fund, a non-profit global Venture fund that works to solve the problems of global poverty by delivering affordable
Acumen Fund seeks to set the global standard for how to affect wide-reaching social change in poverty alleviation and private sector development by:
- Identifying extraordinary social enterprises with innovative approaches to serving the world’s poor in the areas of health, water, and housing;
- Supporting these enterprises to become financially sustainable and scalable with equity and debt financing and intensive management support;
- Creating the standard for measuring the social and financial returns of these investments and establishing a position of thought leadership based on these successes;
- Building a global community of professionals (staff and Fellows), donors, institutional partners and social entrepreneurs capable of deploying financial, human and intellectual capital to solve some of the most intractable problems of poverty. Poverty reduction (or poverty alleviation) is any process which seeks to reduce the level of Poverty in a community or amongst a group of people or countries In Economics, the private sector is that part of the economy which is both run for private Profit and is not controlled by the State. Social enterprises are social mission driven organizations which trade in goods or services for a social purpose Investment or investing is a term with several closely-related meanings in Business management, Finance and Economics, related to saving
Since its incorporation in April 2001, Acumen Fund has begun to prove that it can raise large amounts of philanthropic capital ($30m + since inception) and cost-effectively invest this money in enterprises that will both achieve high impact social change and return capital for future investments. As of March 31, 2006, Acumen Fund had $11m in investments under management in the following countries: India, Pakistan, Kenya, Tanzania, Egypt and South Africa. India, officially the Republic of India (भारत गणराज्य inc-Latn Bhārat Gaṇarājya; see also other Indian languages) is a country Pakistan () officially the Islamic Republic of Pakistan, is a country located in South Asia, Southwest Asia, Middle East and The Republic of Kenya is a country in East Africa. It is bordered by Ethiopia to the north Somalia to the northeast Tanzania to the south Tanzania ˌtænzəˈniːə officially the United Republic of Tanzania (Jamhuri ya Muungano wa Tanzania is a country in East Africa bordered by Kenya This article is about the country of Egypt For a topic outline on this subject see List of basic Egypt topics. The Republic of South Africa (also known by other official names) is a country located at the southern tip of the continent of Africa It has additional commitments approved by its investment committee of $8m in new investments pending final documentation. By year end, Acumen Fund seeks to have $20m in investments under management.
The Acumen Fund has an Acumen Fund Fellows Program which selects young professionals each year and provides them with the chance to effect real social change through Acumen portfolio organizations in Kenya, Tanzania, South Africa, India and Pakistan. The Fellows spend one year, starting in September, working with the Acumen team and local entrepreneurs.
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