Spring Break
Reflections on The Visits of Natalie Portman and Alan Patricof
By Jonathon Kelly, Associate Editor
Issue date: 11/5/07 Section: News
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I recently attended two events related to microfinance in developing economies; one focused on debt capital and the other on equity capital. At the close of the evening I left these events with a sense of powerlessness that went beyond the topic of microfinance. In life we come across any number of causes that hope to compete for a privileged place among our priorities - the battlefield for our hearts, minds, and efforts is a dynamic one indeed but it is a conflict that we need to understand.
The FINCA International event on Microfinance that was hosted for the Social Enterprise Club by Prof. Michael Chu and Natalie Portman was engaging. Ms. Portman was a gracious guest; she held court during her first trip to HBS with poise, humility, and a sense of collegiality that is seldom seen in such campus events. It was clear that she was open to a dialogue and after a few short minutes of prepared remarks she yielded the reserve of her time to questions from the audience for her, Professor Chu, and a representative from FINCA. The lessons learned from Ms. Portman's efforts to understand the plight of individuals, particularly women, in developing countries and the challenges they face in getting access to credit presented a stark reality. And by my own estimation some six hundred individuals listened intently to her story of advocacy and belief in microfinance. Although Prof. Chu acknowledged that there are Social Enterprise Summer Assistanceships available to students who are interested in pursing a summer opportunity with FINCA, I left the event wondering what to do next, the answer clearly was not for all of us to go to work for FINCA.
Prior to the FINCA event I attended an African Business Club sponsored event with Alan Patricof, cofounder of Apax Partners, Inc. and Seth Cohen '08. Mr. Patricof focused on making the case to students that microfinance is in fact not the silver bullet for the challenges facing the developing world, and that equity capital must be involved instead of thinking only in terms debt assistance. He argued that we should convince talented individuals to return to developing countries like Africa to build world class enterprises or work as "true" venture capitalists directing investments of less than two million dollars. In attendance were roughly one hundred students and I began encouraging my colleagues to pursue their interests back home, start businesses that employ people, and personally appreciating the impact that equity has had in allowing entrepreneurs to fail and succeed in America.
The FINCA International event on Microfinance that was hosted for the Social Enterprise Club by Prof. Michael Chu and Natalie Portman was engaging. Ms. Portman was a gracious guest; she held court during her first trip to HBS with poise, humility, and a sense of collegiality that is seldom seen in such campus events. It was clear that she was open to a dialogue and after a few short minutes of prepared remarks she yielded the reserve of her time to questions from the audience for her, Professor Chu, and a representative from FINCA. The lessons learned from Ms. Portman's efforts to understand the plight of individuals, particularly women, in developing countries and the challenges they face in getting access to credit presented a stark reality. And by my own estimation some six hundred individuals listened intently to her story of advocacy and belief in microfinance. Although Prof. Chu acknowledged that there are Social Enterprise Summer Assistanceships available to students who are interested in pursing a summer opportunity with FINCA, I left the event wondering what to do next, the answer clearly was not for all of us to go to work for FINCA.
Prior to the FINCA event I attended an African Business Club sponsored event with Alan Patricof, cofounder of Apax Partners, Inc. and Seth Cohen '08. Mr. Patricof focused on making the case to students that microfinance is in fact not the silver bullet for the challenges facing the developing world, and that equity capital must be involved instead of thinking only in terms debt assistance. He argued that we should convince talented individuals to return to developing countries like Africa to build world class enterprises or work as "true" venture capitalists directing investments of less than two million dollars. In attendance were roughly one hundred students and I began encouraging my colleagues to pursue their interests back home, start businesses that employ people, and personally appreciating the impact that equity has had in allowing entrepreneurs to fail and succeed in America.
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