ALAQA

Today, I’m joined by Nicolas Muller, Managing Director and Head of Private Equity Partnerships at Blue Earth Capital, a dedicated impact asset manager investing globally across social and environmental impact. With a background spanning traditional private equity, emerging markets, and impact investing, Nicolas works at a particularly interesting point in the impact ecosystem: building the market for impact secondaries and exploring how liquidity can help impact investing grow, mature, and ultimately become more mainstream.At Blue Earth Capital, Nicolas focuses on investing in and alongside impact funds, while developing a secondary market designed to unlock liquidity for investors and fund managers without losing sight of the impact mission. His conviction is that secondaries can do more than provide an exit: they can bring new investors into impact, give existing investors the ability to recycle capital, and give companies and managers the time they need to pursue long-term value creation.In this conversation, we unpack what it really takes to build an efficient impact market, from the tensions between impact investing and traditional asset management, to the role of dedicated impact players, the different forms of secondary transactions, and the question of whether impact should influence how we value a company. We also explore a particularly important tension: how can we create liquidity without undermining the patient capital that many impact businesses need to scale?Ultimately, Nicolas makes the case for looking beyond the individual investment and thinking about additionality at the level of the market itself, asking not only where capital can create impact, but how investors can help make impact investing more investable, scalable, and resilient as an asset class.This special playlist is developed in partnership with ChangeNOW. It brings together conversations with fund managers who presented on stage during Funds for Change, and with investors, operators, and thinkers navigating the tensions of impact, climate, and finance.Key topics:Dedicated impact investors need strong mission and cultural alignmentImpact secondaries can unlock liquidity and attract new investorsPatient capital helps impactful companies scale without premature exitsCatalytic investors should help build scalable impact marketsEpisode breakdown:Intro - 00:00:00Welcome - 00:02:00Origin & Perspective - 00:03:32Contrarian Thoughts: 00:37:07Flash Round - 00:39:15Follow us on: https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff

Today, I’m joined by Astrid Leyssens, founder of We Are Impact Collective, where she mentors, advises, and supports wealth holders, investors, and pioneers on their impact journeys.At We Are Impact Collective, Astrid works at the intersection of impact investing, systemic change, and collaborative innovation, helping individuals, family offices, and organizations turn ambition into actionable strategies. Through initiatives like Impact Into Play and the Explorers Club, she creates spaces for new ideas, unconventional collaborations, and long-term thinking around capital and transformation.As a seasoned board and investment committee member, Astrid brings a strong systems perspective to how capital is deployed — bridging philanthropy, sustainable finance, and business strategy to help drive meaningful social and environmental progress.This special playlist is developed in partnership with ChangeNOW. It brings together conversations with fund managers who presented on stage during Funds for Change, and with investors, operators, and thinkers navigating the tensions of impact, climate, and finance.Key topics:Investors as bridges, not permanent owners or controllersUrgency, long-term thinking, and differentiated investment timelinesWealth holders collaborating to accelerate systemic capital allocationRethinking wealth, legitimacy, participation, and the meaning of enoughEpisode breakdown:Intro - 00:00:00Welcome - 00:01:24Origin & Perspective - 00:02:54Flash Round - 00:32:01Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff

Today, we are joined by Suzanne Rosman, a business development professional currently working at PYM, bringing international experience across startups and corporates.Suzanne’s work spans business development and organisational operations within the impact investing space, shaped by experience working with funds and navigating different investment and operating environments.Alongside her professional work, she is deeply engaged in themes such as female entrepreneurship, impact investing, and emerging ecosystems, including LATAM startups and Web3 communities. Her perspective is also shaped by a curiosity for learning across geographies and cultures, with personal ties to Colombia and New Zealand, and a strong focus on people, connection, and continuous learning through experience.This special playlist is developed in partnership with ChangeNOW. It brings together conversations with fund managers who presented on stage during Funds for Change, and with investors, operators, and thinkers navigating the tensions of impact, climate, and finance.Key topics:Impact investing as a learning journey, not simply a financial product. Peer-to-peer relationships can reduce fear and unlock capital. Private wealth should flow towards solutions society needs. Investors need to confront the cost of inaction. Episode breakdown:Intro - 00:00:00Welcome - 00:01:51Origin & Perspective - 00:03:39Contrarian Thoughts - 00:33:40Flash Round - 00:38:10Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff

Today I'm joined by Suzanne Rosman, a business development professional currently working at PYM, bringing international experience across startups and corporates. Suzanne's work spans business development and organizational operations within the impact investing space, shaped by experience working with funds and navigating different investment and operating environment.Alongside her professional work, she's deeply engaged in themes such as female entrepreneurship, impact investing in emerging ecosystems, including LATAM startups and Web3 communities. Her perspective is also shaped by curiosity for learning across geographies and cultures, with personal ties to Colombia and New Zealand, and a strong focus on people, connection, and continuous learning through experience.This special playlist is developed in partnership with ChangeNOW. It brings together conversations with fund managers who presented on stage during Funds for Change, and with investors, operators, and thinkers navigating the tensions of impact, climate, and finance.

Today, I'm joined by James Burrows and Philipp Essl, managing directors at Better Society Capital. At BSC, James currently looks after the social lending team which includes work on blended finance, ethical banks, and social outcomes partnerships. He explores how capital can better connect with communities. He's also building out the practice looking at investing for more transformative systems change. Philipp focuses on social impact measurement and management across Better Society Capital's investment process and portfolio.He's passionate about using impact strategy and evidence to drive social investment decisions and tackle pressing social challenges. Together, their work reflects a broader effort to rethink how finance can support resilient communities and more equitable economic systems. Key points:Why relationships shape resilient systemsHow place brings systems investing to lifeWhy urgency requires reflection, not reactionHow trust enables transformational investingEpisode breakdown:Intro - 00:00:00Welcome - 00:01:43Origin & Perspective - 00:03:07Tensions - 00:33:33Flash Round - 00:40:10Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff