“To really move capital and bring institutional investors into the picture, we needed a larger fund and to have the trust and confidence of those investors, which was only possible through one of the big firms like TPG. ”
— Maya Chorengel
In this episode, I’m speaking with Maya Chorengel, the co-managing partner of The Rise Fund — the world’s largest global impact platform committed to achieving measurable, positive social and environmental outcomes while securing financial returns for its investors.
Founded by TPG, a private equity firm with $224 billion in AUM, The Rise Fund was launched in partnership with U2’s Bono and Jeff Skoll, and now boasts $9 billion in AUM. The fund invests in growth-stage, high-potential, mission-driven companies that have the power to change the world.
Maya is a long-time impact, private equity and venture capital investor and she leads all climate, education, financial inclusion and healthcare investing activities, among others, for The Rise Fund worldwide. She was also the key architect in developing the fund’s impact methodology and assessment process.
She began her investing career at Warburg Pincus and eventually gravitated towards impact investing in 2007, when the concept was still very much in its infancy. Prior to TPG, she was the Managing Director of the Dignity Fund and co-founder of Elevar Equity, where she leveraged venture capital and microfinance to drive impact across emerging markets.
Recognized as Barron’s 100 Most Influential Women in US Finance, among several other awards and titles, Maya has played a substantial role in elevating the concept of impact investing to what it is today, particularly within TPG.
Tune in to hear all about how The Rise Fund leverages TPG’s vast resources, business-building skills, and global network to help portfolio companies accelerate growth, change, and impact.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. You can watch the interview on YouTube here.
What was your favorite quote or lesson from this episode? Please let me know in the comments.
SCROLL BELOW FOR LINKS AND SHOW NOTES…
ADDITIONAL RESOURCES:
- Connect with Maya: LinkedIn
- The Rise Fund
- TPG
- Harvard Business Review article “Calculating the Value of Impact Investing”
SHOW NOTES:
[00:00] Introducing Maya Chorengel: her upbringing, education, & early career
[16:35] Maya’s work at Warburg Pincus and The Dignity Fund
[31:00] Founding Elevar Equity & its theory of change
[47:29] Maya’s move to TPG & an overview of the company
[01:11:29] The Rise Fund’s theory of change & investment universe
[01:20:03] Measuring impact & Maya’s article in the Harvard Business Review
[01:39:07] Examples of companies that Maya invests in with The Rise Fund
[01:51:06] The investment lifecycle, stewardship, and active engagement
[01:56:39] Explaining TPG’s proprietary tool IMM: impact multiple of money
[02:03:16] Maya’s take on the future of impact investing
MORE MAYA CHORENGEL QUOTES FROM THE INTERVIEW:
“Young people care more about what their money is doing than the older generation. We have to give them products that can generate for them positive return profiles while at the same time letting them invest in things that are good for the world. ”
— Maya Chorengel
“In 2016, TPG decided to take a hard look at whether it made sense to start an impact fund, not just because it was the right thing to do, but also because of the financial opportunity there. ”
— Maya Chorengel
