TrustLaw Training: Social Enterprise and Impact Investing

December 2, 2019 | December 3, 2019
Cooley LLP, 55 Hudson Yards, New York, NY 10001

Date & Time

  • December 2, 2019
    8:15am - 01:15pm
  • December 3, 2019
    8:15am - 02:45pm


  • Cooley LLP, 55 Hudson Yards, New York, NY 10001

On December 2nd and 3rd, 2019, the TrustLaw team and social innovation experts will run a two half-day training on Social Enterprise and Impact Investing in New York City.

This course will explore key legal issues and trends in the social innovation space and provide lawyers and other professionals with the skills they need to advise different stakeholders in the sector. It is a first-of-its-kind course to combine hands-on legal training with practical case studies and excellent networking opportunities.

Upon completion of the training, participants should be able to:

  • Understand the shape of the social economy in the U.S. and how the U.S. has positioned itself as a leading player in this space globally.
  • Advise on the appropriate business structure for different social enterprises and on different mechanisms to lock social mission into business activities.
  • Recognize the key legal issues facing social entrepreneurs to help ensure agreements and commercial documentation reflect the financial and social realities of this rapidly growing sector.
  • Have a clear understanding of innovative tools and mechanisms used to inject capital into socially focused businesses, including social impact bonds, crowdfunding and impact investment funds.
  • Design and structure investment transactions using innovative impact terms and approaches to align investors with varying financial return and impact objectives.

Participants will become part of a community of practice that facilitates the sharing of lessons learned and best practices in the realm of social entrepreneurship and impact investing. Additionally, upon completion of the course, attendees may be given the opportunity to participate in related pro bono projects through TrustLaw, enabling them to apply the skills and knowledge gained to real-life matters.


Full Pricing:

One half-day - $250 | Full Course/two half-days - $400

Group discounts are available. NGOs and social enterprises are entitled to a reduced rate.

Breakfast, lunch, and drinks reception included. For more information, please contact Shiura Rasheed.

The cost of the course goes to support the work of the Thomson Reuters Foundation’s global pro bono service, TrustLaw, which connects the world’s leading legal teams to provide free legal assistance to NGOs and social enterprises working for social and environmental change.


  • Social Enterprise

    The first half-day of the course is designed to provide participants with a big picture market overview of the social enterprise space in the United States and beyond. Three topics, ranging in format from lectures to interactive workshops, will give attendees a thorough overview of the market, structuring options, and the key legal challenges that arise for lawyers and other professionals serving this space. Breakfast and lunch will be provided. 

    8:15 – 8:45 | Registration & Breakfast

    8:45 – 9:10 | Opening Address: State of the Social Enterprise Sector

    A market overview of the social enterprise sector in the U.S. and beyond, including definitions of social enterprise, key terminology and key debates.

    Speaker: Valeria Budinich, Leadership Group Member, Ashoka

    9:10 – 9:30 | Lecture: Structuring Social Enterprises and Protecting Social Mission

    Understand the range of different structures available to social enterprises and the practical advantages and challenges of each. This session will also discuss protecting the social mission of "profit with purpose" businesses and the different legal mechanisms to lock in social purpose.

    Speaker: Jesse Finfrock, Attorney, Morrison & Foerster LLP

    9:30 – 9:45 | Networking Break

    9:45 – 10:45 | Panel: Where Mission Meets Form: What Legal Structures Social Entrepreneurs Choose and Why

    A panel discussion that will provide insight into different legal structures chosen by social entrepreneurs and the impact it has on achieving social mission, to separate the hype from the practical utility of the new forms.

    Moderator: Jesse Finfrock, Attorney, Morrison & Foerster LLP

    Speakers: Allen Bromberger, Founding Partner, Bromberger Law; William Clark, Partner, Drinker Biddle & Reath LLP; Dana Brakman Reiser, Professor of Law, Brooklyn Law School

    10:45 – 12:00 | Workshop – Structuring & Locking in Social Mission

    This interactive session will build on the previous sessions, and allow participants to practice advising social entrepreneurs on the right structure and how to lock in social mission based on case studies.

    Social entrepreneurs: Nell Derick Debevoise, Founder and CEO, Inspiring Capital; Travis Feldler, Founder and CEO, TechRow Fund; Seungah Jeong, CEO & Co-Founder, Mpowerd, Inc.; John Salzinger, Co-Founder, Mpowerd, Inc. 

    Legal Advisors: Allen Bromberger, Founding Partner, Bromberger Law; Jesse Finfrock, Attorney, Morrison & Foerster LLP; Dana Brakman Reiser, Professor of Law, Brooklyn Law School

    12:00 – 12:15 | Networking Break

    Lunch service offered outside of training room.

    12:15 – 1:15 | Interactive Panel: Through the Eyes of a Social Entrepreneur

    Overview of the key legal challenges faced by new social businesses including shareholder agreements, intellectual property, privacy policies, and employee issues. The session will include an interactive panel in which featured social enterprises will share practical lessons about real-life legal issues encountered.

    Moderator: Carolina Henriquez-Schmitz, Founding Executive Director, Grunin Center for Law and Social Entrepreneurship at NYU School of Law

    Speakers: Hector Armstrong, COO, Align17; Karl Carter, CEO, Snake Nation; Josuel Plasencia, Co-Founder & COO, Forefront Cultures Inc. 

  • Impact Investing

    The second half-day of the course will deep dive into the social finance space, bringing the legal perspective to topics including impact investment fund structures, innovative financing mechanisms and structuring investments for impact. Breakfast and lunch will be provided. 

    8:15 – 8:45 | Registration & Breakfast

    8:45 – 9:10 | Opening Address: State of the Social Finance Sector

    A market overview of the social investment space in the U.S., covering facts and figures on the size of the market, review of the "big players", and identification of key gaps, challenges and opportunities to move the market forward.

    Speaker: Patrick Briaud, Head of Impact Investing, Rockefeller Philanthropy Advisors

    9:10 – 9:30 | Lecture: Impact Investing and Impact Investment Funds

    Lecture on the legal structuring of social impact funds and how the differing needs and requirements of social investors are reflected in a fund.

    Speaker: Todd Johnson, Founder and CEO, iPar Impact

    9:30 – 9:45 | Networking Break

    9:45 – 10:45 | Panel: Structuring Impact Investments and Impact Terms

    Key fund managers and legal experts discuss how they structure their funds, and how to strike the right balance between social and financial returns. The session will explore the innovative investment terms and alternative structures they use to create more impact and better returns.

    Moderator: Todd Johnson, Founder and CEO, iPar Impact

    Speakers: Ginny Reyes Llamzon, Associate General Counsel, Global Innovation Fund; Perry Teicher, Impact Finance & Investment Attorney, Orrick; Brian Trelstad, Partner, Bridges Fund Management Ltd

    10:45 – 12:00 | Workshop: Investment Terms - Structuring for Impact

    Interactive workshop where participants will practice drafting a custom financing term sheet designed to preserve social mission and will advise social impact companies and impact investors on how to strike the right balance between social and financial returns.

    Advisors: Jeff Seul, Partner, Holland & Knight; David Surbeck, Partner, Holland & Knight; Perry Teicher, Impact Finance & Investment Attorney, Orrick

    12:00 – 12:15 | Networking Break

    12:15 – 1:15 | Discussion: Innovative Financing Models

    A broad look at innovative finance mechanisms that mobilize private sector capital in new and more efficient ways to deliver positive social, economic, and environmental outcomes. The session will also discuss gaps in the market and explore future perspectives on the space.

    Moderator: Jonathan Ng, Attorney Advisor, Office of the General Counsel, USAID 

    Speakers: Caleb Ballou, Associate Principal, Innovative Finance, The Rockefeller Foundation; Tamim Bazzi, Attorney, Cooley; Lauren Hendricks, EVP for Program Strategy and Institutional Relations, Grameen Foundation

    1:15 – 1:30 | Networking Break

    Lunch service offered outside of training room.

    1:30 – 2:45 | Closing Panel: Gender Lens Investing – State of the Field

    Panel where leading experts will share an overview of the field of Gender Lens Investing and share with participants how gender-smart investing can drive systemic change. The session will share insights into how business experts and other organisations have been working to put gender smart investing to practice.

    Moderator: Christina Madden, Director of Engagement, Criterion Institute

    Speakers: Rebecca Fries, Managing Director, Co-Founder, and Board Member, Value for Women; Irina Marinescu, Associate, Corporate Department, Paul Hastings; Leigh Moran, Strategy Director, Calvert Impact Capital; Laura LaRosa, Executive Director of Client Development, Glenmede

  • Testimonials

    "I really enjoyed the mix of law and non law materials, and the interactive workshops" Soumya Rao, Herbert Smith Freehills LLP

    "I attended the Impact Investment training day and found it to be informative, clear and well-delivered. The sessions gave me quite a few ideas for new pro bono projects that might be developed for our lawyers" Sophie Orr, White & Case LLP

    "The sessions were very thorough and backed up by documentation which is of course useful for recalling the detail" Soraya Mir, The Fred Hollows Foundation

    "Pooling together such a diverse group of perspectives - from practitioners to legal experts - brought a unique set of discussions to the table" Alex Christopoulos, Stars Foundation

    "Great topic, some passionate and very knowledgeable speakers, it was nice to put a face to TrustLaw too" Emma Quinn, Brown Rudnick LLP

    "Meeting and interacting with lawyers and other leaders in their fields who are passionate about social enterprises and impact investing" Anonymous

    "The clarity of the speakers in providing general overviews of concepts that were relatively new to me."  Anonymous


  • Valeria Budinich

    Leadership Group Member, Ashoka
  • Patrick Briaud

    Head of Impact Investing, Rockefeller Philanthropy Advisors
  • Carolina Henriquez-Schmitz

    Director, TrustLaw
  • William Clark

    Partner, Drinker, Biddle & Reath LLP
  • R. Todd Johnson

    Founder & CEO, iPar
  • Lauren Hendricks

    EVP, Program Strategy and Institutional Relations, Grameen Foundation
  • Jesse Finfrock

    Attorney, Morrison & Foerster LLP
  • Ginny Reyes Llamzon

    Associate General Counsel, Global Innovation Fund
  • Dana Brakman Reiser

    Professor of Law, Brooklyn Law School
  • Allen Bromberger

    Founding Partner, Bromberger Law
  • Leigh Moran

    Strategy Director, Calvert Impact Capital
  • Brian Trelstad

    Partner, Bridges Fund Management
  • Jonathan Ng

    Attorney Advisor, USAID
  • Christina Madden

    Director of Engagement, Criterion Institute
  • Caleb Ballou

    Associate Principal, Innovative Finance, The Rockefeller Foundation
  • Laura LaRosa

    Executive Director of Client Development, Glenmede
  • Josuel Plasencia

    Co-Founder & COO, Forefront Cultures Inc.
  • Irina Marinescu

    Associate, Corporate Department, Paul Hastings
  • Perry Teicher

    Impact Finance Attorney, Orrick
  • Rebecca Fries

    Managing Director & Co-Founder, Value for Women
  • Tamim Bazzi

    Attorney, Cooley
  • Nell Derick Debevoise

    Founder & CEO, Inspiring Capital
  • Jeff Seul

    Partner, Holland & Knight
  • Seungah Jeong

    President & CEO, Mpowerd, Inc.
  • David Surbeck

    Partner, Holland & Knight
  • Karl Carter

    CEO, Snake Nation
  • John Salzinger

    Co-Founder, Mpowerd, Inc.
  • Travis Feldler

    Founder, TechRow Fund
  • Hector Armstrong

    Chief Operating Officer, Align17


  • The Grunin Center for Law and Social Entrepreneurship —the first center of its kind at a law school—is an emerging global leader in the field of law and social entrepreneurship. The Grunin Center is advancing a global movement that creates new ways for law and lawyers to drive positive change in the world.

    The mission of the Grunin Center is to enhance the community of lawyers and legal institutions engaged in social entrepreneurship and impact investing and to accelerate their effective participation in these fields. To fulfill this mission, the Grunin Center educates students and practicing lawyers about legal issues in social entrepreneurship and impact investing; disseminates knowledge, resources and research about legal issues and policy developments in these fields; and collaborates with other field-building organizations, universities and research centers. 

  • Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law. Cooley has 1,000+ lawyers across 15 offices in the United States, Asia and Europe

  • Orrick was the first global law firm to establish an Impact Finance & Social Enterprise practice and is proud to be advising a broad range of innovative investors, companies and government parties in this rapidly emerging space. Our Impact Finance & Social Enterprise team, located in our offices throughout the U.S, Europe, Africa, and Asia, provides a wide range of legal services to clients seeking to achieve positive social and environmental impact alongside financial returns.

    We serve as counsel to impact investment funds, assist social enterprises (including hybrids and newly authorized corporate forms such as the benefit corporation) with formation and financing, and advise foundations, governments, multilateral organizations, NGOs and intermediaries in domestic and cross-border transactions. As demand for impact investment opportunities continues to grow, so too has our expertise and capacity to represent and advise clients on these cutting edge transactions and business ventures.

    We were the first global law firm to become a member of the GIIN, and we have been recognized by the Financial Times for our Impact Finance practice and as one of the Top 10 Most Innovative North American Law Firms for the past five consecutive years. We pride ourselves on our ability to assist clients in finding solutions to the unique and complex legal issues that arise in the impact investing and social enterprise context.

  • Holland & Knight is a global law firm with more than 1,200 lawyers and other professionals in 28 offices throughout the United States, Mexico, Columbia and the United Kingdom. Our lawyers provide representation in litigation, business, real estate and governmental law.

    Holland & Knight has a long tradition of public service. The firm's commitment to pro bono work and community service was led by the late Chesterfield Smith, the firm's founder and chairman emeritus. Holland & Knight's Public and Charitable Service Department integrates the firm’s global pro bono, community service and charitable giving initiatives to make deep investments in communities in need.

    Our signature efforts include a focus on Veterans and the Military, Social Entrepreneurship, Civil Rights, Human Rights and Children and Education. Our firm is proud to provide legal, organizational and financial assistance to these positive forces for social change. To learn more, please visit:

  • For over two decades, Morrison & Foerster has cultivated a cutting-edge legal practice supporting social enterprises, mainstream companies aiming to make an impact, and the full range of impact investors.

    We regularly advise social enterprises as they structure their companies to maximize impact and guide all types of impact investors – from those that focus on impact first to those that prioritize returns while striving for impact –in structuring funds and investments.

    Our attorneys drafted the first new corporate form, California’s Social Purpose Corporation (SPC), now also the Public Benefit Corporation (PBC) in Delaware, and have been on the forefront of the movement toward integrated reporting to ensure that ESG factors are measured and reported to investors in the same way as financial returns.

    Our team shares a dedication to impactful change and work closely with clients to align social and environmental considerations with smart business strategies.


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