Volume 91: Beyond the Balance Sheet: Fueling Local, Diverse Entrepreneurship
About ImpactPHL Perspectives:
ImpactPHL Perspectives is a multi-part content series that explores the many facets of the impact economy in Greater Philadelphia from the perspectives of its doers, movers, shakers, and agents of change. Each volume is written directly by a leader in this space to discuss best practices and share lessons learned while challenging our assumptions about financial and impact returns. For more thought leadership like this, check out the full catalog of ImpactPHL Perspectives.
Dermot Murphy, Director, OptImpact
In the world of venture capital and angel investing, the familiar story often focuses on financial gains: the hunt for huge profits, the next unicorn, and the growth of personal wealth. Laura Kind McKenna’s approach is different. Her recent investment in Naturaz, a growing company founded by Mumbi Dunjwa and based just outside Philadelphia, is motivated by a deeper, community-focused purpose: the urgent need to direct capital to entrepreneurs who need it most and, in the process, create a stronger, fairer local economy.
McKenna's investment thesis is clear and purposeful. "I feel very deeply that there is not enough capital available to entrepreneurs of color," she states. "When I encountered Naturaz - a promising venture led by a talented, scientifically-minded founder like Mumbi - I was inspired not only by its potential but also by its commitment to the region. The decision to establish and maintain its headquarters right here means fostering local employment and maintaining economic vitality within our community. That is a powerful multiplier effect."
This investment is a deliberate decision to utilize capital for social benefit. While many in the impact space talk about "doing well by doing good," McKenna explains a subtle but important difference.
“It's a philosophical approach. I am less concerned with using my capital solely to earn more capital and am far more focused on the need for a broader, more communal distribution of wealth.”
"My primary motivation is to do more good with my money," she explains. "It's a philosophical approach. I am less concerned with using my capital solely to earn more capital and am far more focused on the need for a broader, more communal distribution of wealth. There's an incredible amount of resource hoarding happening at a time when so many are struggling. I believe our entire community rises when those of us with means actively choose to deploy capital into ventures that generate real, local impact."
This isn't philanthropy; it's a strategic investment of funds with a realistic view of the market. McKenna recognizes the high-risk nature of early-stage investing, particularly in ventures that focus on both significant community impact and revenue generation. "The batting average for direct investments reaching substantial revenue stages is notoriously low, and many impact investments fall into the same category. This doesn't discourage me because my success isn't solely measured by financial returns. It's about confirming a founder's vision and supporting their growth path."
The founder at the heart of this investment, Mumbi Dunjwa, embodies this thesis. Naturaz, her company, creates effective, accessible personal care products rooted in natural ingredients and scientific innovation. Its impact is multi-faceted: promoting healthier lifestyles through non-toxic alternatives, prioritizing sustainable sourcing, and embodying economic empowerment as a Black-owned business committed to creating quality local employment in the Philadelphia region. With a strong scientific background and this innovative approach, Dunjwa represents the exact type of undervalued talent McKenna seeks to empower. The investment is a bet on her ability, her vision, and her commitment to the Philadelphia area.
“McKenna urges fellow investors to explore this and similar opportunities and carefully evaluate what they value most in their portfolios.”
Ultimately, this place-based connection highlights a key theme in the changing landscape of impact investing. It's about broadening the definition of "return" to include the health of our local ecosystem. It shows that investors like Laura Kind McKenna believe true wealth isn't just about a bigger financial cushion - it's about building a more resilient, inclusive, and thriving community for everyone.
"This is about proving that capital can be a force for good," McKenna concludes. "It's an opportunity to help a remarkable founder like Mumbi Dunjwa get Naturaz to the next level and, in doing so, help our entire community grow alongside her."
Motivated by this belief, Laura Kind McKenna invested in Naturaz. She views this not just as a one-time deal, but as part of a broader effort to transform the local investment landscape.
For other accredited investors inspired by this approach who want to see how their capital can create meaningful change, this opportunity is still available for consideration. The detailed profile for Naturaz, including its business model, business highlights, and impact thesis, can be reviewed on ImpactPHL's Optimpact platform.
Community-focused investing provides the vital capital needed to empower local, diverse entrepreneurs to succeed, demonstrating that our region's strength relies on inclusive growth. McKenna urges fellow investors to explore this and similar opportunities and carefully evaluate what they value most in their portfolios.
Dermot Murphy, Program Director of OptImpact, leads the development and execution of the OptImpact system, a cutting-edge initiative aimed at harnessing technology and innovation for sustainable social impact. Dermot has over 10 years of experience in impact investing and grant-making while leading Halloran Philanthropies' Mid-Atlantic grant and Impact Investments program. He committed catalytic capital in the form of patient, flexible, and risk-tolerant investments. The majority of these investments focused on community development, climate solutions, social entrepreneurship, financial inclusion, and social innovation.