Systemic Investing to Tackle the US Food Waste Challenge - The Fink Family and ReFED

Abstract

This case study presents an example of a systemic investing approach, charting the Fink family's and ReFED’s transformative journey in US food waste reduction. It commences with the Finks’ establishment of Millstone Farm, initial philanthropic grants, and private investments as they probe into the complex food system in the United States. It documents how the mantra of “big tent” - building an inclusive ecosystem around an ignored issue - helped weave the necessary social fabric for the change to evolve. ReFED, a backbone organization armed with data infrastructure, emerged as a critical player in empowering the stakeholders, including investors, to take action. The mobilization of human capital and financial capital changed the food waste landscape significantly. This case highlights different levels of capital allocation with a systems lens, showcasing the many roles an investor can play to facilitate systems change.

Keywords: Systemic Investing, Investing for Systems Change, Systems Capital, Food Waste, Backbone Organization, Funder Collaborative, Impact Investing, Sustainable Finance