Key Takeaways
- • A Dartmouth Tuck School of Business student completed dual internships at Impact First Investments and Pitango Venture Capital during summer 2019, combining impact investing methodology development with traditional venture capital evaluation.
- • Impact First Investments, led by Founder and Managing Director Cecile Blilious (characterized as the "mother" of impact investing in Israel), focused on quantitative impact measurement frameworks for technology startups across healthcare, circular economy, and environmental sectors.
- • Pitango Venture Capital, Israel's largest VC fund with $2 billion in assets under management, engaged the intern in AgTech upstream sector analysis and startup evaluation, representing a major institutional presence in the Israeli venture ecosystem.
- • The internship produced a collaborative output: development of a quantitative methodology to measure financial and social/environmental impact of tech startups, with plans to make resources available globally through a new organization called the ImpacTech Alliance.
- • Both mentors—Cecile Blilious and Pitango Partner Idit Muallem—are recognized as senior female leaders in the Israeli venture capital industry, signaling institutional commitment to leadership diversity in the sector.
Summary
A Dartmouth Tuck School of Business student undertook dual internships during summer 2019 at two prominent Israeli venture capital firms, gaining exposure to both impact-focused investing and mainstream venture capital operations. The dual placement at Impact First Investments and Pitango Venture Capital provided comprehensive exposure to the Israeli venture ecosystem while contributing substantively to impact measurement methodology development.
At Impact First Investments, the student worked under Cecile Blilious, founder and managing director, to develop quantitative frameworks for measuring both financial and social/environmental impact of technology startups. The team created and applied a methodology inspired by industry best practices and guidance from organizations including Bridges Israel and 2B-Community. Work spanned the full venture capital workflow: conference presentations on impact investing, deal sourcing and screening, startup evaluation in healthcare, circular economy, and environmental sectors, and strategic planning for traditional venture capital firms transitioning into impact technology investing.
At Pitango Venture Capital, Israel's largest venture capital fund with $2 billion in assets, the intern evaluated startups in the AgTech upstream sector under Partner Idit Muallem. This role provided direct exposure to traditional venture capital deal evaluation and sector-specific investment analysis, complementing the impact measurement work at Impact First.
The internship experience culminated in a collaborative initiative: developing resources and methodologies for impact technology investing that would be made available globally through the ImpacTech Alliance, a new organization in development at the time. Both mentors—Blilious and Muallem—are characterized as exemplary female leaders navigating the venture capital industry, representing institutional recognition of women's leadership in technology investing.
At Impact First Investments, the student worked under Cecile Blilious, founder and managing director, to develop quantitative frameworks for measuring both financial and social/environmental impact of technology startups. The team created and applied a methodology inspired by industry best practices and guidance from organizations including Bridges Israel and 2B-Community. Work spanned the full venture capital workflow: conference presentations on impact investing, deal sourcing and screening, startup evaluation in healthcare, circular economy, and environmental sectors, and strategic planning for traditional venture capital firms transitioning into impact technology investing.
At Pitango Venture Capital, Israel's largest venture capital fund with $2 billion in assets, the intern evaluated startups in the AgTech upstream sector under Partner Idit Muallem. This role provided direct exposure to traditional venture capital deal evaluation and sector-specific investment analysis, complementing the impact measurement work at Impact First.
The internship experience culminated in a collaborative initiative: developing resources and methodologies for impact technology investing that would be made available globally through the ImpacTech Alliance, a new organization in development at the time. Both mentors—Blilious and Muallem—are characterized as exemplary female leaders navigating the venture capital industry, representing institutional recognition of women's leadership in technology investing.
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