In 2006, while managing an impact venture capital fund at JPMorgan Chase, Nancy Pfund decided to invest in a clean energy start-up that was developing electric vehicles. Colleagues were sceptical. Would electric cars, they asked, really transform the auto industry? No, was the consensus. But today, almost one in five cars sold globally is electric. And the name of the start-up? Tesla.
For Pfund, who in 2008 founded impact-focused venture capital firm DBL P