About

Our mission is to help you realize your mission!

The Impact Terms Project exists to encourage the growth of impact investing around the world by helping people like you learn from and build on the experience of pioneers in the field. Our hope is that ITP becomes a library of real-world knowledge and expertise on structuring impact investments and enterprises. As the field evolves, we hope that ITP expands to accommodate new approaches and lessons learned, and grows more valuable over time.

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Diana Propper De Callejon

Diana co-led the impact terms project as part of her Fellowships with the Aspen Institute Business and Society Program and The Capital Institute. Diana has been an investor in and advisor to sustainability-leading companies for over twenty years. She is a Managing Director at Cranemere, a holding company that takes long-term positions in privately held, mid-market companies. Cranemere’s indefinite ownership horizon allows companies to stay private, preserve their culture and values, and continue their growth and development with a long-term view without the distractions of having to provide an exit. Diana has also served as an advisor on impact investing to family offices and is a Board member of Echoing Green and the Capital Institute. She has an MBA from Harvard Business School and a BA from Duke University.

Bruce Campbell

With over 17 years of experience as a corporate attorney, representing ventures from the smallest startups to Fortune 100 companies, Bruce Campbell brings a true depth of expertise to serve impact investors and entrepreneurs. Since 2009 he has led Blue Dot Advocates, a law firm that assists clients operating in over 20 countries on 6 of the 7 continents. He enjoys working with clients as a partner and a facilitator – representing entrepreneurs, NGOs, and investors in more than $130 million of impact transactions in the last few years. Bruce graduated with honors from the George Washington University Law School and summa cum laude from the University of Pittsburgh.

Steven Winter

Steven enjoys working with others to set up systems that affect social change. At Blue Dot Advocates, this means providing the firm with a technological platform to grow and to expand accessibility to legal solutions for mission-driven enterprises. Steven helped to found a housing cooperative, a food cooperative, and Amicus, a Y Combinator-backed startup that has helped progressive organizations such as GreenPeace, Human Rights Campaign, and AFL-CIO with organizing and outreach. He studied philosophy at Yale University.

Seth Henry

Seth joined Blue Dot Advocates in 2013 to focus his experience as a business lawyer on helping bring market-based solutions to social and environmental problems. He has over 20 years of practice supporting startups, financings, acquisitions and commercial contracts, and was deeply involved in negotiating and drafting the legislation that brought the public benefit corporation to Colorado. Seth has a BA from Oberlin College and a JD from the University of Virginia Law School.

N. Taylor Thompson

Taylor is a social entrepreneur and consultant. In 2007, Taylor co-founded PharmaSecure, a venture- backed social enterprise that uses mobile technology to reduce the sale of counterfeit medicine and increase patient adherence to life-saving medicine. He has also worked as a researcher at Clayton Christensen’s think tank, where he studied commercializing new technology, writes for Harvard Business Review on entrepreneurship and technology strategy, and sits on the board of PharmaSecure and Vera Solutions. Taylor is a 2008 Echoing Green fellow, and he holds an MBA with distinction from Harvard Business School and a BA from Dartmouth College.

Frank Taylor

Frank is a product designer, frontend programmer and social entrepreneur who works for Cloudflare – a cybersecurity & web performance company backed by Google and Microsoft. In 2012, Frank dropped out of his M.A. program at Syracuse University to start Centscere – a social enterprise that automated online donations submitted on Twitter and Facebook. In 2014, the company restructured as Cents, an L3C and certified BCorp and shifted its focus to enterprise software & product development. Since then, Cents has developed 2 major non-profit applications: CentsConnect, a free students-teacher matching service with a chat-based tutoring app and Cents for iOS – a 0% commission crowdfunding application for NGOs. Frank qualified for the U.S. Olympic Trials in 2012 as a student at Syracuse.

Gabi Blumberg

Gabi is Director of Corporate Strategy for JUST Capital. Prior to joining JUST Capital, Gabi worked at the pioneering British impact investing firm, Investing for Good. She also co-authored “The Good Investor,” a book of best practice guidelines for impact investors. Gabi earned her MPA with Distinction from the London School of Economics and a BA in Economics from New York University.

When Diana Propper De Callejon and Bruce Campbell launched ITP in 2015 they had the idea that ITP would facilitate increased social and environmental impact through increased deal flow. ITP would provide accessible and actionable content on emerging impact investing trends and innovations.

They visioned impact investing becoming more mainstream when impact entrepreneurs, investors, and service providers could have a place to share term sheets, case studies; to converse about innovative structures (ownership and investment structures), terms (investment, impact measurement and exits) and impact outcomes; as well as connect as providers and consumers of impact services.

In 2018, Toniic Institute assumed leadership of ITP with a mandate to power it into a free and publicly accessible resource that lowers barriers to entry into impact investing while empowering impact entrepreneurs.


With the support of our funders, we are happy that we have initiated a rebuild of the ITP site to ensure that it can host an easily navigable library of best practice terms, innovations and case studies, be a platform for robust conversation as well as a marketplace for connecting with impact practitioners.


We are happy you are here, we hope ITP inspires you to amplify your impact!

John Berger, Toniic

John Berger, CFA is a finance, strategy and operations professional adept in strategy and entrepreneurship and creating innovative solutions to complex problems with a focus in social enterprise and social capital markets. He has extensive experience evaluating, improving, and financing business models and marketing strategies in a variety of industries.

Prior to his work at Toniic, John was the CFO, COO and co-founder of Her Future Coalition, an international organization that creates empowering opportunities for survivors of gender violence to build an independent, safe and rewarding future. John was also Co-Founder of Relevée Jewelry LLC, a women owned, high margin, fine jewelry social enterprise. At Relevée, he designed and implemented all operations including logistics, ethical sourcing and manufacturing, and completed the series A capital raise for Relevée by creating the Grunin Prize winning investment structure Performance Aligned Stock. John has consulted with social multiple enterprises on business planning, financing, legal structures, strategy and operations. John is a Chartered Financial Analyst. Previous roles include Vice President, Smith Barney; Senior Vice President and Branch Manager, BB&T Capital Markets; Director, Schwab Capital Markets; Vice President, Prudential Securities.

Dario Parziale, Toniic

Dario is a corporate finance professional with international experience in impact investing, deal-flow management, financial accounting, and financial modeling. He joined Toniic in 2013 focused on the analysis of social enterprises, and he is currently responsible for the analysis of investment opportunities and portfolios shifting to 100% Impact.

Prior to Toniic, Dario worked at Ernst & Young as a financial auditor for banks and investment funds. During his time at EY, Dario was involved in credit analysis and in the year-end full audit of six financial institutions. He also participated in an EU-sponsored joint audit project in Portugal, where he led the project finance loan reviews.

He holds a B.Sc. and a M.Sc. in Management from Bocconi University, with a focus on corporate finance, private equity, and investment banking. During his Masters in Management, he participated in a post-graduate research project at FEA USP, in São Paulo, Brazil.

Dario also holds a Master of Social Entrepreneurship from the Hult International Business School in San Francisco. During his time at Hult, Dario was part of the leading team of the Net Impact Chapter, and managed its finances. He also co-founded the Co-Creation Lab, an accelerator program for innovative business ideas; assisting student teams to bring their socially conscious ideas into fruition.

He is passionate about wildlife and environmental issues, as well as social ventures empowering communities at the bottom of the economic pyramid. He lives in San Francisco.

Diana Propper De Callejon

Diana co-led the impact terms project as part of her Fellowships with the Aspen Institute Business and Society Program and The Capital Institute. Diana has been an investor in and advisor to sustainability-leading companies for over twenty years. She is a Managing Director at Cranemere, a holding company that takes long-term positions in privately held, mid-market companies. Cranemere’s indefinite ownership horizon allows companies to stay private, preserve their culture and values, and continue their growth and development with a long-term view without the distractions of having to provide an exit. Diana has also served as an advisor on impact investing to family offices and is a Board member of Echoing Green and the Capital Institute. She has an MBA from Harvard Business School and a BA from Duke University.

Bruce Campbell

With over 17 years of experience as a corporate attorney, representing ventures from the smallest startups to Fortune 100 companies, Bruce Campbell brings a true depth of expertise to serve impact investors and entrepreneurs. Since 2009 he has led Blue Dot Advocates, a law firm that assists clients operating in over 20 countries on 6 of the 7 continents. He enjoys working with clients as a partner and a facilitator – representing entrepreneurs, NGOs, and investors in more than $130 million of impact transactions in the last few years. Bruce graduated with honors from the George Washington University Law School and summa cum laude from the University of Pittsburgh.

Nicholas Glicher

Nicholas Glicher is a director of the TrustLaw service and head of African Programs at the Thomson Reuters Foundation. He has a special focus on social investment and social enterprise and leads TrustLaw initiatives including the Social Enterprise and Impact Investment legal training course and the TrustLaw Index of Pro Bono

Chelsey Ziegler

Prior to joining the MacArthur Foundation, Chelsey was in private practice with the law firm of Horwood Marcus and Berk, specializing in private equity, venture capital, and other corporate matters. Chelsey was also a part of the firm’s Philanthropy, Social Impact and Investment subgroup, where she assisted foundations, family offices and philanthropic individuals on a variety of impact investment transactions

Chris Jurgens

As a director at Omidyar Network, Chris works with the Impact Investing team to advance the industry through field-building efforts, thought leadership initiatives, and investments.  He’s particularly focused on driving innovations to increase the flow of “frontier capital” to early stage enterprises in emerging markets. 

Adam Bendell

Adam, CEO of Toniic,  is an entrepreneur, innovator, mentor of startups and social impact investor.  He joins Toniic from his role as Chief Innovation Officer for FTI Consulting, a publicly-listed consulting firm with offices in 25 countries.  Adam came to FTI when it acquired Strategic Discovery –  a company he co-founded and led as CEO. Previously, Adam served as President of SV Technology, a software startup whose product LawPort was subsequently acquired by Lucidea.