partnerships, the key is to identify shared value and leverage the combined strengths of each partner. But unlocking the full potential of collaboration is not just about knowing why to partner; it’s about knowing how to make partnerships work. 13 However, partnerships can be fragile and difficult. Tensions may arise, or mission drift can occur when partners pursue incompatible goals. Leaders in these partnerships must focus on alignment—through transparent governance, strong communication, and candid conversations—to ensure that the collaboration remains true to its intended impact. 14 Deliberate Leaders seek to establish and maintain alignment among their partners and collaborators, including the communities in which they work and serve, through open communication and candid conversations. The case study Insights into Japan’s First Impact Funds features a groundbreaking collaboration that brought the practice of impact investing to Japan. While working at the Nippon Foundation, Nanako Kudo, former Nippon staff member and now a member of the SIIF executive committee, was approached by a colleague from Social Investment Partners (SIP) with an idea to create a fund dedicated to amplifying social impact. The partnership between the Nippon Foundation and SIP launched the Japan Venture Philanthropy Fund (JVPF)—the first of its kind in Japan. Their collaboration began as a small, experimental project designed to empower organizations with both financial resources and managerial support. Creativity Deliberate leaders imagine a new future and create approaches that drive social change. In the complex world of Wicked Problems, Deliberate Leaders acknowledge that there is no one-size-fits-all solution. Creativity, in this context, means rejecting fixed ways of thinking and doing things. 15 Social innovation is one form of creativity that is relevant to impact investing. Socially innovative actions, strategies, practices, and processes occur in response to Wicked Problems. 16 As noted, linear thinking fails to solve these issues. No single actor—whether private or public—can tackle problems like poverty, exclusion, and deprivation alone. 17 Social innovation is about finding novel solutions that address gaps in the production, availability, and consumption of public goods, which benefit society in specific cultural and normative contexts. 18 It is also vital in improving living conditions and meeting global goals like the United Nations Sustainable Development Goals (SDGs). However, social innovation doesn’t happen in isolation—it is rooted in the values and norms of Deliberate
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Ten Years in the Making
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