I’m going to start putting down my ideas, and Tom’s, and Shaun’s and others, about the long term fund we are creating, focusing on Southern Appalachia with a wing, hopefully, in Mexico, Central America and the Andean region.

We are looking for systemic inflection points, in, for example, forestry, forest products and agroforestry, where we can invest in businesses with growth potential, either scalable or replicable, that can do well on the balance sheet but that have a massive positive effect on the commons; what other people call having an impact, but I think impact is shared, so I don’t just want to count the impact of our own investment, but what it does to the system, and how it helps other players, partners, and all stakeholders. To try to narrowly measure just our fund’s impact is to be both myopic and restrictive of the resources that can be brought to bear. We will only have a limited amount of capital, and we want to engage deeply with the companies we invest in, so we will need to reserve a lot for followon investments, and capacity investments that pay off over the long term. We only plan to exit, if we can pull this off, when we should, not at a set time limit as a typical venture fund does.