Propel Capital, a philanthropic and impact investing fund that supports innovative strategies to deploy capital for social impact, has announced a challenge grant to Wesleyan’s Patricelli Center for Social Entrepreneurship (PCSE). Every dollar raised in gifts or pledges to the PCSE endowment by June 2017 will be matched 1:1 by Propel, up to $700,000 which will fully endow the Center.
Co-founded by Jeremy Mindich ’87 and Sarah Williams ’88, Propel Capital provides grants and investments to nonprofits and social enterprises early or at critical junctures in their development. Mindich and Williams were part of a small group of Wesleyan alumni who came together in 2009, along with Bob Patricelli, and conceived of the Center. In 2011, Propel Capital provided seed funding to launch the Center’s programming. Williams co-chairs the Advisory Board and Mindich serves as a seed grant judge and advisor to the Center.
“One of the hallmarks of a Wesleyan education is the ability to challenge commonly held assumptions and beliefs and to chart new ways of doing things,” Mindich said. “The Center creates a pipeline of talented students skilled in this kind of thinking and then connects them to the amazing alumni network of Wesleyan social entrepreneurs.“
The Patricelli Center provides students with the training, experience, and connections to accelerate their growth as social entrepreneurs. “Wesleyan students combine ingenuity, drive, and passion for impact,” Williams said. “We are proud of the work the Center has done to date and excited about its future as a critical Wesleyan institution.”
The Patricelli Center for Social Entrepreneurship provides workshops and a class, seed funding to explore new ideas, opportunities and training to serve on boards of local nonprofits, business mentors, summer internship financing, connections to and between alumni in related fields, and helps incubate new enterprises on campus. This year, the Center organized and hosted the first Social Impact Summit, a conference attended by 120 people that featured many enterprises launched by Wesleyan alumni.
In addition to its work around the world, Propel Capital is a sustaining supporter of key projects across Wesleyan, including the PCSE, the Center for Prison Education, and the Kevin Sanborn ’87 Scholarship and Summer Experience Grants.
To learn more about the Patricelli Center, visit www.wesleyan.edu/patricelli. For information about making a gift or pledge, contact Steve Kirsche at skirsche @ wesleyan.edu. View past News @ Wesleyan stories on the Patricelli Center here.