The Center for Financial Services Innovation Joins Clinton Global Initiative
CHICAGO-(Business Wire)-September 25, 2009 - The Clinton Global Initiative (CGI) announced its support this morning for The Center for Financial Services Innovation (CFSI) and CFSI’s commitment to launch a venture capital fund, which will invest in highly scalable financial companies with the potential to deliver both excellent investor returns and transformational change for underbanked consumers.
CFSI has a proven track record in successful change-driver investments, both through its Catalyst Fund and individual projects. As the leader in fostering progressive and pragmatic financial ingenuity in the United States, the CFSI is uniquely positioned to identify and help foster dynamic young companies that can both succeed in the marketplace and make a difference in a community. It joins major corporations across the globe committed to fulfilling CGI’s mission of solving global challenges through innovative, direct action.
“My partners and I are honored to work with the Clinton Global Initiative members to find new ways to improve people’s lives,” said Arjan Schütte, CFSI Associate Director. “Our past investments demonstrate how the energy and creativity of the marketplace can be harnessed to fuel positive change. While the fund’s investment strategy will be highly selective, we believe the ripple effect across underserved communities could impact more than 10,000,000 people, helping to stabilize lower income families and put them on the path to prosperity.”
Univision Communications Inc., the nation’s leading Spanish-language media company, will be a strategic partner, including providing insight into the needs of the Hispanic community.
To learn more about CFSI, visit www.cfsinnovation.com or for more on CFSI’s previous investments visit www.cfsinnovation.com/investment.php. The Clinton Global Initiative’s Annual Meeting concludes today in New York.
About the Clinton Global Initiative (CGI)
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI) convenes global leaders to devise and implement innovative solutions to some of the world’s most pressing challenges. Since 2005, CGI Annual Meetings have brought together more than 100 current and former heads of state, 14 Nobel Peace Prize laureates, hundreds of leading CEOs, heads of foundations, major philanthropists, directors of the most effective nongovernmental organizations, and prominent members of the media. These CGI members have made more than 1,400 commitments valued at $46 billion, which have already improved the lives of 200 million people in 150 countries. Commitments made at the 2008 Annual Meeting are expected to affect almost 160 million people. The CGI community also includes CGI University (CGI U), a forum to engage college students in global citizenship; and MyCommitment.org, an online portal where anybody can make their own Commitment to Action. CGI will hold its Fifth Annual Meeting September 22-25, 2009, in New York City. For more information, visit www.clintonglobalinitiative.org.
For further information, please feel free to contact press@clintonglobalinitiative.org.
About CFSI:
The Center for Financial Services Innovation is the nation’s leading authority on financial services for underbanked consumers. Since 2004, its programs have focused on informing, connecting, and investing – gathering enhanced intelligence, brokering and supporting productive industry relationships, and fostering best-in-class products and strategies. A nonprofit affiliate of ShoreBank Corporation, CFSI works with leaders and innovators in the business, government and non-profit sectors to transform the financial services landscape. For more on CFSI, go to www.cfsinnovation.com.
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