Welcome to Episode 86 of the Investing in Impact podcast. Today, I'm joined by Howard Fischer, Co-Founder and Chief Evangelist of Gratitude Railroad, to discuss his journey from Wall Street to impact investing and how Gratitude Railroad is building a community-driven approach to fund entrepreneurs creating lasting social and environmental change.
About Howard - From Wall Street to Impact
Prior to his work in impact investing, Howard spent over 30 years in traditional finance as the Founder and CEO of Basso Capital Management, a hedge fund specializing in convertible securities.
He previously held senior trading roles at Smith Barney, Drexel Burnham Lambert, and Cohen Feit & Company, and began his career as a Certified Public Accountant in both public and private sectors.
Howard currently serves on the boards of 1% for the Planet, The Carbon Underground, and the Garrison Institute’s Compassionate Leaders in Finance program.
He also advises BrightEdge, the investment fund of the American Cancer Society, and has held board positions with DoneGood, Builders Fund, Atlas Impact Partners, and Blackdirt Capital.
He holds a B.S.E. in Accounting and Finance from the Wharton School at the University of Pennsylvania, and was a Fellow in Harvard University’s Advanced Leadership Initiative in 2013 and 2014.
What Is Gratitude Railroad?
At its core, Gratitude Railroad is a community-driven impact investment firm. The organization invests in early-stage companies and emerging fund managers that are working at the intersection of planetary health, social well-being, and equitable innovation.
Over the past decade, the firm has helped catalyze hundreds of millions of dollars into the impact economy, building a robust portfolio of ventures tackling urgent global challenges—from climate change to economic inequality.
But Gratitude Railroad is more than just a capital allocator. It’s a community—a collective of investors, entrepreneurs, and change agents who bring not only financial resources but also intellectual and social capital to the table.
A Mission Built on Community, Equity, and Action
Gratitude Railroad’s mission is clear:
To grow a diverse and committed community of investors leveraging their intellectual, social, and financial capital to resource entrepreneurs creating enduring, equitable impact.
This mission is backed by a strong set of values that guide every investment decision and community interaction:
- Action: Taking bold steps, even in uncharted territory.
- Collaboration: Building inclusive partnerships that drive deeper, more lasting impact.
- Passion: Showing up fully committed to the work of meaningful change.
A Unique Model in the Impact Space
What sets Gratitude Railroad apart is its community-first approach. Investors aren’t just backers—they're collaborators. Through convenings, workshops, and knowledge-sharing initiatives, the firm creates space for intentional learning and aligned action.
Gratitude Railroad also operates with a distinctive governance model, led by a Board of Stewards and supported by a seasoned investment team, venture partners, and specialized investment committees.
A Look Ahead
As the impact investing landscape continues to grow, Gratitude Railroad remains focused on scaling what works—while constantly exploring new ways to deepen its impact.
Whether it's supporting innovative climate solutions, advancing equity in entrepreneurship, or helping shape the future of regenerative finance, the firm is committed to being both a catalyst and a convener.
In a world where profit and purpose are too often seen as opposing forces, Gratitude Railroad is proving that they can—and must—work together.
