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Thrivent Charitable
Impact Fund™:
Empower lasting change
How can you do more for your communities, causes you cherish and for others? As your giving partner, we want to help you fulfill your hope to spread joy. Through our Impact Fund we have curated a selection of investments to support greater resiliency and quality of life for all by generating net positive social and environmental impact.
Fund overview
Our Impact Fund is actively managed and globally diversified for donors seeking a competitive financial return alongside net positive social and environmental impacts over the long term. The fund has exposure to public and private assets.
  • Fund manager: Cambridge Associates
  • Asset allocation: 80/20 equity/fixed income
  • Expense ratio: 0.77%
  • Inception date: April 1, 2024
  • Time horizon: 7 or more years
Learn more about this fund from the monthly performance report, fact sheet, and download our brochure.

Case studies

The objectives of this fund are to support greater resiliency and quality of life for all by generating net positive social and environment impact through its investments and outperform the "market" (defined as simple 80/20 stock/bond portfolio).
These case studies are examples of investments that may be included in the fund.
Innovation:
Material Impact Partners
Material Impact Partners is a Boston-based venture capital firm founded in 2015 investing in early-stage companies using material science and technology to address societal needs. Its investments span areas including sustainable manufacturing, food and water, healthcare, and other emerging technologies. The Impact Fund is invested in Material Impact Fund II & III.

One example of Material Impact's strategy in action is its investment in Ripple Foods, a Certified B Corporation that harnesses the protein of the yellow pea to create sustainable, plant-based milks, shakes, and half & half. Yellow peas require less water to grow than almonds or dairy and add nitrogen back into the soil. Ripple’s products produce 80% less CO2 than dairy milk, while offering eight times the protein of almond milk and 50% more calcium than 2% dairy milk. Ripple Foods highlights how Material Impact's invests in innovative solutions designed to address environmental challenges while creating better products for consumers.
Sustainability:
North Sky Capital
North Sky Capital is a Minnesota-based private equity firm founded in 2000, specializing in impact secondaries across clean technology and infrastructure. The Impact Fund recently invested $2.0M in North Sky’s Clean Growth Fund VII, which provides diversified exposure to more than 150 underlying companies through a strategy known as “secondaries,” or purchasing existing stakes in private equity funds. Through its investment strategy, North Sky provides exposure to companies addressing environmental and social needs, including clean energy, the circular economy, climate adaptation, healthy living, and financial inclusion.

Past North Sky investments illustrate what this looks like in practice: Ecore is a global leader in transforming rubber waste into performance products and surfaces used across sports and recreation, fitness, healthcare, commercial interiors, and industrial markets. By diverting rubber waste from landfills and giving it new life as high-performance materials, Ecore highlights the Clean Growth circular economy theme.
Healthcare:
1315 Capital
1315 Capital invests in growth equity healthcare companies developing practical products improving patient care and healthcare delivery. The fund focuses on businesses with proven solutions addressing real-world needs across pharmaceutical products and outsourcing, medtech, and health and wellness. By backing companies with established traction, 1315 Capital supports innovation able to scale and deliver meaningful benefits to patients, providers and healthcare systems while pursuing strong financial returns.

A clear example of 1315 Capital’s impact is its investment in Nu-Tek Biosciences, which uses technology, helping make drug development more sustainable and efficient. Another portfolio company, Biocoat, develops specialized coatings for medical devices that reduce friction and improve performance in tools such as catheters and guidewires. Together, these investments demonstrate how 1315 supports healthcare solutions that enhance safety, efficiency and outcomes in everyday clinical settings.
Charitable Investments: Thrivent Charitable Impact Fund

Learn more about the Impact Fund

We believe investing in companies with responsible business practices, a commitment to long-term, sustainable value creation, and embracing the wider demands of all people and the planet we share, will generate outperformance relative to the market over the long term and have a positive impact on the communities in which they operate.
About Cambridge Associates
Since their founding in 1973, Cambridge Associates has been a market leader in building diversified investment portfolios. With 11 offices around the globe and a world-class network of managers, they offer the scale, resources, and networks of a global firm, coupled with the trust, independence, and personal attention of a boutique firm.

With $568 billion in assets under advisement, Cambridge Associates is building a custom portfolio to meet Thrivent Chartiable’s needs and goals, targeting to outperform the market. Their team believes its clients do not have to choose between long-term portfolio returns and positive, real-world impact.
While diversification can help reduce market risk, it does not eliminate it. Diversification does not ensure a profit or protect against loss in a declining market. Investing involves risks, including the possible loss of principal.

Performance results will include Thrivent Charitable administrative fees and may differ from the results of the underlying fund.