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February 20, 2026 | ImpactAlpha

TGIF, Agents of Impact!  In today’s brief: 🗣 Impact stack. Data centers and large language models hog the AI spotlight, periodically ceding attention

Today’s brief

The Week’s Podcasts

🎧 This Week in Impact. Host Brian Walsh takes up ImpactAlpha’s top stories with editor David Bank. Up this week: Highlights from this week’s Agents of Impact Call on Shaping the Algorithm for good AI; how regional housing finance agencies in California are leveraging public funding to crowd private capital into affordable housing; and the emergence of local guarantee facilities for local investors in infrastructure in Africa and Asia.

The Week’s Call

(Human) agents of impact are shaping the algorithm for 'good AI.' Slowly, then all at once. Artificial intelligence, under development for years, is suddenly upending every facet of life. That is putting new urgency behind efforts to ensure that AI models are designed in ways that preserve agency, benefit humanity, and contribute to the public good. “There's a very strong imperative from Big Tech to make us believe that the tech itself is the end,” said Katy Knight of the Siegel Family Endowment. “The reality is that we have the agency to choose what we adopt and what we don't adopt.” ImpactAlpha’s Agents of Impact Call brought together Knight, Chris Jurgens of Omidyar Network, Paul Fehlinger of Project Liberty Institute, and Mohamed Nanabhay of Mozilla Ventures to sketch an investment thesis around responsible and ethical AI, and kick off ImpactAlpha’s Shaping the Algorithm beat, in partnership with Siegel Family Endowment. 

The Week’s Spotlight

A fund for Canada’s Indigenous communities opens the tap of public finance. There have been many attempts to bring private and public finance together to fund social programs. Many have been unsuccessful (cf. “social impact bonds”). A first-time fund from Indigenous-led Raven Group in Canada has a fresh take on the "pay for success" model. Raven’s Indigenous Outcomes Fund this week reached a $32.2 million second close toward a $50 million goal to fund roughly a dozen green and community health-focused projects requested and designed by Canada’s First Nations and Native tribes in the US. Raven has three projects underway, with six more set to start this year. “Investors are asking us to scale larger than this fund,” Raven’s Jeff Cyr told ImpactAlpha. “If you want to have your money make systemic change, funds that will do that for you are really hard to find.”

The Week’s Talent and Jobs

💼 See and share dozens of new impact jobs on ImpactAlpha’s Career Hub and view hundreds of more jobs in impact investing and sustainable finance. Have a job listing to post? Submit it here.

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