As I celebrate my one-year anniversary as CEO of NESsT, I wanted to reflect on what it means to lead a purpose-driven organization defined by vision and impact. NESsT’s founders, Nicole Etchart and Lee Davis, recognized opportunities where others saw barriers, demonstrating that capital, when deployed with intention, can drive systemic change and empower communities to thrive. Their legacy is a blueprint for how to support businesses with strong, fully formed missions, helping them scale and become more impactful. NESsT believes in these enterprises, trusts their vision, and empowers them to grow and drive meaningful change.
This past year, I have reflected deeply on what it means to lead such an organization. The question I’ve returned to, again and again, is: How do we honor the foundation that NESsT was built on while ensuring we evolve to meet today’s challenges? That balance—between legacy and innovation—has become the guiding thread for everything we do.
Dueck (third from left, front row) with NESsT staff and IKEA Social Entrepreneurship in Romania, January 2024
This year, we have seen incredible progress and expansion across our programs. From the launch of the Lirio Fund in Brazil to the Violet Fund expansion in Poland, NESsT has taken significant steps to scale its impact. The 2024 portfolio now supports 89 social enterprises, creating 1,000 new jobs and protecting another 1,000 hectares of land in the Amazon—a quantum leap forward in our work with the Amazonia Initiative and the Lirio Fund.
We are also breaking new ground in renewable energy and Indigenous partnerships, sparking ideas for collaboration not only with the enterprises we work with but also within our own team. Colombia is advancing blended finance strategies, Ecuador and Chile are focusing on initiatives to support women and older adults, and partnerships with organizations like the Climate and Land Use Alliance (CLUA) and the Swedish International Development Cooperation Agency (Sida) are driving new opportunities. The expansion of our portfolio in Central and Eastern Europe to support communities facing migration is another example of how NESsT is at the forefront of responding to global challenges with agility and compassion.
This year has reminded us that our natural state is evolution. New perspectives, new ways of working, and new ideas are what make NESsT so impactful and relevant.
Honoring Legacy Through Continued Evolution
Dueck (center) with Ricardo Calderón (Agrosolidaria) and Juan Pablo Manrique (NESsT Amazonia) at Latimpacto 2024 in Oaxaca, Mexico
NESsT was created with the vision that businesses could thrive while prioritizing social and environmental outcomes. That visionary approach continues to guide us today as we actively choose to evolve and grow. Our evolution is driven by the belief in co-creating solutions alongside the people and communities we serve, ensuring that our work remains both impactful and responsive to their needs. We are a global organization with over 50 employees and a portfolio that spans regions and industries.
Yet the essence of NESsT remains unchanged: we are builders. Builders of ecosystems, opportunities, and relationships that enable businesses to deliver both financial returns and life-changing impact. It’s this dual focus—on honoring where we came from and building for the future—that gives NESsT its strength.
Lessons in Leadership and Growth
As I reflect on this first year, I see a common thread of learning how to hold space for growth—for the organization, for our partners, and for myself as a leader. That growth has underscored some important lessons:
Partnership as the Cornerstone of Impact: NESsT’s work has always been about partnership. Whether collaborating with social enterprises, investors, or local communities, we don’t just invest capital—we invest in relationships. True impact happens when trust and shared vision drive every decision.
The Power of Intentional Evolution: While we stand on our foundation, we are constantly evolving to meet new realities. This year has been about asking hard questions: What does the world need from NESsT today? and How do we continue to innovate without losing sight of our mission? The answers guide us as we refine our strategies and adapt to a changing landscape.
Building, Not Betting: The traditional investment model is often framed as a gamble—a series of high-risk bets in search of one big win. NESsT’s model is different. We are not just betting on enterprises; we are helping to strengthen them. By providing patient capital, strategic guidance, and operational support, we help social enterprises grow sustainably, creating ripple effects that last generations.
Balancing Ambition with Humanity: Working at NESsT comes with a shared sense of urgency—we believe in tackling the world’s biggest challenges. But achieving impact also requires thoughtful, strategic steps and an unwavering commitment to people—the entrepreneurs, communities, and team members who make this work possible.
Building On a Legacy of Purpose
Looking ahead, I see NESsT as a bridge between what has been and what is possible. The challenges we face—climate change, inequality, and systemic barriers—are enormous, but they are not insurmountable. NESsT is uniquely positioned to meet this moment. By empowering social enterprises, we are not just responding to crises—we are creating solutions.
Our priorities moving forward are clear:
Growing our reach: Expanding the number of enterprises we support and increasing our footprint in underserved regions where our model has the most transformative potential.
Deepening our impact: Continuing to invest in areas like gender equity, climate resilience, and dignified employment to address the root causes of inequality and environmental degradation.
Advancing the conversation: Changing the narrative around impact investing and demonstrating that profit and purpose are not opposites—they are interdependent.
Carrying the Thread Forward
The journey of this past year has reaffirmed my belief that NESsT is more than just an investor—we are a catalyst for change. We help social enterprises see what’s possible, and we stand alongside them as they turn that possibility into reality. That work requires vision, resilience, and a commitment to long-term solutions.
At NESsT, we are not building for the short-term—we are building for the next generation. Every decision we make—every investment, partnership, and program—is driven by our commitment to creating the conditions for the world we want to build.
As I enter a new year as CEO, NESsT’s roots are strong, its mission is clear, and its potential is limitless. I’m excited to build on this incredible foundation and move the organization forward—strengthening our strategies, deepening our impact, and ensuring NESsT continues to evolve and thrive for years to come.