For the past few years, Derrick Morgan, a former Tennessee Titan, has been using his investment dollars a bit different than most. Morgan entered into the impact investing world, putting his money to work for a portfolio of social justice startups. His investments include community investment platform CNote, tech ecosystem Bitwise Industries, affordable housing financier Community Housing Capital, and a production company for people of color, Macro.
Recently, Morgan launched his own fund - KNGDM Impact Fund - to mobilize resources for Opportunity Zones investments in several cities across the country. His mission is to promote ownership, empowerment, and upward mobility in what he calls underestimated communities. The KNGDM Impact Fund will operate in Nashville, where he formerly played, Atlanta, where he went to college, Coatesville, his hometown, and Austin, where his business partner lives. According to Morgan, “the types of projects we’re doing, they’re going to change the whole market."
Why We Like It
Impact investing isn't something that many people are familiar with, yet, the concept is simple and effective. Investing in companies with a double or triple bottom line, in other words, investing in companies with positive social and/or environmental impact, is a powerful way to put one's resources to good use. It is certainly a fairly new phenomenon in the professional sports world, and Derrick Morgan is leading out. Granted, many athletes are exploring their lives and legacies outside of the lines, and many have and continue to invest in and build companies. Still, impact investing remains a ripe opportunity for current and former players. We hope to see more of this type of philanthropy from professional teams and players.
Philanthropy Playmakers is a sports philanthropy consulting firm that advises non-profits, athletes and foundations. Our core competencies include fundraising strategy, strategic planning, marketing, and communications at the intersection of sports and philanthropy. To learn more, contact us.