Colorado Impact Fund testing waters of “impact” investments
The Denver Post
(April 24, 2015)
Bootstrapping got Denver-based Schoolrunner only so far.
Three years after its 2012 founding, Schoolrunner had its student data management software in 72 schools, covering 50,000 students.
Seeing the potential to put the software in the hands of more teachers — and, ideally, bettering education in the process — founder Charlie Coglianese hoped to broaden Schoolrunner’s reach.
But Coglianese was wary that traditional venture investment might force his firm into a pattern of unwieldy growth and simplify the technology offerings in the name of greater returns.
Schoolrunner ultimately found a different kind of backer: The Colorado Impact Fund, a newly launched private equity with a social and environmental bent.