 Hi, everyone. My name is Emily Duma and I'm the Catalytic Capital Consortium's Grant-Making Program Officer. I'm very excited to be here today to share a bit more about the work we've been doing to increase the use of catalytic capital globally. I'm going to share a bit more about our work in general, but I'm particularly excited to tell you about a set of awards we announced just last week, funding research projects in seven countries to analyze past uses of catalytic capital, generating learnings that will grow the market and fuel social and environmental impact. I'll highlight just a few of those important projects that we're funding, many of which are tied to critical issues that so many people have been talking about at SoCAP over the past couple of days. Before we dive into that though, a quick grounding on what we mean when we say catalytic capital. We define catalytic capital as investment capital that is patient, risk tolerant, concessionary, and flexible to generate positive impact and enable third-party investment that otherwise would not be possible. We think engaging with catalytic capital is critical for the SoCAP community. This sort of investing is essential to solving the pressing challenges that we're facing right now, whether that's addressing climate crisis, economic recovery, or exclusion, inequality, and racial justice, and ultimately to achieving the SDGs. Catalytic capital is critical to enabling impact investing to really meet its full potential. Investors must increase their awareness, knowledge, and capability around it if we're going to play our part in building a more just and resilient world. With that charge in mind, the C3 Strategic Partners, the MacArthur Foundation, the Rockefeller Foundation, and the Omidyar Network came together to build the Catalytic Capital Consortium, or as we call it, C3, an investment learning and market development initiative working to utilize investing, grant making, and communication strategies to advance the field. The investment side of this work is led by and based at the MacArthur Foundation. The MacArthur team have made a series of investments that we call field partnerships that are intended to be powerful examples of catalytic capital in action. These investments intentionally span a wide variety of sectors and geographies, and our hope is that these field partnerships shine light on the importance of this form of investment. You can learn more about the field partnerships on MacArthur's website. My work on C3, however, is focused on the grant making part of this circle, which is structured as a $10 million pooled fund housed at and administered by the new Venture Fund. Although I staffed the project, I work closely with our strategic partners to build out the strategy and implementation of our work, which is designed to address key barriers investors, particularly foundations, family offices, ultra high net worth individuals, and development finance institutions face when trying to deploy this type of capital, barriers like the need for more tools or more learnings from what hasn't been tried before. And of course, the thing that ties us all together is strategic communications work that amplifies both what we are doing and tells the story of other actors in the field. C3 is a time bound initiative running through the end of 2023, so we're moving a lot of this work forward in this year and next. Anyway, with that background information shared, back to the news. C3 grant making just announced a cohort of 14 global partners who will help build a consolidated evidence base on past capital deployment globally. This focus on strengthening the evidence base is a key part of our grant making. We've consistently heard from investors that evidence from past deployment has been very anecdotal and is generally only available through relationships. We wanted to instead fund research that is much more systematically pulling out these learnings and then working hard to make those learnings broadly available. We put out a global call for proposals last January and were honestly overwhelmed by the response. We received 87 applications from strong actors and collaborations putting forward fascinating ideas. In and of itself, we think this response is worth talking about. This level of interest has a lot about the state of the market and that fact that there's a ton to be done in this space. Although it was difficult to narrow down the pool, we've ultimately chosen to fund 14 projects whose awards total $2.2 million dollars. Their work cuts across geography, sector, investor audience and use case. We think there's incredible potential in funding a cohort of this scope, especially when we consider the potential outcomes we'll see around data and better understanding market impact. I'll highlight just a few of our grantees, but encourage anyone who is interested to read more about all 14 on our website. We wanted to support projects whose work looks at sectors where there's a long history of deployment, one of which is community development in the United States. The new growth innovation network, or NGIN, is an organization focused on inclusive economic growth. Through this grant, they will synthesize evidence on the ways that catalytic capital has supported wealth creation for Black, Indigenous and people of color communities. Using a retrospective analysis to provide learnings that can be instructive for current and future investment, looking at both demand and supply side challenges as well as best practices. They will then identify opportunities to use catalytic capital to help dismantle the racial wealth gap and advance an inclusive economic recovery from COVID. Centering racial justice and naming the role catalytic capital can play in addressing historical discrimination and disinvestment is a key thing to our work going forward. Another sector with deep deployment is the support of small and growing businesses globally. We're funding a number of projects that are doing work in this space, one example of which is Open Capital Advisors, a strategy consulting firm focused on frontier markets with deep experience across Sub-Saharan Africa. They will leverage their relationships of more than 1,000 small and growing businesses, documenting how catalytic debt could enable their growth. This work specifically focuses on capital challenges faced by businesses that are too small for commercial capital but have cash flow potential to repay. Clearly a space where catalytic capital has a large role to play. OCA really wants to bring the on-the-ground reality into this conversation, both from the perspective of the business owners and the local debt providers to bridge the gap and drive widespread impact. We also wanted to resource some sectors where deployment exists but has been more nascent, but where we see the potential future impact as huge and think that the issues are critically relevant. First People's Worldwide, a native led program within the University of Colorado, will collect examples of past deployment in Indigenous communities throughout both the U.S. and Canada. Working with investors and capital seekers to identify different perspectives and common challenges, the team will develop a framework for a shared understanding of the role and purpose of catalytic capital in Indigenous communities and build a framework for that deployment going forward. For all of these groups, research deliverables should be ready next fall or winter and we're really excited about the powerful learnings that will be generated and the impact for the field. Given that we just announced these grants, I wanted to spend a decent amount of my time highlighting them. However, C3 Grantmaking has a few other programmatic areas of focus that are worth note. We want to embed this work on catalytic capital as much as possible in existing impact investing spaces and that really informs our network partner workstream. In July, we announced four grants to leading networks who will be creating programming and resources for specific investor audiences over the next two years. Keep an eye on the work of MIE, who are working with foundations, Tonic, who are building catalytic capital resources for ultra-high net worth individuals and family offices, Convergence, who are surfacing learnings and building campaigns of engagement with DFI's and the JIN who are doing targeted work on institutional investors and how they can take part in catalytic deals. We'll also be working to build our capacity to support global investors through this workstream. We're also really excited about our advancing practice workstream, which is more programmatic focused on building tools, as is the area where we get to connect with catalytic capital investors directly. We're partnering with courageous capital advisors to convene learning labs, cohorts of experienced catalytic capital investors to discuss what has worked on their deals and how they've addressed challenges and then trying to synthesize these learnings into resources for the broader field. These learning labs have thematic focuses around justice, equity, diversity and inclusion, climate and agriculture, three vital issues to address through this work. Through this workstream, we're also working with FSG to create an additional core resource that we'll build on the Tideline report and further explain underlying concepts of catalytic capital with a goal to release that resource later this year. And then finally, our last workstream, which we're actively working on right now, is called open source. And it's focused on developing innovative solutions that can build out the infrastructure for future deployment. We're actively building some guardrails for this funding stream and have a goal of putting out another open call for applications in January of next year. To learn more about all of this, visit our website. All of this work is culminating in a number of resources, tools, reports and stories that will be featured on our page and you'll be able to find the information there on our next open call for applications in January. And above all, I'll just say we would like to do this work with all of you. We are learning from and building a strong community around catalytic capital that includes investors, intermediaries, capital seekers and field and ecosystem builders. We want to highlight and celebrate the work that is ongoing and help bring more catalytic capital to the table to address critical issues that we all need to tackle together. So thank you for your interest, encouragement and support so far. We're eager to build on the momentum we're seeing both in our work, in the work of our awardees, and in many of the projects that have been highlighted here at SoCAP that focus on catalytic capital. We'd love to connect so feel free to get in touch with me directly. My email is included on this slide. Thanks again for your time and attention today and excited for more to come.