Goldman Sachs's winner of 'India Impact Fund' announced

NEW DELHI: Goldman Sachs, a leading investment bank has announced the winners of its inaugural "India Impact Fund." The fund is focused on young employees of the firm to make an impact in communities across the country by competing to identify and secure a total grant of US$100,000 (approximately Rs 68 lakh) for three non-governmental organizations ("NGOs").

According to a company release, the winners are the Children’s LoveCastles Trust, Spastics Society of Karnataka, and Digital Empowerment Foundation, who won grants of $50,000 (about Rs 33 lakh); $30,000 (about Rs 20 lakh), and $20,000 (Rs 13.58 lakh), respectively.

Launched in October 2016, the India Impact Fund is an initiative that provides an opportunity for junior Goldman Sachs employees to collaborate, leverage their creativity and analytic skills to identify innovative solutions to pressing social challenges, and support local NGOs and causes of their choice.

“The India Impact Fund allows our young professionals who have recently joined the workforce to learn first-hand about the firm’s long-standing culture of philanthropy and teamwork at an early stage in their careers,” said Bunty Bohra, chief executive officer of Goldman Sachs Services in India. 26 teams comprising of 99 analysts and associates had applied for this initiative.