Jacqueline Novogratz, Founder, Acumen FundCharity alone will not end poverty, says Novogratz, an investment banker turned social entrepreneur, who created Acumen, a nonprofit venture fund for social entrepreneurs, in 2001. (Novogratz comes from an enterprising family. Brother Michael is a president at Fortress Investment Group.) The idea is to create new capital markets for the poor.
So far, Acumen has made $27 million in investments in 18 businesses across Asia and Africa. One enterprise offers emergency medical services in Mumbai; another manufactures and sells bed nets in Tanzania to protect against malaria. Novogratz's team works alongside entrepreneurs to help them grow their businesses and meet the needs of their customers - the four billion people who make less than $2 a day.
Last updated January 11 2008: 5:15 PM ET