C3 Grantmaking - Evidence Base Stream

Funder: Catalytic Capital Consortium (C3), housed at New Venture Fund

Strategic Partners: John D. and Catherine T. MacArthur Foundation, The Rockefeller Foundation, and Omidyar Network

Focus: Research to strengthen the evidence base for catalytic capital investments by examining why catalytic capital is needed, where it has been deployed, how it has been used, and its potential impact across diverse sectors, geographies, and asset classes.

Geographic Scope

• Global focus with coverage of both Global North and Global South
• Strong preference for Global South research to be conducted by organizations/personnel based in the Global South

Key Research Questions

Proposals should respond to some combination of:

• Why is catalytic capital needed in specific market contexts and gaps?
• Where has catalytic capital been deployed and which investors have been active?
• How has catalytic capital been deployed (terms, risk-return expectations, subsidy, mobilization of conventional capital)?
• What positive outcomes have catalytic capital investments contributed to (inclusion, equity)?
• What negative/undesirable outcomes have resulted (market distortion, inequities)?
• Coverage of both successful and unsuccessful investment experiences

Desired Coverage Across Portfolio

• Roles of catalytic capital: seeding, scaling, sustaining
• Investor types: foundations, development finance institutions, family offices, ultra high net worth individuals
• Asset classes: diverse
• Investee business sectors: diverse
• Geographies: Global North and Global South
• Impact types: social and environmental
• Timeframe: both historical and recent periods

Eligibility

• Academic researchers
• Nonprofits
• Advisory services providers
• Individual applicants or consortia welcome
• Organizations with expertise and capabilities in catalytic capital research

Expected Outputs

• Primary: Published report widely disseminated with Creative Commons license
• Supplementary: Summary points and highlights accessible to investor community
• Optional: Inclusive virtual convenings or workshops to inform and refine insights
• Completion timeline: Within 12 months of grant award

Contact

• Email: Emily Duma (C3 grantmaking program officer)
• Phone: 202-595-1061
• General inquiries: info@newventurefund.org

Proposal Requirements

Each proposal must include:

1. Focus of Work
   • Existing and historical deployments of catalytic capital to be studied
   • Specific context and segment of catalytic capital landscape
   • Relevance for C3 objectives and catalytic capital providers
   • How work advances the field (additionality and complementarity)
   • Articulation of research impact on impact investing market development
2. Approach and Outputs
   • Key research questions
   • Methodology for research and analysis
   • Access to and management of required research data
   • Target audience identification
   • Specification of public outputs and stakeholder engagement approach
   • Approach to learning with C3 strategic partners and other grantees
3. Applicant Information
   • Lead researcher(s) and key team members
   • Relevant experience and capabilities of individuals and organization(s)
   • If consortium: structure, roles, and relationships
   • High-level workplan and timeframe
4. Budget
   • Detailed budget
   • Resources required
   • Co-funding or other available resources
   • Timing for completion

Proposal Format

• Main proposal: Maximum 10 pages
• Appendix: Supplementary information (e.g., team biographies) not exceeding 5 pages

Budget Guidance

• Range: Up to $300,000
• Expected typical range: $75,000 - $150,000
• Upper range: For complex research objectives covering multiple actors and/or sectors

Selection Criteria

Applications will be evaluated on:

• Alignment with stated objectives, requirements, and preferences
• Level of additionality and complementarity to existing evidence base
• Relevance and value for investor audiences
• Contribution to coverage of diverse global catalytic capital landscape
• Access to distinct and valuable investment data and practitioner experience
• Focus on and integration of beneficiary perspective and voice
• Track record, expertise, capabilities, and location of applicant and personnel
• Cost-effectiveness of proposal
• Commitment to learning with C3 partners and other grantees