CoPeace Sport aims to bridge the gap between sport, investment and social justice

Craig Jonas, CEO of an impact investing company CoPeace, believes in worrying about the long-term future of our world, but Jonas says it also has the benefit of being “a good business decision.” Now Jonas is looking to bring that mission to the sports world with CoPeace Sport.

This new subsidiary will focus on the passion and power of global sport while utilizing CoPeace’s business philosophy: to assess, invest in and manage growing, profitable businesses that have a measurable social and environmental impact.

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CoPeace Sport’s plans to grow its customer base include organizations seeking to benefit from a transition from the non-profit space to the for-profit arena.

“We’ve been discussing this for a long time and CoPeace has matured enough to bring in another wholly owned subsidiary,” Jonas told FOX Business in a recent interview. “Many of our personal contacts are in the world of sport and together we know sport can be a powerful force for good in our world.

“The timing is particularly fitting now, with athletes making their voices heard in the racial and social justice equation.”

Players, coaches and leagues around the world have spoken out this year about racial injustice and other important social issues. Jonas saw this as an opportunity for CoPeace Sport to connect with them to help invoke change, as it will be a smart long-term business and financial decision.

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“It’s a good business decision, especially in the midst of COVID-19, the fight for racial justice, and the reality of the climate crisis,” Jonas said. “Investments that consider a more inclusive bottom line outperform more traditional businesses. Much of the potential change must come with many levels of education. Athletes having a different type of pedestal, they have the opportunity to amplify the message.

Jonas says if athletes use the value of their respective brand in line with impact investing, the benefits will be much more lasting, especially for disadvantaged communities that have typically not had access to the opportunities CoPeace can bring.

Los Angeles Lakers legend Magic Johnson and 10 times NBA All-Star Chris Paul has become involved in the impact investing space with one of CoPeace’s investment portfolio companies, Uncharted Power. Johnson is a member of the company’s board of directors, while Paul is an investor.

Jonas believes that sport will continue to serve as a bridge to disadvantaged areas and inspire young people to care more about the world and create more opportunities for them to make a difference.

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“Athletes can have a lot of positive influence on so many communities,” Jonas said. “Chris Paul and Magic Johnson are incredible examples of people who have used their fame in profoundly positive ways, and both have invested in businesses that pave the way for high returns as well as positive social or environmental impact.

Jonas added: “Sport is much more than just an industry in our country. It is a major socio-cultural practice. And the foundation of this socio-cultural practice is the concept of fair play, or an equal playing field. It is this sense of fairness that all sports fans appreciate and share and which can be harnessed to inspire fans of all stripes to fight for justice in areas beyond our stadiums and arenas.