This post was originally produced for Forbes.
Much of the hype around crowdfunding has frustratingly proved to be so much hot air. The United Nations Global Compact and the U.S. State Department are working to change that by bringing crowdfunding forward to finance projects in the developing world, especially projects designed to address the social problems endemic there.
U.S.-based crowdfunding site Gate Global Impact is partnering with the UN Global Compact to launch Gateway 2.0, a site that will allow members of the UN Global Compact’s Social Enterprise Hub to access capital of from $500,000 to $10 million.
Rosedel Davies-Adewebi, project manager for social enterprise and impact investing at the UN Global Compact, explained that through this innovative partnership the UN Global Compact hopes to advance this form of equity crowdfunding as a new approach to impact investing, addressing gaps in the missing middle of finance and connect capital to impactful businesses addressing critical …