Impetus Trust chairman to stand down to lead African social venture

By: 

Cheryl Chapman

Managing Editor, Philanthropy UK

After seven years as chairman, Stephen Dawson, chairman and co-founder of  Impetus Trust,  the first general venture philanthropy organisation in the UK, intends to step down to take up a fresh social challenge in Africa with the launch of Jacana Venture Partnership.

Dawson will continue to be closely involved in Impetus as a donor, advisor and board member but will be using his vast experience and pioneering spirit to help tackle poverty in Africa.
 
Dawson told Philanthropy UK, “As a pioneer Impetus has taken risks, made mistakes and learned an enormous amount in seven years. The most important learning for us has been to understand how to combine the best of business and the social sector and how to meet the business and social objectives of our donors and the organisations we work with –  striking the right balance between head and heart. The word ‘partnership’ is generally over-used but that is what we have managed to create between the non-profit sector, charities and business. The journey has been immensely rewarding and satisfying.”

He said his decision to stand down as chairman comes at the ‘right time’ for Impetus, which is planning to double the size of its portfolio in the next three-to-four years.

“New leadership will bring new ideas, energy and networks to Impetus,” Dawson says.

Jacana, named after the tropical wading bird seen in Africa that is able to walk across shallow lakes on floating vegetation, continues Dawson’s pioneering journey in venture philanthropy. It aims to reduce poverty in Africa by employing a ‘for-profit’ model to invest in small businesses. Jacana’s approach will be to help create a thriving venture capital industry by building the capacity of emerging VC managers who will in turn fund and support small businesses.

Dawson says: “Africa is at a similar stage to the UK 30 years ago when I started out in venture capital. I am looking forward to sharing what we have learned here to maximise impact and create sustainable businesses and more jobs there.”

Commenting on the announcement, Impetus Chief Executive Daniela Barone Soares said, “As Chairman, Stephen has made a magnificent contribution to the development and success of the organisation.”

A search committee has been appointed to find a successor by the first quarter of 2010.