Wharton Impact Venture Associates (WIVA)

Wharton Impact Venture Associates (WIVA) is an experiential education program that gives a cohort of Wharton and Penn graduate and undergraduate students hands-on, real-world experience in impact investing.

The program mirrors typical investment fund activities, and Associates have access and exposure to deals, entrepreneurs, investors, faculty, and other partners. To catalyze cross-disciplinary innovation and investment performance, teams include students from Wharton, Penn Engineering, Penn Law, Penn Medicine, the College of Arts and Science, etc.

Every year, WIVA sources 400+ impactful enterprises. Students are held to the same standard as typical venture capital associates as they source deals and meticulously screen the business and impact models of companies. WIVA students also pitch these companies on a weekly basis to an “investment committee”—other WIVA team members who ask tough questions to assess if the impact investing opportunity is worth pursuing.

After conducting rigorous research on these companies—including frequent contact with the founders—WIVA students connect select enterprises to leading crowdfunding platforms like Netcapital, Republic.co, and Seedinvest. Through connections made by WIVA, companies have received over $2 million in impact investments via crowdfunding platforms.

WIVA targets early-stage, for-profit companies in the United States that combine the promise of market-rate financial returns and meaningful social or environmental impact.

We work with companies that are raising Seed or Series A rounds of financing, and we focus on companies looking for $50,000 to $1,000,000 in investment.

These companies must have at least some of the following characteristics:

1. They help people meet basic needs. They make it possible for all people to gain access to adequate food, clean water, sanitation, shelter, income, and physical security.
2. They create opportunities. They allow individuals to gain access to education, employment, financial services, and other resources that promote economic advancement, autonomy, and security.
3. They increase environmental sustainability. They reduce environmental pollution, combat climate change, and promote the acceptance and use of “green” energy, products, and services.

WIVA’s impact assessment methodology leverages our knowledge of industry best practices and our commitment to an evidence-based approach.

With support from the ESG Initiative’s team of impact professionals, WIVA assesses a company’s impact potential based on research-validated strategies for achieving social and environmental benefits. We work with entrepreneurs to identify key performance indicators related to their company’s impact objectives. We also actively engage with entrepreneurs to ensure financial returns and impact outcomes are maximized.

Questions we ask when assessing impact include:

1. What impact is being created?
2. Who exactly is being helped?
3. How much?
4. Would it have happened anyway?
5. What is the risk/volatility of the impact?
6. What does the evidence suggest about the company’s impact?
7. How strong is the evidence?
8. Is the company prioritizing scale or effect?
9. How is impact tracked?

We are eager to work with current students across the entire University, regardless of your school or year of education. Applications opened on Monday, August 28, 2023 at 12:00 p.m. ET and closed on September 10, 2023 at 11:59 p.m. ET. We also recruit full-time interns for the summer during the spring semester.

Sign up for the ESG Initiative’s email list to be in the loop about upcoming opportunities to join WIVA.

The WIVA team is rigorously trained in industry best practices and leverages the impact investing expertise of the ESG Initiative. We’ve spoken to over 1,000 entrepreneurs, and we understand the complex challenges you might be facing. Reach out and send your pitch deck to wiva-esgi@wharton.upenn.edu.