Jean De Fougerolles - Poverty Premium Eradication: Investing, Technology, Community & Collaboration

Episode 22, Oct 29, 2019, 09:47 AM

Jean de Fougerolles, founder and managing partner of Ascension Ventures, an early stage VC. In 2018, Jean launched Fair By Design, a Social Impact Fund focused on reducing poverty in the UK.

Highlights:

The poverty premium where people in low income pay more than people that are better off. In the UK, 20% of households pay on average £490 more a year for the same services than other people.
Fir By Design is supporting new startups or social enterprises trying to make markets fairer by not overcharging low income households
The Fair By Design Fund and the Fair By Design Campaign
Jean’s story of going full circle from being an economist in a Think Tank in New York to becoming an entrepreneur and then an impact investor.
The Fair by Design Roadshow is visiting cities across the UK (Oldham, Bristol, Glasgow) to bring different groups together including credit unions, housing associations, local government and local press.
Fair by Design is very interested in all areas of social impact where poverty premium lurks including food, poverty, transport, insurance.
How to pick the best companies and examples of funded startups including Emergent, Minibems, Switchee, Wage Steam and Incuto
Their next project is The Learn Fund, a new fund focused on the future of work

Time stamp:

[01:18] Who is Jean de Fourgerolles?

[03:03] What is impact investing?

[07:31] Payday lending and the consequences of paying the poverty premium

[12:40] Co-investing with Finance Birmingham

[16:17] Starting in digital media and moving into deeper tech, AI and blockchain

[16:55] Recommendation to someone who is starting an impact fund

[19:43] Switchee

[21:21] Wage Stream

[24:01] Incuto

[27:56] Recommendations for Impact Founders
[28:15] Non-equity investments such as loans to charities and CICs

[31:13] The Learn Fund