Impact Investing in the Creative Economy Today
In 2015, the Global Impact Investing Network’s (GIIN) Annual Impact Investor Survey reported Arts and Culture as 0% of the $60 billion worth of impact assets under management by its global members.1 The GIIN survey in 2016 combined Arts and Culture into the “Other” category, though the number of survey respondents with allocations to Arts and Culture grew to 18 (out of 158) in 2016 from 12 (out of 147) the prior year.
In 2015, three impact investment advisory firms – Veris Wealth Partners, Tideline, and Bienville Capital Management – working independently could not identify impact investment opportunities in Arts and Culture for clients who requested them. In addition to these three impact wealth advisors, Upstart Co-Lab has had conversations with approximately one hundred impact investors and their wealth advisors confirming their interest in investing in arts and creativity if the investment products, funds and strategies were available.
Upstart Co-Lab’s deep dives into ethical fashion, sustainable food, and social impact media (released November 2019) explore the history, current trends, and future opportunities for impact investors in these sectors.
As of 2015, GIIN was comprised of 158 foundations, banks and other institutional investors. This report of 0% likely means that Arts and Culture investment was less than $300 million and rounded down to zero.