The New Power Movement

3 min read · Nov 17, 2023
New Power Labs

Last week, we launched the New Power Network with more than seventeen capital-deploying partners – from foundations to impact investment firms to asset managers, all with a goal to collectively invest $500M to underfunded and overlooked leaders by 2030. (More foundations and investors plan to join in the next two months — connect if you are interested.)

In our journey of advancing capital to underfunded leaders and communities, it can feel like we are taking two steps forward, only to be pushed one step back. What is happening in the world with increased polarization puts at risk the progress we've made over the past few years. It's not enough to merely focus on moving forward; we must also stand our ground to limit the setbacks. And we can do this together.

Collaboration was a shared mindset in the room. There is an opportunity to rethink both perceived and actual risks. To move beyond the incremental, there is a role for funders to work together to create structures that accelerate participation and de-risk opportunities. We have the chance to solve for the data and infrastructure that enables us to do better. When we learn out loud together, we can move out of silos and avoid “reinventing the flat tire.”

The challenges we face are more daunting than ever, and the fear of failure can be paralyzing. However, these very challenges are also urging us to move beyond unfulfilled pledges. This is our opportunity to unlock the full potential of Canada, centering the voices of underfunded leaders and communities. There is power in a coalition of capital deployers with a shared goal to explore, learn, and even fail, as we advance together on this journey.

We are eager to partner with you in this movement. Learn more about the New Power Network here. 

Contributed by: Hanh Le

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