Mike Galgon, a successful entrepreneur with experience at aQuantive and Pioneer Square Labs, recently became the CEO of Global Partnerships, an impact-first investor providing capital to impoverished people and businesses in Latin America and Africa. Galgon was impressed by the level of commitment and innovation shown by the entrepreneurs benefiting from Global Partnerships, especially women coffee farmers supporting their families and communities. His involvement with the organization began over 22 years ago when he traveled to Guatemala and saw the transformative impact of access to credit on extreme poverty.
Galgon’s role in Global Partnerships expanded from serving on the board of directors to becoming the organization’s CEO after the retirement of former CEO Rick Beckett. Bill Richter, co-chair of the Global Partnerships board, commended Galgon’s leadership qualities and experience in growth-oriented markets. Since its founding in 1994, Global Partnerships has deployed over $770 million in investment capital to social enterprises in developing countries, focusing on providing basic goods and services to people living on less than $5.50 per day.
The nonprofit’s funds offer low-cost loans to investee partners, such as microfinance institutions, health clinics, and agricultural cooperatives, enabling them to provide essential services to marginalized communities. Galgon is determined to demonstrate the impact of an “impact-first” approach to investing through data collection and reporting on customer-level outcomes. He believes that by showcasing the success of companies in low-income countries, more businesses will be inspired to serve these overlooked economies and make a positive impact.
Despite the challenges faced by entrepreneurs, including the effects of climate change, Galgon finds inspiration in their resilience and determination to improve their lives. Global Partnerships aims to provide support to these entrepreneurs not by creating solutions for them, but by fueling their drive to succeed. Galgon sees hope in the potential for these entrepreneurs to build successful businesses and contribute to their communities. By continuing to provide financial resources and support, Global Partnerships strives to make a lasting impact on poverty and economic development in the regions where they operate.
Global Partnerships operates in Seattle, Bogotá, and Nairobi, focusing on investing in social enterprises that serve individuals living in poverty. Galgon’s experience and expertise in entrepreneurship and investment will be instrumental in furthering the organization’s mission to support economic development and alleviate poverty. By highlighting the innovative work of entrepreneurs in low-income countries, Global Partnerships hopes to inspire more investment and engagement in the sector. The organization’s commitment to data-driven impact measurement and reporting reflects its dedication to transparency and accountability in its efforts to create positive change in the communities it serves.
