ALAQA

Epizode

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  #26 Impact secondaries & market building: Nicolas Muller on making impact more investable for LPs 17.09.2026 43min

  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 marketsEpisode breakdown:Intro - 00:00:00Welcome - 00:02:00Origin & Perspective - 00:03:32Contrarian Thoughts: 00:37:07Flash Round - 00:39:15Follow us on: https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #25 Capital as a bridge: Astrid Leyssens on investors letting go of control 08.09.2026 34min

  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 enoughEpisode breakdown:Intro - 00:00:00Welcome - 00:01:24Origin & Perspective - 00:02:54Flash Round - 00:32:01Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #24 Activating investor communities: Suzanne Rosman on how peers support the journey to impact-aligned decisions 01.09.2026 41min

  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 - 00:00:00Welcome - 00:01:51Origin & Perspective - 00:03:39Contrarian Thoughts - 00:33:40Flash Round - 00:38:10Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #23 Relationality and capital: James Burrows & Philipp Essl on Building Resilient Systems 04.08.2026 44min

  Today, I'm joined by James Burrows and Philipp Essl, managing directors at Better Society Capital. At BSC, James currently looks after the social lending team which includes work on blended finance, ethical banks, and social outcomes partnerships. He explores how capital can better connect with communities. He's also building out the practice looking at investing for more transformative systems change. Philipp focuses on social impact measurement and management across Better Society Capital's investment process and portfolio.He's passionate about using impact strategy and evidence to drive social investment decisions and tackle pressing social challenges. Together, their work reflects a broader effort to rethink how finance can support resilient communities and more equitable economic systems. Key points:Why relationships shape resilient systemsHow place brings systems investing to lifeWhy urgency requires reflection, not reactionHow trust enables transformational investingEpisode breakdown:Intro - 00:00:00Welcome - 00:01:43Origin & Perspective - 00:03:07Tensions - 00:33:33Flash Round - 00:40:10Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #22 Aiming for depth, not for size: André Stürmer & Ebru Kaya on their practices of regeneration 30.07.2026 52min

  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 - 00:00:00Welcome - 00:01:33Origin & Perspective - 00:03:34Contrarian Thoughts - 00:40:00Flash Round - 00:46:26Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #21 Inassurabilité & adaptation : le collectif comme ferment et condition des nouveaux modèles avec Chloé Coursaget (FR) 🇫🇷 21.07.2026 1h 4min

  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 - 00:00:00Welcome - 00:01:10Origin & Perspective - 00:02:16The Relationship at the Core - 00:08:35Flash Round - 00:58:27Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #20 Growing the pie: Vincent Gradt on expanding "nature finance" markets 14.07.2026 31min

  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 communitiesThe missing middle in nature finance, and why early-stage capital is essentialWhy tropical ecosystems should be at the centre of climate investingHow long-term, adaptive investing can unlock resilient natural capital marketsEpisode breakdown:Intro - 00:00:00Welcome - 00:01:26What's your fund all about - 00:02:52Biggest Objections - 00:18:42Flash Round - 00:26:22Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #19 Acknowledging the polycollapse: Alice Kalro on building bridges, systemic leadership and risk mitigation 07.07.2026 58min

  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 leadershipEpisode breakdown:Intro - 00:00:00Welcome - 00:01:18Origin & Perspective - 00:02:56Tensions - 00:40:06Contrarian Thoughts - 00:47:36Flash Round - 00:53:49Relevant link:Mentioned - Podcasts du Collège de Francehttps://www.college-de-france.fr/fr/podcasts-du-college-de-franceFollow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #18 Taking impact to scale: Nadia Nikolova on making Impact an easier yes for institutional investors 30.06.2026 35min

  Today, I’m joined by Nadia Nikolova, CEO of responsAbility Investments, M&G’s emerging markets specialist impact asset manager mobilising institutional capital at scale.Nadia is an investment management expert with deep experience in development finance and impact investing, with a strong track record in infrastructure debt and structured finance. As of September 2025, she stepped into the CEO role at responsAbility, a pure-play impact manager focused on deploying capital into sustainable solutions across emerging markets.Prior to this she led the Direct Lending business for Allianz Global Investors across Europe and Asia having built a team investing in impact focused investments globally - from small cap European solutions businesses to blended finance at scale in Emerging markets. As an early entrant, AllianzGI was a market shaper in this field.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:Meet investors where they are. Institutional LPs don't buy impact first; they buy solutions to portfolio needs (risk, return, diversification, liquidity). Impact managers need to package products around investor requirements, not expect investors to adapt.The future of impact is becoming mainstream investing. Nadia believes that as climate and social solutions become the new economy, the distinction between "impact investing" and "investing" should eventually disappear—because creating positive impact will simply be part of good investing.Episode breakdown:Intro - 00:00:00Welcome - 00:02:16Origin & Perspective - 00:03:23Tensions - 00:27:27Contrarian Thoughts - 00:29:12Flash Round - 00:29:32Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #17 Patience, bold founders and incentives: Michelle de Rijk on revisiting the investment formula for change 23.06.2026 25min

  Today, I’m joined by Michelle de Rijk, an impact investor with over 15 years of experience across venture capital and impact investing, currently at Fair Capital Impact Fund.Michelle spent a decade at DOEN Ventures before joining Fair Capital Impact Fund, where she has been involved in backing and supporting companies such as Fairphone, Seepje, and Crowdbuilding.A formative moment in her journey came in 2016, when she spent six months in India working with SELCO Foundation, an experience that deeply shaped her understanding of what systems change looks like when driven by local entrepreneurs and community needs. Across her career, Michelle combines professional investing with a strong commitment to building a more equitable and sustainable world — with a sense of purpose, and a genuine enjoyment of working alongside founders, colleagues, and partners.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:Patient capital and long-term investingFounder humility, resilience, and self-awarenessSystemic impact across food, energy, and circular economyEliminating carried interest and rethinking investor incentivesEpisode breakdown:Intro - 00:00:00Welcome - 00:01:46Origin & Perspective - 00:03:33Biggest Objections - 00:19:08Flash Round - 00:23:25Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #16 Financial design in the service of climate resilience: Sandrine Henton on unlocking local and global capital for African SMEs 16.06.2026 28min

   Today I'm joined by Sandrine Henton, founder and managing director of EG Capital, a private credit investment platform focused on climate adaptation across Africa. Her work sits at the intersection of climate finance, resilience, and capital allocation, helping shape new approaches to investing in adaptation across emerging markets. So why is Sandrine with us today? To be serious about planetary boundaries, we collectively need to be serious about how we channel massive amounts of private capital towards Africa, because the scales are more than uneven at this point, and our collective futures depend on it. To do that, how about we start at assessing risk from a clean state with actual data? Because finance and investments are all about data, right? So let's see what Sandrine can tell us about it. 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:Climate adaptation finance in AfricaSME resilience and growth capitalMobilizing African private capitalGender-driven investment performanceEpisode breakdown:Intro - 00:00:00Welcome - 00:01:14Origin & Perspective - 00:02:33Biggest Objections - 00:09:07Flash Round - 00:24:58Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #15 ⁠Rethinking the Fundraise: Lucy Mortimer on Trust, Collaboration and Circular Economy Investing 09.06.2026 28min

   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.Today I'm joined by Lucy Mortimer, founding partner at Archipelago Ventures and environmental finance specialist with over 25 years of experience in climate finance and low-carbon investment. Over her career, Lucy has built a strong network across climate and nature finance, supporting early-stage companies and startups in navigating commercial barriers and scaling within complex markets. Her work sits at the intersection of environmental finance, investment structuring, and venture building, focused on helping capital flow more effectively into solutions for the climate transition.So why is Lucy with us today?I think it's fair to say that in 2026, circular economy can receive a "B+" for participation, but the impact in real life is desperately slow to appear. Some even start to question the possibility that it will ever reach actual market traction, at least without hefty public subsidies. That's the central scenario. And then you have the thematic experts, who jump in, willing to do the work. What's the work you'll tell me?Find the types of hidden industrial solutions that can transform the way materials flow through the economy.Not any materials - the 3 big ones - plastics, metals and textiles, the ones which have significant impacts on human health, oceans & landscapes, climate, biodiversity, both from their extraction & manufacturing, and their end of life management. That's the work.Key topics:Circular economy investing beyond recyclingBuilding trust in deep tech and climate financeCollaboration as a new model for venture capitalUnlocking more capital for systemic climate solutionsEpisode breakdown:Intro - 00:00:00Welcome - 00:01:51Origin & Perspective - 00:02:20Biggest Objections - 00:10:59Flash Round - 00:25:10Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #14 From lived experiences to red carpets: Danielle Turkov on building impact and changing laws through films 02.06.2026 42min

  Today we sit down with Danielle Turkov, Founder and Executive Director of Think-Film Impact Production, a company she built from scratch to bridge the worlds of film, policy, and social change. Danielle has worked with Oscar- and Emmy-nominated projects like The Cave, iHuman, and BAFTA-nominated Eminent Monsters, using storytelling as a catalyst for real-world impact. Recently, “Mr Nobody Against Putin” won the Oscar and BAFTA for best documentary. Danielle is also part of the team who’s bringing “The voice of Hind Rajab” story to wider audiences.In this episode, she shares her journey from political strategist in the EU to global impact producer — and how film can move systems as powerfully as finance can. Enjoy the ride, and stay tuned for a possible part 2 with Danielle, as there is certainly more to cover!Key topics:Why storytelling is a form of systemic powerHow impact films can influence laws and institutionsThe tension between finance, empathy, and human rightsWhat it takes to build trust-driven change in volatile systemsEpisode Breakdown:Intro - 00:00:00Welcome - 00:01:06Origin & Perspective - 00:03:04The Relationship at the Core - 00:10:29Tensions, Lessons & Tools - 00:30:49Contrarian Thoughts - 00:35:12Your go-to person - 00:37:19Flash Round - 00:39:33Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #13 ⁠Finance is never neutral: Marcel Zuidam on changing capital from within 26.05.2026 32min

  Today, we are happy to welcome Marcel Zuidam, CEO of Triodos Bank, one of Europe’s leading banks in sustainable finance. Before joining Triodos, Marcel held senior leadership roles across mainstream finance, including CEO positions at NN Bank and Delta Lloyd Bank, giving him a rare perspective on both conventional and regenerative models of capital. In this conversation, we explore what it really means to finance change and change finance, from the myths still embedded in mainstream markets to the deeper question of how capital can serve societies, ecosystems, and long-term resilience rather than short-term extraction.Key topics:- Why finance is never neutral and capital always takes sides.- How the financial system became extractive rather than useful.- Why transparency alone will not redirect capital toward impact.- The tension between urgency and patience in systems change.Episode Breakdown:Intro - 00:00:00Welcome - 00:01:27Origin & Perspective - 00:02:24Financing Change & Changing Finance - 00:05:47Systems Thinking & Leverage Points - 00:11:44Democratic Guidance & Incentives - 00:18:03The Myths of Mainstream Finance - 00:23:15What a Regenerative Financial System Could Look Like - 00:26:09Urgency vs Patience - 00:27:58Contrarian Thoughts - 00:29:02Flash Round - 00:30:15Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  ALAQAxChange NOW - Teaser Season 2 21.05.2026 1min

  Welcome to Alaqa.Alaqa means relationship.And in finance, relationships are often the invisible layer — shaping decisions, shaping trust, shaping what ultimately gets funded… and what doesn’t.This new season is developed in partnership with ChangeNOW.It brings together conversations with fund managers from Funds for Change, and with investors, operators, and thinkers navigating the tensions of impact, climate, and finance.What you’ll hear are not polished narratives.They are reflections from within the system — on constraints, on trade-offs, on what it really takes to move capital differently.Because beyond strategies and frameworks, change happens through relationships — between people, between institutions, between intentions.And these relationships need to be nurtured — with our critical minds sharp, and our hearts open, willing to build the non-obvious bridges.But what if the way we relate — to capital, to risk, to each other — is also what holds the system in place?And what if changing finance begins there?Let’s put that assumption to the test — and take a dive together.Difficult, sometimes unsettling, sometimes messy… and in spite of everything, somewhat hopeful.
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  #12 Patient capital formula: Benjamin Le Pendeven on persistence as the missing ingredient of impact 30.12.2025 41min

  Today, we are happy to welcome Benjamin Le Pendeven, associate professor of entrepreneurial and responsible finance at Audencia Business School, where he leads the “Finance for Innovation” research chair focused on impact investing, innovation financing, and social impact bonds. He collaborates with public institutions, private investors, and NGOs and previously worked as an entrepreneur and impact investor.Key topics:Why experimentation isn’t the problem, scaling and persistence are.How persistence and stability in teams matter as much as patient capital.Why impact investing must think beyond pilots, metrics, and exits.How academia can act as a bridge between finance, policy, and real-world change.Episode Breakdown:Welcome - 00:00:00Origin & Perspective - 00:03:06The Relationship at the Core - 00:23:12Contrarian Thoughts - 00:32:12Your go-to person - 00:33:54Flash Round - 00:34:59
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  #11 Patience as Powerful Lever: Benjamine Friderich on Long-Term Capital and Transformative Growth (FR episode) 🇫🇷 23.12.2025 55min

  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, nous sommes heureux d’accueillir Benjamine Friderich, Head of Investments chez Colam Impact, une filiale de Colam Entreprendre.Après avoir effectué un tour du monde à l’âge de 21 ans sur le thème du commerce équitable et de la microfinance, Benjamine Friderich rejoint le Groupe Crédit Coopératif, où elle accumule 12 ans d’expérience dans différents services. En 2015, elle intègre la filiale Esfin Gestion, où elle développe un fonds dédié à l’impact social, accompagnant plus d’une vingtaine d’entrepreneurs dans leurs enjeux de croissance.En 2021, elle devient Directrice de l’Impact Investing chez Enowe, un family office français, où elle développe et pilote la stratégie d’investissement à impact positif. Elle déploie plusieurs millions d’euros dans des entreprises et des fonds d’investissement à impact en France et dans le monde.Points clé:Pourquoi l’impact est intrinsèquement subjectif et politiqueComment l’appétit pour le risque façonne les trajectoires des fondateurs et fondatricesComment le capital patient permet aux entreprises de pivoter et de mûrirEpisode breakdown:Intro - 00:00:00Welcome - 00:02:50Origin & Perspective - 00:06:06The Relationship at the Core - 00:10:17Tensions, Lessons & Tools - 00:31:30Contrarian Thoughts - 00:49:55Flash Round - 00:52:03Follow us on: Spotify - https://open.spotify.com/show/0Po2mXWyAelyE91jSa5flbApple Podcasts - https://podcasts.apple.com/us/podcast/alaqa/id1838909986https://linktr.ee/alaqapodcastDesigned & Hosted by Imène MaharziProduced by Taisa Echterhoff
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  #10 Between a Rock and a Hard Place: Constanza Robles on Finding Creative Adjustments for AgriFood Systems Transformation 16.12.2025 39min

  Today we are happy to welcome Constanza Robles Fumarola.Constanza is a systems change investor and designer focused on transforming food systems across Africa. She is the Founding Partner of Inanna, an investor and venture builder applying systems thinking to regenerative agriculture and food. With a background in social impact and futures design, she has worked with organisations such as the UN FAO, FCDO, and GIZ to shape strategies that bridge innovation, inclusion, and sustainability. Her work brings together modern finance and indigenous, community-led knowledge to build resilient, equitable agrihealth systems.Key points:Why shifting investment logic is necessary for system transformationThe gap between conceptual, long-term transformation goals and the short-term, survival-based realities of farmers or investorsHow Regenerative Agriculture is gaining tractionEpisode breakdown:Welcome - 00:00:00Origin & Perspective - 00:10:35The Relationship at the Core - 00:18:43Tensions, Lessons & Tools - 00:30:47Contrarian Thoughts - 00:35:29Your go-to person - 00:35:49Flash Round - 00:36:50
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  #09 Using public money to support change: Laure Blanchard-Brunac on when blended finance actually works 09.12.2025 39min

  Today we are happy to welcome Laure Blanchard-Brunac.Laure is an expert in development finance and blended finance, with over 20 years of experience across leading European financial institutions and the European Commission. She has a proven expertise in EU financial instruments, budgetary guarantees and investment-related policies and regulations. Laure is currently a member of the InvestEU Investment Committee, and a Key Expert with the Trade and Private Sector Development Facility (TPSD) implemented by DAI on behalf of the European Commission. She is also a Senior Advisor with Rud Pedersen Public Affairs Brussels advising private companies on their EU funding strategies.Key topics:How blended finance actually works — where it succeeds, where it fails, and what signals show it’s the right tool.The hidden “EU bubble” dynamicsThe systemic importance of certain individuals inside institutionsEpisode breakdown:Intro - 00:00:00Origin & Perspective - 00:02:22The Relationship At Core - 00:17:37Contrarian Thoughts - 00:28:44Flash Round - 00:33:04
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  #08 Catalyzing possible futures during a messy present: Greg De Temmerman’s hybrid lens on Climate Action 02.12.2025 44min

  Today we are happy to welcome Greg De Temmerman.Greg has about 20 years of experience spanning fusion and energy research, philanthropic funding, and climate solutions. Working at the intersection between science, innovation and climate action, he is passionate about building systems that enable bold and transformative initiatives to thrive. Until October 2025 he was deputy CEO and Chief Science Officer of the Quadrature Climate Foundation in London. He is currently advising philanthropists and entrepreneurs on high impact projects. He is a published author and TED speakerKey topics:- The importance of effective Communication in Climate & Energy- Funding, power dynamics and what it really takes to scale Climate Innovation- Philanthropy’s role in Systems Change and infrastructure building- The messy middle of Climate TransitionEpisode breakdown:Intro - 00:00:00Origin & Perspective - 00:02:33The Relationship At Core - 00:12:16Tensions, Lessons & Tools - 00:24:39Contrarian Thoughts - 00:27:20Your Go-To Person - 00:29:43Flash Round - 00:30:25