Phillip Fisher plans to create a fund to work on social issues and support social entrepreneurs.
What if money invested in organizations working to improve social conditions could be redeployed over and over, while providing a financial and social-impact return for those supporting the work? The concept isn’t new; a few large foundations have been making investments—in addition to grants—in work related to their missions for years. But Phillip Fisher, founder of Mission Throttle L3C and vice chairman of the Max M. & Marjorie S. Fisher Family Foundation, hopes to attract a new class of investors, from individuals to corporations and government, to support Michigan-based social-impact efforts and social entrepreneurs through investments in a new social-impact fund that he hopes will attract $10 million to $50 million. That, experts say, is a game changer.