ALAQA

Alaqa Podcast

ALAQA explores the structural, strategic, and human dimensions of relationships in the world of capital — particularly for those seeking to finance solutions in a complex, interdependent world. Each episode unpacks a relationship that matters between: - investors and founders - different assets in a portfolio - public and private capital - next-gen inheritors and established wealth - theory of change and deal execution We speak with investors, ecosystem builders, capital allocators and change agents working at the intersection of finance, sustainability, and systems thinking.

  1. há 10 h

    #26 Impact secondaries & market building: Nicolas Muller on making impact more investable for LPs

    Today, I’m joined by Nicolas Muller, Managing Director and Head of Private Equity Partnerships at Blue Earth Capital, a dedicated impact asset manager investing globally across social and environmental impact. With a background spanning traditional private equity, emerging markets, and impact investing, Nicolas works at a particularly interesting point in the impact ecosystem: building the market for impact secondaries and exploring how liquidity can help impact investing grow, mature, and ultimately become more mainstream. At Blue Earth Capital, Nicolas focuses on investing in and alongside impact funds, while developing a secondary market designed to unlock liquidity for investors and fund managers without losing sight of the impact mission. His conviction is that secondaries can do more than provide an exit: they can bring new investors into impact, give existing investors the ability to recycle capital, and give companies and managers the time they need to pursue long-term value creation. In this conversation, we unpack what it really takes to build an efficient impact market, from the tensions between impact investing and traditional asset management, to the role of dedicated impact players, the different forms of secondary transactions, and the question of whether impact should influence how we value a company. We also explore a particularly important tension: how can we create liquidity without undermining the patient capital that many impact businesses need to scale? Ultimately, Nicolas makes the case for looking beyond the individual investment and thinking about additionality at the level of the market itself, asking not only where capital can create impact, but how investors can help make impact investing more investable, scalable, and resilient as an asset class. This special playlist is developed in partnership with ChangeNOW. It brings together conversations with fund managers who presented on stage during Funds for Change, and with investors, operators, and thinkers navigating the tensions of impact, climate, and finance. Key topics: Dedicated impact investors need strong mission and cultural alignmentImpact secondaries can unlock liquidity and attract new investorsPatient capital helps impactful companies scale without premature exitsCatalytic investors should help build scalable impact markets Episode breakdown: Intro - 00:00:00 Welcome - 00:02:00 Origin & Perspective - 00:03:32 Contrarian Thoughts: 00:37:07 Flash Round - 00:39:15 Follow us on: https://linktr.ee/alaqapodcast Designed & Hosted by Imène Maharzi Produced by Taisa Echterhoff

    #26 Impact secondaries & market building: Nicolas Muller on making impact more investable for LPs
  2. 8 de set.

    #25 Capital as a bridge: Astrid Leyssens on investors letting go of control

    Today, I’m joined by Astrid Leyssens, founder of We Are Impact Collective, where she mentors, advises, and supports wealth holders, investors, and pioneers on their impact journeys. At We Are Impact Collective, Astrid works at the intersection of impact investing, systemic change, and collaborative innovation, helping individuals, family offices, and organizations turn ambition into actionable strategies. Through initiatives like Impact Into Play and the Explorers Club, she creates spaces for new ideas, unconventional collaborations, and long-term thinking around capital and transformation. As a seasoned board and investment committee member, Astrid brings a strong systems perspective to how capital is deployed — bridging philanthropy, sustainable finance, and business strategy to help drive meaningful social and environmental progress. This special playlist is developed in partnership with ChangeNOW. It brings together conversations with fund managers who presented on stage during Funds for Change, and with investors, operators, and thinkers navigating the tensions of impact, climate, and finance. Key topics: Investors as bridges, not permanent owners or controllersUrgency, long-term thinking, and differentiated investment timelinesWealth holders collaborating to accelerate systemic capital allocationRethinking wealth, legitimacy, participation, and the meaning of enough Episode breakdown: Intro - 00:00:00 Welcome - 00:01:24 Origin & Perspective - 00:02:54 Flash Round - 00:32:01 Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flb Apple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcast Designed & Hosted by Imène Maharzi Produced by Taisa Echterhoff

    #25 Capital as a bridge: Astrid Leyssens on investors letting go of control
  3. 1 de set.

    #24 Activating investor communities: Suzanne Rosman on how peers support the journey to impact-aligned decisions

    Today, we are joined by Suzanne Rosman, a business development professional currently working at PYM, bringing international experience across startups and corporates. Suzanne’s work spans business development and organisational operations within the impact investing space, shaped by experience working with funds and navigating different investment and operating environments. Alongside her professional work, she is deeply engaged in themes such as female entrepreneurship, impact investing, and emerging ecosystems, including LATAM startups and Web3 communities. Her perspective is also shaped by a curiosity for learning across geographies and cultures, with personal ties to Colombia and New Zealand, and a strong focus on people, connection, and continuous learning through experience. This special playlist is developed in partnership with ChangeNOW. It brings together conversations with fund managers who presented on stage during Funds for Change, and with investors, operators, and thinkers navigating the tensions of impact, climate, and finance. Key topics: Impact investing as a learning journey, not simply a financial product. Peer-to-peer relationships can reduce fear and unlock capital. Private wealth should flow towards solutions society needs. Investors need to confront the cost of inaction. Episode breakdown: Intro - 00:00:00 Welcome - 00:01:51 Origin & Perspective - 00:03:39 Contrarian Thoughts - 00:33:40 Flash Round - 00:38:10 Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flb Apple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcast Designed & Hosted by Imène Maharzi Produced by Taisa Echterhoff

    #24 Activating investor communities: Suzanne Rosman on how peers support the journey to impact-aligned decisions
  4. 30 de jul.

    #22 Aiming for depth, not for size: André Stürmer & Ebru Kaya on their practices of regeneration

    Today, I’m joined by Ebru Kaya and André Stürmer, co-founders and Stewards of Atreyu and RIA. Previously, Ebru was the CEO of The Hatchery, an impact fund focussed on food. Ebru had a long career in Finance Marketing and Strategy at Unilever in Europe & Africa and at RCL Foods in South Africa. Amongst others, Ebru led the Sustainability agenda in Central Africa for Unilever and in South Africa for RCL Foods. As for André, he has been supporting young businesses in South Africa since 2009, in his capacity as a coach to management, as chairman, as fundraiser, and as an investor – both on his own account and as MD of TriVest, a German-owned VC based in South Africa. Before that, he was an investment banker in London & Johannesburg with JP Morgan. This special playlist is developed in partnership with ChangeNOW. It brings together conversations with fund managers who presented on stage during Funds for Change, and with investors, operators, and thinkers navigating the tensions of impact, climate, and finance. Key topics: - Why going deeper can create more impact than scaling faster, and choosing integrity over growth in regenerative investing. - How unlearning conventional finance and redefining value transforms both investing practice and personal life. - Why regenerative investing is a continuous practice of experimentation, where learning only matters when embedded in action. - Building relationships and communities as the true infrastructure for long-term systems change rather than relying on transactions or expertise. Episode breakdown: Intro - 00:00:00 Welcome - 00:01:33 Origin & Perspective - 00:03:34 Contrarian Thoughts - 00:40:00 Flash Round - 00:46:26 Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flb Apple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcast Designed & Hosted by Imène Maharzi Produced by Taisa Echterhoff

    #22 Aiming for depth, not for size: André Stürmer & Ebru Kaya on their practices of regeneration
  5. 21 de jul.

    #21 Inassurabilité & adaptation : le collectif comme ferment et condition des nouveaux modèles avec Chloé Coursaget (FR) 🇫🇷

    Today's episode is a special one. We’re switching things up with a conversation conducted entirely in French. Consider it a linguistic detour from our regular programming. Alors… on y va, et bonne écoute en français.  Aujourd'hui, je reçois Chloé Coursaget, dirigeante de Circomplex, c'est un cabinet de conseil qui accompagne les organisations face aux grandes mutations environnementales, économiques et sociales. Et à travers son travail, elle aide les dirigeants et dirigeantes à aligner vision, stratégie, communication et mise en action dans un contexte de transformation permanente.Elle est également journaliste, éditorialiste et puis modératrice de débats. Et à ce titre, Chloé anime régulièrement des échanges réunissant experts, entreprises, institutions et acteurs de la finance autour de sujets très variés : l'eau, la durabilité, l'assurabilité des risques ou encore les transitions économiques et sociétales.Son approche repose sur la conviction que les transformations qui ont le plus de chances de porter leurs fruits naissent du dialogue, de la coopération et d'une compréhension systémique des enjeux. Points clé : L’adaptation est un enjeu d’habitabilité avant d’être un enjeu climatique.L’inassurabilité révèle les limites de nos modèles économiques et territoriaux.Les transformations les plus durables naissent de la coopération entre acteurs aux intérêts différents.Face à l’urgence, il faut expérimenter vite tout en pensant le long terme. Episode breakdown: Intro - 00:00:00 Welcome - 00:01:10 Origin & Perspective - 00:02:16 The Relationship at the Core - 00:08:35 Flash Round - 00:58:27 Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flb Apple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986 https://linktr.ee/alaqapodcast Designed & Hosted by Imène Maharzi Produced by Taisa Echterhoff

    #21 Inassurabilité & adaptation : le collectif comme ferment et condition des nouveaux modèles avec Chloé Coursaget (FR) 🇫🇷
  6. 14 de jul.

    #20 Growing the pie: Vincent Gradt on expanding "nature finance" markets

    Today, I’m joined by Vincent Gradt, Co-Founder and Managing Partner of Impact Earth. Vincent is an investor and operator with more than 20 years of experience across impact investing, natural capital, and frontier markets. Vincent previously led Mirova Natural Capital and was instrumental in launching AXA’s impact investing strategy in 2013, helping shape some of the field’s earliest institutional approaches to sustainable finance.  So why is Vincent with us today? Sometimes as a founder, an opportunity can be obvious to you, but not to the rest of your peers, and that's where the magic of traction and value creation operate, and that's also where impact in real life appears. In the case of Vincent and his team, they see two not so obvious things.One, the Earth's tropical belt is the key geography to focus on, and two, resilience of tropical ecosystems is not a side outcome of climate capital strategies, but a necessary condition for financial returns in tropical natural ecosystems. This special playlist is developed in partnership with ChangeNOW. We welcome some of the fund managers who presented during Funds for Change. Since they only had but a few minutes on stage to explain their unique angles, the sophistication of their approach, the urgent needs they want to address, we decided to offer them more time and broadcast their ideas to a wider audience. Key topics: Why protecting nature starts with creating economic opportunities for local communities The missing middle in nature finance, and why early-stage capital is essential Why tropical ecosystems should be at the centre of climate investing How long-term, adaptive investing can unlock resilient natural capital markets Episode breakdown: Intro - 00:00:00 Welcome - 00:01:26 What's your fund all about - 00:02:52 Biggest Objections - 00:18:42 Flash Round - 00:26:22 Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flb Apple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986 https://linktr.ee/alaqapodcast Designed & Hosted by Imène Maharzi Produced by Taisa Echterhoff

    #20 Growing the pie: Vincent Gradt on expanding "nature finance" markets
  7. 7 de jul.

    #19 Acknowledging the polycollapse: Alice Kalro on building bridges, systemic leadership and risk mitigation

    Today, I’m joined by Alice Kalro, a systems thinker, strategist, and founder of arkH3, prolific thought leader and originator of multiple frameworks and methodologies, including Sustainability-as-the-World-Needs. She is the lead author of Leading through the Polycollapse: A Guide to Systemic Foresight for VUCA Native Strategy, published in April 2025. With arkH3 - her advisory and training firm, she focuses on organisations and investors who are starting to recognise that the only way to navigate systemic risk is through systemic leadership. In this episode, we explore what happens when the models guiding our economies no longer reflect reality — and why climate risk cannot be understood in isolation from the broader collapse of interconnected Earth systems. Together, we discuss systemic leadership, the limits of adaptation, the emotional and political weight of decision-making under uncertainty, and what it means to build agency in a time of accelerating complexity. Why climate change cannot be understood in isolationBusiness strategy to systemic leadershipAgency in the face of polycollapseThe human side of systems leadership Episode breakdown: Intro - 00:00:00 Welcome - 00:01:18 Origin & Perspective - 00:02:56 Tensions - 00:40:06 Contrarian Thoughts - 00:47:36 Flash Round - 00:53:49 Relevant link: Mentioned - Podcasts du Collège de France https://www.college-de-france.fr/fr/podcasts-du-college-de-france Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flb Apple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986 https://linktr.ee/alaqapodcast Designed & Hosted by Imène Maharzi Produced by Taisa Echterhoff

    #19 Acknowledging the polycollapse: Alice Kalro on building bridges, systemic leadership and risk mitigation

Sobre

ALAQA explores the structural, strategic, and human dimensions of relationships in the world of capital — particularly for those seeking to finance solutions in a complex, interdependent world. Each episode unpacks a relationship that matters between: - investors and founders - different assets in a portfolio - public and private capital - next-gen inheritors and established wealth - theory of change and deal execution We speak with investors, ecosystem builders, capital allocators and change agents working at the intersection of finance, sustainability, and systems thinking.