Catherine H. Clark, Adjunct Professor and Faculty Director of CASE and CASE i3
Named Social Innovation Thought Leader of the Year 2020 by the Schwab Foundation and World Economic Forum, a B Corporation Champion, and ranked #4 most influential academic in business and society, Cathy Clark has helped define and build the fields of impact investing and business for good for over 30 years. In September 2021 she released a free online course on ESG and impact management for enterprises and investors, Impact Measurement and Management for the SDGs, on Coursera, in partnership with the UN Development Programme. As of April 2023, the course had been accessed by over 19,000 learners.
Cathy has been recognized as a master teacher, serial entrepreneur, collaborative researcher, and pioneering influencer. She has been a faculty member at Duke University’s Fuqua School of Business since 2007 and was previously faculty at Columbia Business School from 2001-2009. At Duke, she serves as Faculty Director at the Center for the Advancement of Social Entrepreneurship (CASE) and as Founding Director of the CASE i3 Initiative on Impact Investing. Founded in 2011, CASE i3 was the first academic initiative at a top MBA program focused on impact investing. Cathy has taught social entrepreneurship and impact investing courses to MBAs continuously since 2001. Since 2012, she has managed an innovative two year fellowship for MBAs in impact investing, the CASE i3 Fellowship, which includes the CASE i3 Consulting Practicum, which matches teams of MBAs with impact investing organizations for college credit, and advises the Fuqua Sustainable Impact Student Investment Fund.
Cathy has designed and taught highly rated education programs for executives as well, including Strengthening Impact Management for investors, which she is currently co-teaching with Mike McCreless of Impact Frontiers, ESG & Impact Management for Enterprises, co-taught with Dan Vermeer of EDGE at Fuqua, and Getting Gender Smart, co-taught with Suzanne Biegel of Catalyst at Large. Participants have included representatives from banks, government, corporations, asset managers, asset owner firms, development finance institutions, community development finance institutions, consulting firms, VC/PE firms, and nonprofits.
At Duke, for nearly a decade she worked with some of the most influential institutions working to support social entrepreneurs to discern needs, challenges and best practices. In partnership with USAID’s Global Development Lab, she served as co-principal of the Social Entrepreneurship Accelerator at Duke (SEAD), a global accelerator working to scale impact of health ventures in India and East Africa. In partnership with the Skoll Foundation, USAID, and MercyCorps, she helped develop CASE’s popular ScalingPathways series , which studied and shared lessons from successful social entrepreneurs.
Cathy is also a field-builder. She has worked for over 30 years to develop impact governance and management in the private sector. In 2001, she taught Columbia Business School’s first course in social entrepreneurship, and as first Faculty Director for the Global Social Venture Competition, created methods for measuring impact by enterprises used by over 50 MBA programs globally. In 2007, she helped translate that activity by co-authoring the first B Impact Assessment for B Corporations, which has been used by over 250,000 companies, including the thousands of companies who are now certified or legally incorporated as B Corporations or public benefit corps, including divisions of Unilever, Danone North America, and Patagonia. In 2013-2014, all of this work expanded significantly in scope; in two years she served as the sole academic member of the G8 Task Force on Social Impact Investing US National Advisory Board, co-authored with Jed Emerson and Ben Thornley the first global study on high performing impact investment funds, and was subsequently invited by the Obama White House Office of Social Innovation and Civic Engagement to study and report on $2.5 billion in new private-sector impact investments.
Cathy gets her ideas into the world in many ways, and fully exploits social media, video-based and Zoom learning, and online platforms. She has written or co-authored over 35 publications, and is a dynamic, sought-after speaker. Her co-authored book, The Impact Investor, reached #18 in finance textbooks on Amazon. Her online training series, CASE Smart Impact Capital, is a professional training series in continuous use since 2017, licensed by over 100 accelerator, government, fund, and university cohorts, and has helped entrepreneurs in 130 countries raise impact investment capital. Her 10 co-authored teaching case studies on high-performing impact funds help students globally understand the success factors for impact funds.
Prior to her academic career, Cathy was an impact investor at Flatiron Partners, a grantmaker and PRI investor at the Markle Foundation, and a policy convener at the Aspen Institute. She remains very involved in corporate and nonprofit boards. She holds an MBA from Columbia Business School and a BA from the University of Virginia, and tweets at @cathyhc. Her full CV with links to hundreds of publications, interviews, and videos is available here.
John M. Buley, Jr., Professor of the Practice and CASE i3 Advisory Board Chair
John M. Buley, Jr. is Professor of the Practice of Finance at Duke University’s Fuqua School of Business, and Advisory Committee Chair of the Center for the Advancement of Social Entrepreneurship Impact Investing Initiative. In 2012, John retired from JP Morgan, where he was Head of Principal Investing for Social Finance. As a unit of JP Morgan’s Investment Bank, the Social Finance Group is responsible for investing JP Morgan’s capital commitment of $100mm in impact investments in the Emerging Markets. Prior, John was Chairman and Head of the Investment Committee of JPM Mezzanine Capital, a proprietary investment strategy focused on subordinated debt and equity co-investment for mid-cap U.S. and European companies. JPM Mezzanine Capital invested over $1bn in over 40 private companies in the U.S. and Europe during his tenure. John has held Board of Director responsibilities or Board observer rights for over 20 private U.S. companies. John started his career as an attorney in the banking practice of White & Case. John earned a J.D. from Temple University and an LL.M in International Taxation from Villanova University. John is a member of the New York Bar and admitted to practice in U.S. District Court for the Southern District of New York.
Carrie Gonnella, Managing Director, CASE
Carrie Gonnella is Managing Director for the CASE. In this position Carrie manages operations, finance, and content for CASE’s educational and research offerings. Carrie has contributed to many of CASE and CASE i3’s significant practitioner-focused projects, such as Impact Measurement and Management for the SDGs online course, the CASE Smart Impact Capital online toolkit, CASE i3’s student fund, CASE i3’s two-year project tracking public commitments related to the US National Advisory Board on Impact Investing, the Social Entrepreneurship Accelerator at Duke (SEAD), and the B Lab and GIIRS research project. Carrie is a Duke alumna who graduated with an MBA from Fuqua and an MEM from the Nicholas School of the Environment in 2013. Carrie’s past work experience includes serving as a Teach for America Corps Member in the Bay Area of California, completing a Climate Corps Fellow with Environmental Defense Fund, and managing the assurance process for certified B Corporations at B Lab. Follow Carrie on Twitter @CarrieGonnella.
Erin Worsham, Executive Director, CASE
Erin is the Executive Director of the award-winning Center for the Advancement of Social Entrepreneurship (CASE) at Duke University’s Fuqua School of Business. CASE is a leader in the field of social innovation, serving as a hub for research, teaching and practitioner engagement. CASE’s work includes premier educational programming, the CASE i3 Initiative on Impact Investing, and the Social Entrepreneurship Accelerator at Duke (SEAD), an accelerator focused on scaling global health ventures in India and East Africa.
In her role at CASE, Erin leads the development and execution of center strategy, establishes relationships with key constituents, oversees operations and programs and contributes to thought leadership on social entrepreneurship. Her work has been published in the Academy of Management, Learning & Education; Huffington Post; NextBillion, DevEx, Social Impact Exchange, and she most recently served as the lead author of CASE’s Scaling Pathways series, in partnership with the Skoll Foundation, USAID’s Global Development Lab and MercyCorps.
Erin has been at Fuqua since 2009, having played a variety of roles within CASE as well as developed the strategy for and launched a new position within the Fuqua Career Management Center focused on social impact careers. Prior to Fuqua, Erin worked in the nonprofit, public and private sectors including consulting with government and nonprofit clients at Booz Allen Hamilton, helping to develop public-private partnerships at the U.S. Agency for International Development (USAID), working on private sector development issues at the World Bank, and working for a nonprofit think tank in Washington D.C. She earned her BA from Duke University and her MBA from Stanford University’s Graduate School of Business. Erin was recognized as a “40 under 40” awardee by the Triangle Business Journal in 2014. You can follow Erin on Twitter @ErinWorsham.
Kimberly Bardy Langsam, Senior Program Director, CASE
Kimberly Bardy Langsam is Senior Program Director for CASE, managing and contributing to a number of projects bringing together insights and hard-won advice from the social venture community to support the field in scaling more efficiently and effectively. Projects include CASE Smart Impact Capital, an online training toolkit for those raising impact capital; Scaling Pathways, a series sharing strategies to address key scaling challenges such as talent, partnerships, and financing; and SEAD, an effort to build the knowledge base around scaling innovations in global health. Kim was previously a Health Development Officer in the Office of HIV/AIDS at USAID where she worked on PEPFAR’s supply chain management initiatives and worked closely with USAID Missions and multilateral partners. Prior to that, she supported research and programming at the Injury Control Center Uganda in Kampala. Kim has a BA from the University of Pennsylvania, and an ScM from the Harvard School of Public Health.
Erin Morant, Senior Program Coordinator, CASE
Erin Morant is the CASE Senior Program Coordinator at Duke University’s Fuqua School of Business. As a part of CASE, Erin is responsible for managing and executing CASE student programs, coordinating complex events and administering the F.M. Kirby Impact Prize. Erin has over fifteen years of experience in higher education, specializing in program management and student affairs. Prior to joining the CASE team, she served as the Program Coordinator in Diversity, Engagement, Training and Education at NC State’s Office for Institutional Equity and Diversity where she focused on developing diversity programming and workshops for faculty and staff. Erin holds a BA from The University of North Carolina at Greensboro.
Laurie J. Spengler, Senior Fellow, CASE i3
Laurie J. Spengler is an impact investment banker, board member and active contributor to the impact investing industry. Economic development, entrepreneurship, sustainable business, financial inclusion, responsible and impact investment are consistent themes defining Laurie’s pursuit of purpose. Her skills range from strategic advisory to capital structuring, capital raising and M&A services. Laurie’s particular expertise is designing, structuring and launching investment vehicles that align different types of capital with positive impact and appropriate financial returns.
A featured speaker and author, Laurie is a distinguished member of the impact investing and development finance communities. Among her active board engagements, she serves as a non-executive director of the CDC Group (the UK DFI) and the UK Impact Investing Institute. She is a member of the Council on Foreign Relations.
Previously, Laurie was CEO of Enclude Capital UK Limited, formerly part of the Shore Bank and Triodos family of companies, and now a Palladium Company. Prior to building Enclude Capital, Laurie was founder and CEO of Central European Advisory Group, a regional advisory firm she sold to her management team in 2005. She also worked as an attorney with the New York, Brussels and Prague offices of White & Case. Laurie has a JD from Harvard University and an undergraduate degree from Stanford University.