This week Haas School of Business launched a project on its home-grown crowdfunding platform with a view to raise an additional US$100,000 for its Socially Responsible Investment Fund for Haas students.
Since 2008 the Haas School of Business of the University of California Berkeley has developed its Socially Responsible Investment Fund from an initial sum of US$1.1 million to just over US$2 million under student management. The fund has exceeded 50% return on investment over a period of six years and outperformed the school’s ESG (environmental, social and governance) benchmarks. Despite this growth, the school continues to develop the fund through outside funding methods.
Kickstarting the crowdfunding campaign was the Pincus Foundation with an initial donation of US$40,000. Other sustainable Californian businesses such as Back to the Roots, Levi Strauss & Co and Revolution Foods also showed their support by providing generous incentives for donors.
Closely linked to the project is Charlie Michaels, class of ’78 at Haas School of Business, and the main force behind the launch of the Socially Responsible Investment Fund back in 2007, contributing US$250,000 in seed investment. Michaels has pledged to match every dollar the crowdfunding initiative receives which would mean, if successful, the project would raise a total of $US200,000.
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