Franklin Templeton leads blockchain-based social impact platform’s funding round

Proof of Impact, a blockchain-based global marketplace for funding measurable impact outcomes, has announced the closing of its first institutional funding round. The amount raised has not been disclosed.

In a press release, Proof of Impact said that the round was led by asset management firm Franklin Templeton Investments, which manages around $700 billion in assets, and joined by Ausum Ventures, a fund dedicated to blockchain projects with social impact at their core; Crypto Valley Venture Capital “CV VC”, an early-stage blockchain startup fund in Crypto Valley; and Pangea Blockchain fund.

A representative of Franklin Templeton will join the startup’s B.V. board, offering their expertise in blockchain application and impact investing as well as help scale the POI offering globally.

“We are extremely pleased that a global financial institution with extensive emerging market investment product experience and distribution capacity is committed to build the next generation impact investment market with us,” said Proof of Impact co-founder Fleur Heyns.

Founded in 2017, Amsterdam-based Proof of Impact aims to offer liquid impact investment products and investment portfolios supported by blockchain technology to mobilise greater quantities and more diversified capital for proven impact.

Proof of Impact said that the funding will enable it to “continue its fast growth and execute its ambitious goal of securitizing proven impact and bringing proven impact investment products to global capital markets.” Its POI marketplace is slated to launch in The Netherlands in the first quarter of 2020.

Commenting on the investment, said Roger Bayston, Executive Vice President, Director of Quantitative & FinTech Strategies, Franklin Templeton Fixed Income Group, underscored Proof of Impact’s “ability to generate impact content in digital form.” He added:

“Proof of Impact has created an entirely new paradigm for social impact investment and management.”

Earlier in September, Franklin Templeton filed a preliminary prospectus with the U.S. SEC for a government money market fund with the ownership of fund’s shares to be recorded on the Stellar blockchain. Last month, it partnered with wallet provider Curv to protect digital assets for the new fund.

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