Jacqueline Novogratz (born 1961) is an American entrepreneur and author. She is the founder and CEO of Acumen, a nonprofit global

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...

fund whose goal is to use entrepreneurial approaches to address global poverty.

Early life

Novogratz was born in 1961 in the US, the eldest of seven children. Her father was a career officer and major in the

U.S. Army The United States Army (USA) is the land service branch of the United States Armed Forces. It is one of the eight U.S. uniformed services, and is designated as the Army of the United States in the U.S. Constitution.Article II, section 2, cl ...

, and her mother, Barbara, ran an antiques business. She attended

Fort Hunt High School Fort Hunt High School was a public secondary school near Alexandria, Virginia from 1963 until 1985, when it was converted to a middle school. Constructed at a cost of $2.5 million, Fort Hunt High opened its doors at 8428 Fort Hunt Road in 1963, t ...

in Alexandria, Virginia, and earned a bachelor's degree from the

University of Virginia The University of Virginia (UVA) is a Public university#United States, public research university in Charlottesville, Virginia. Founded in 1819 by Thomas Jefferson, the university is ranked among the top academic institutions in the United S ...

, where she studied economics and international relations. She earned an MBA from the

Stanford Graduate School of Business The Stanford Graduate School of Business (also known as Stanford GSB) is the graduate business school of Stanford University, a private research university in Stanford, California. For several years it has been the most selective business schoo ...

Career

Novogratz started her career at

Chase Manhattan Bank JPMorgan Chase Bank, N.A., doing business as Chase Bank or often as Chase, is an American national bank headquartered in New York City, that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and fina ...

in 1983, as an international credit analyst. After three years, she left banking to explore how to make a difference in the world. She worked throughout Africa as a consultant for the

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

and for

UNICEF UNICEF (), originally called the United Nations International Children's Emergency Fund in full, now officially United Nations Children's Fund, is an agency of the United Nations responsible for providing Humanitarianism, humanitarian and Devel ...

. As a UNICEF consultant in

Rwanda Rwanda (; rw, u Rwanda ), officially the Republic of Rwanda, is a landlocked country in the Great Rift Valley of Central Africa, where the African Great Lakes region and Southeast Africa converge. Located a few degrees south of the Equator ...

in the late 1980s, she helped found ''Duterimbere,'' a

microfinance Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings ...

institution. Novogratz founded and directed The Philanthropy Workshop and The Next Generation Leadership programs at the

Rockefeller Foundation The Rockefeller Foundation is an American private foundation and philanthropic medical research and arts funding organization based at 420 Fifth Avenue, New York City. The second-oldest major philanthropic institution in America, after the Carneg ...

before founding Acumen in 2001. Acumen invests

patient capital Patient capital is another name for long term capital. With patient capital, the investor is willing to make a financial investment in a business with no expectation of turning a quick profit. Instead, the investor is willing to forgo an immediate ...

in businesses that provide critical goods and services to people living in poverty. It estimates that it has impacted more than 260 million people through its investments. Novogratz oversaw the development of Acumen's Fellowship program, which develop leaders for the social sector. Novogratz serves on the Harvard Business School Social Enterprise Initiative, and

. She also serves on the

Aspen Institute The Aspen Institute is an international nonprofit organization founded in 1949 as the Aspen Institute for Humanistic Studies. The institute's stated aim is the realization of "a free, just, and equitable society" through seminars, policy programs ...

board of trustees, the Pakistan Business Council Centre of Excellence in Responsible Business (CERB)], is a member of the

Council on Foreign Relations The Council on Foreign Relations (CFR) is an American think tank A think tank, or policy institute, is a research institute that performs research and advocacy concerning topics such as social policy, political strategy, economics, mi ...

, and the

American Academy of Arts & Sciences The American Academy of Arts and Sciences (abbreviation: AAA&S) is one of the oldest learned societies in the United States of America, United States. It was founded in 1780 during the American Revolution by John Adams, John Hancock, James Bow ...

Hillary Clinton Hillary Diane Rodham Clinton ( Rodham; born October 26, 1947) is an American politician, diplomat, and former lawyer who served as the 67th United States Secretary of State for President Barack Obama from 2009 to 2013, as a United States sen ...

, as Secretary of State, appointed Novogratz to the State Department's Foreign Affairs Policy Board.

''The Blue Sweater''

In 2009, Novogratz published ''The Blue Sweater: Bridging the Gap Between Rich and Poor in an Interconnected World''. The book is a firsthand account of her journey from international banker to social entrepreneur and founder of Acumen. The title of her book, ''The Blue Sweater'', refers to an encounter she had in

Kigali, Rwanda Kigali () is the capital and largest city of Rwanda. It is near the nation's geographic centre in a region of rolling hills, with a series of valleys and ridges joined by steep slopes. As a primate city, Kigali has been Rwanda's economic, cu ...

. Novogratz spotted a boy wearing a blue sweater. She recognized it as a sweater she had owned and given to Goodwill a decade earlier; it was hers, with her name on the tag. The encounter was an epiphany for Novogratz; her sense of the interconnectedness of our world has continued to influence her current work.

Personal life

Novogratz is married to

Chris Anderson Chris Anderson may refer to: Sports * Chris Anderson (baseball) (born 1992), American baseball player * Chris Anderson (cheese roller), 22-time winner of annual cheese rolling * Chris Anderson (footballer, born 1925) (1925–1986), Scottish footb ...

, the owner of

TED Talks TED Conferences, LLC (Technology, Entertainment, Design) is an American-Canadian non-profit media organization that posts international talks online for free distribution under the slogan "ideas worth spreading". TED was founded by Richard Sau ...

. Her brothers include

Michael Novogratz Michael Edward Novogratz (born November 26, 1964) is an American investor, formerly of the investment firm Fortress Investment Group. He is currently CEO of Galaxy Investment Partners which focuses on investments in cryptocurrency. Early life R ...

and Robert Novogratz.

Awards

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also re ...

magazine's 100 Greatest Living Business Minds, 2017 *

400 Lifetime Achievement Award for Social Entrepreneurship, 2016 * The Resolution Project Champions Circle Award, 2016 *

Asia Society The Asia Society is a non-profit organization that focuses on educating the world about Asia. It has several centers in the United States (Manhattan, Washington, D.C., Houston, Los Angeles, and San Francisco) and around the world (Hong Kong, Man ...

Game Changer, 2014 * Bloomberg Markets 50 Most Influential in Global Finance, 2014 * 25 Most Successful Stanford Business School Graduates of All time *

Distinguished Alumna Award, 2013 *

Middlebury College Middlebury College is a private liberal arts college in Middlebury, Vermont. Founded in 1800 by Congregationalists, Middlebury was the first operating college or university in Vermont. The college currently enrolls 2,858 undergraduates from all ...

CSE Vision Award and honorary doctorate, 2013 * Notre Dame Award for International Human Development, 2013 * Women of Concern Humanitarian Award, 2012 *

Rensselaer Polytechnic Institute Rensselaer Polytechnic Institute () (RPI) is a private research university in Troy, New York, with an additional campus in Hartford, Connecticut. A third campus in Groton, Connecticut closed in 2018. RPI was established in 1824 by Stephen Van ...

’s Entrepreneur of the Year Award, 2010 *

Wofford College Wofford College is a private liberal arts college in Spartanburg, South Carolina. It was founded in 1854. The campus is a national arboretum and one of the few four-year institutions in the southeastern United States founded before the America ...

’s Sandor Teszler Award for Moral Courage and Service to Humankind in

Spartanburg, SC Spartanburg is a city in and the seat of Spartanburg County, South Carolina, United States. The city of Spartanburg has a municipal population of 38,732 as of the 2020 census, making it the 11th-largest city in the state. For a time, the Offic ...

, 2010 *

Foreign Policy A State (polity), state's foreign policy or external policy (as opposed to internal or domestic policy) is its objectives and activities in relation to its interactions with other states, unions, and other political entities, whether bilaterall ...

's Top 100 Global Thinkers, 2009 *

Daily Beast ''The Daily Beast'' is an American news website focused on politics, media, and pop culture. It was founded in 2008. It has been characterized as a "high-end tabloid" by Noah Shachtman, the site's editor-in-chief from 2018 to 2021. In a 20 ...

's 25 Smartest People of the Decade, 2009 * AWNY's Changing the Game Award, 2009 *

Ernst & Young Ernst & Young Global Limited, trade name EY, is a multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and Pricewaterh ...

Entrepreneur of the Year 2008 *

Warren Weaver Fellow *

Henry Crown Fellow

Honorary degrees

* Doctor of Humane Letters

New England College New England College (NEC) is a private liberal arts college in Henniker, New Hampshire. As of Fall 2020 New England College's enrollment was 4,327 students (1,776 undergraduate and 2,551 graduate). The college is regionally accredited by the Ne ...

, 2017 * Doctor of Laws,

University of Toronto The University of Toronto (UToronto or U of T) is a public research university in Toronto, Ontario, Canada, located on the grounds that surround Queen's Park. It was founded by royal charter in 1827 as King's College, the first institution ...

, 2015 * Doctor of Humane Letters,

Bard College Bard College is a private college, private Liberal arts colleges in the United States, liberal arts college in Annandale-on-Hudson, New York. The campus overlooks the Hudson River and Catskill Mountains, and is within the Hudson River Historic ...

, 2014 * Doctorate of Humane Letters,

, 2013 * Doctor of Humane Letters,

Fordham University Fordham University () is a Private university, private Jesuit universities, Jesuit research university in New York City. Established in 1841 and named after the Fordham, Bronx, Fordham neighborhood of the The Bronx, Bronx in which its origina ...

, 2012 * Doctor of Laws,

University of Notre Dame The University of Notre Dame du Lac, known simply as Notre Dame ( ) or ND, is a private Catholic research university in Notre Dame, Indiana, outside the city of South Bend. French priest Edward Sorin founded the school in 1842. The main campu ...

, 2011 * Doctor of Humanities,

, 2010

Works

* ''The blue sweater : bridging the gap between rich and poor in an interconnected world'', New York Rodale 2010. * ''Manifesto for a moral revolution : Practices to Build a Better World'', New York: Henry Holt and Company, 2020.

References

{{DEFAULTSORT:Novogratz, Jacqueline Living people American chief executives of financial services companies American economics writers American financial analysts American financial company founders American women company founders American company founders American nonprofit chief executives American venture capitalists American women chief executives Businesspeople from New York City Social entrepreneurs Stanford Graduate School of Business alumni University of Virginia alumni William Peace University alumni World Bank people Writers from New York City Women financial analysts American women investors Women chief executives Henry Crown Fellows Recipients of the Four Freedoms Award 1961 births Asia Game Changer Award winners 21st-century American businesswomen 21st-century American businesspeople 21st-century American women writers