Halcyon Annual Report 2022

Throughout 2022, Halcyon continued to grow and flourish while championing the power of the social entrepreneur. It was a year in which we refined our program model, tested new markets, and increased our footprint, both domestically and internationally.

We pushed ourselves to expand with the goal of proving that the future of capitalism is impact driven, and guess what? We’re succeeding.

In a year of firsts, we travelled to Amman, Jordan to conduct our first ever in-region residency for Halcyon’s MENA (Middle East/North Africa) Intensive. Later that year, we launched a program focused on impact-driven entrepreneurs in Sub-Saharan Africa. We closed out 2022 with our Future Builders program, a cohort made up of Black and Latinx women and nonbinary founders from across the United States.

We continued our commitment to the DMV region, selecting entrepreneurs from local Opportunity Zones for our 4th and 5th Opportunity Intensive cohorts. We also ran our sector-agnostic Residential Program for the eighth year in a row, bringing together change-making founders from across the globe. In 2022, we supported 60 ventures and 76 fellows from 31 countries around the world, providing critical resources to ventures tackling 21st century issues spanning agriculture and food security, education, access to healthcare, climate resilience, and many more of the world’s most pressing challenges.

The Halcyon community rallied behind our fellows, supporting them in a quickly evolving landscape. We facilitated 125 hours of skills training, nearly 1,500 hours of pro bono legal assistance, 328 hours of leadership coaching and consulting, and 51 pitch practice sessions. Our partner and donor communities were able to provide $464,000 in non-dilutive stipend support to help de-risk and democratize who gets to be an entrepreneur, building a more equitable future for us all. By expanding our reach and continuing to build on our already established work to help bring even more climate, health, and equity-driven solutions to market.

We also saw some affirming wins from our financial instruments. Halcyon Fund I invested a total of $975,000, including two new investments, and had two successful exits from fund companies, as well as several increases in valuation. The Halcyon Angels issued five new investments totaling $495,000, and also saw two successful exits. We also issued $93,000 in microloans to seven local startups who needed an early boost. The microloan fund was a prototype we launched with help from the Kimsey Foundation in 2021. We were proud to announce that the principal capital was fully returned once, a milestone for our fund, so loans from 2022 and beyond are now being made from returned capital.

From the beginning, Halcyon has pushed boundaries and broken through barriers to tap into traditionally under resourced but highly impactful ventures. By the end of 2022 we had proudly supported 335 entrepreneurs with 288 startups – 75% of those companies have a female founder or cofounder, and 78% have a founder of color. Halcyon fellows have collectively raised over half a billion dollars in support of their ventures, created over 5,000 jobs, and impacted more than 9.2 million lives globally, spanning every sector and every Sustainable Development Goal.

In closing, I would like to acknowledge the thousands of Halcyon community members who gave their time and support. Without you, our global impact and continued growth would not have been possible. Now, we have entered 2023 with gratitude and hope as we pioneer new regions and serve more entrepreneurs than ever before. Thank you for following along on our journey.

Kate Goodall
Co-Founder and CEO