Apex Group, a global financial services provider, has been appointmented by BrightEdge LLC, the impact investment and venture capital arm of the American Cancer Society (ACS) to provide fund administration services to the ACS Impact Venture Fund.
BrightEdge invests in for-profit early-stage companies that are developing cutting-edge cancer-focused therapies, diagnostics, devices, and technologies to give all people the opportunity to detect, treat and survive cancer. Financial returns generated from investments will be reinvested in the Fund and/or returned to ACS as a diversified and sustainable source of funding for ACS’ mission of reducing cancer mortality, ending pain and suffering, and advancing health equity.
Apex Group has been awarded a mandate from BrightEdge to provide fund administration services that will enable BrightEdge and the Fund to operate with a robust and efficient servicing model, freeing up resources to focus on deploying capital and generating returns in support of ACS’s impact objectives. As a firm supporter of ACS’s mission, Apex Group has pledged a substantial percentage of the fee revenue received from its role as fund administrator for BrightEdge and the Fund, as an ongoing donation to ACS.
This announcement is the latest in a series of commitments by Apex Group to drive positive change in the communities in which it operates, including the creation of the Apex Foundation, a not-for-profit entity set up by the firm to support charitable initiatives and projects that empower positive change.
Apex Group also recently launched an Impact Positive Solution providing the most comprehensive impact assessment services for the private markets – enabling investors and companies to demonstrate meaningful and measurable positive impacts with integrity, and provision of its single-source solution on a pro bono basis to the innovative philanthropic investment platform, Greater Share.
Peter Hughes, Founder and CEO at Apex Group comments: “With asset allocation to impact investing set to double between 2019 and 2025, the private markets have an important – and growing – role to play in driving positive change. We’re seeing an increasing number of institutions deploying these tried-and-true venture capital and private equity strategies to achieve measurable impact through mission-driven investments that also generate a financial return. We are proud to be appointed by BrightEdge to support its Fund and operations as it continues its important work to defeat cancer and advance health equity for all.”
Georges Archibald (pictured), Chief Innovation Officer and Managing Director, Americas at Apex Group adds: “We are excited to be able to be innovation partners with BrightEdge, supporting leading and new fund structures including the pursuit of impact investing to improve health equity and reduce the disparity of health outcomes.”
Alice L. Pomponio, Managing Director, BrightEdge said: “We are pleased to be working in partnership with Apex Group, which offers the scale and depth of services to evolve with BrightEdge and support our sustainable growth in furtherance of ACS’s mission. The close alignment of our impact visions is reflected in the generous decision to contribute a substantial proportion of fees to the ACS, for which we’d like to thank Peter and the team.”