By 2050, more than two-thirds of the world's population will live in urban areas, a fact that our Latimpacto member, the Botnar Foundation, is aware of and one of the arguments that solidify its work: looking out for the next generations. Driven by innovation, inclusion and creativity, the philanthropic organization helps shape better systems that respond to the needs of young people, where they are always taken into account as crucial contributors and involved in the decision-making process.
Founded in 2003 by Marcela Botnar, who was fulfilling the wishes of her late husband, Octav Botnar, the Botnar Foundation focuses on three key components: building inclusive cities that are ready to support youth health and wellness, harnessing the power of digital technologies to change people's lives, and striving to include young people as equal partners to play an active role in shaping their future. They select low- and middle-income countries whose populations have a relevant proportion of young people in urban settings and where health and wellness projects can thrive through partnership building and dialogue, program and research funding, and investment in purpose-driven enterprises. Antoine Veyrassat, who heads Venture Philanthropy at the Botnar Foundation, explains that the organization has been present in Colombia implementing programs such as "Healthy Cities for Adolescents" in Cali, and has recently engaged in investing in early-stage ventures as part of its Venture Philanthropy strategy.
What does improving well-being mean to the Botnar Foundation? It means that their capital goes to projects that can expand healthier, more open, prosperous, egalitarian, safe, connected and sustainable environments. Knowing that a thriving private sector better supports their core purpose, they apply a market-based approach to philanthropy in addition to their other efforts. This involves creating new markets (either by taking equity stakes, supporting young entrepreneurs themselves or creating networks of local co-investors) that result in innovative and affordable products in the fields of education, healthcare and even financial services, which are also delivered in a fair and equitable manner. Currently, the foundation has invested in more than 10 founders in Colombia, Africa and India, with the most prominent sectors being access to quality healthcare and education. Examples include mental health and coding and digital skills.
Speaking of countries where the foundation has had an impact, Colombia is a vibrant field with lots of potential, local impact funds and family offices, and with demand seen even from non-national equity funds in the later stages of a start-up's development. Antoine encourages his foundation colleagues to invest in regions like Latin America, where the lack of capital is evident. For him, impacting communities like ours is an effective way to practice philanthropy.
"Foundations with a high risk appetite can be catalysts and provide early-stage venture funding and accompany those companies on a growth trajectory."
Although the Botnar Foundation has long experience in the world of financing, intermediaries are a key component of the organization's operations because "they know the environment and ecosystem partners to select potential investments and network with other local investors. That helps us to participate in the investment sphere, exchanging on the investment portfolio and financing with the support of other participants."says Antoine. Having a strong network is also one of the reasons they became members despite having their own local advisor for Colombia and Ecuador - New Ventures. "Latimpacto can provide additional help and connections to find like-minded partners, foundations and investors."
We look forward to seeing Antoine and the rest of the Botnar Foundation team at our Impact Minds conference in Rio next year to continue having these thought-provoking discussions and to continue creating meaningful impact in Latin America.
