We are thrilled to share that Victoria Carrion officially joined CIIC as our Director of Membership and Partnerships on June 15. Victoria is a seasoned investment professional with a background working in emerging markets and a passion for Catholic social justice. Although you can read Victoria’s bio on our Team page, we thought we’d take a deeper dive and hear from Victoria and CIIC Steering Committee member, Pat Dinneen (who both previously worked together at the Emerging Markets Private Equity Association (EMPEA)) about why they are excited about the future of CIIC.
Victoria, we are so excited to have you joining CIIC. This is a major milestone for us, and I just want to express my gratitude to you for helping take CIIC to the next level! I know your upbringing has shaped your career path and your faith. Tell us a bit about growing up in Nicaragua.
Thank you, Pat - I am honored to be here. I was born in Nicaragua, which is one of the poorest countries in the Western hemisphere, but it is also a warm, tropical country with kind-hearted people. The majority of Nicaraguans are Catholic, and my Catholic faith was a big part of my upbringing. As a child, I attended a Catholic school run by the Sisters of La Pureza de Maria (Purity of the Holy Virgin Mary), a congregation of women religious that was founded by Mother Alberta Giménez in 1874 in Palma de Mallorca, Spain. Many people do not know that Nicaraguans are very devoted to the Virgin Mary. One of the biggest holidays in our country is La Purísima, a nine day celebration in December dedicated to the Immaculate Conception of Mary. Nicaraguans gather in prayer and song for a week of celebration, during which elaborate altars to the Virgin Mary are constructed. The final day is celebrated with fireworks, food and drink with neighbors and friends, and La Gritería, which translates to “the shouting.” People start to shout the question: ¿Quién causa tanta alegría?” (Who causes so much happiness?), and others respond with “La Concepción de María” (Mary’s Conception). Mary is very special to us - she is our queen mother and protector.
What a wonderful tradition. I understand that you and your family eventually left Nicaragua and moved to the US.
Our family was living in Nicaragua during a time of great turmoil, as there was a civil war going on that lasted ten years. As the situation worsened, my family decided to leave and seek political asylum in the United States. I hold a very special place in my heart for refugees, immigrants, those that have been displaced and those that live in conflict situations. I was very fortunate in that my family’s situation was never as dire as some of the stories we see today, but I can empathize with how difficult it is to leave your home.
Tell us about your family’s new chapter in the US and how your continued Catholic education helped cement your faith journey.
When we arrived, we moved to California. We were lucky to have relatives in the US, and my great aunt helped my sister and I enroll into a Catholic school in Los Angeles. Alverno Heights Academy, formerly Alverno High School, was founded by the Sisters of St. Francis in 1960 and was a salvation for me. I found the stability and the continuity that I needed while I was adjusting to a new environment, new settings and a new language. It was a loving, welcoming community that made me feel accepted and appreciated. It also gave me a spiritual and academic foundation to go out into the world as a socially conscious and responsible citizen. Through life’s ups and downs, there have been two constants in my life that have never failed me, and that has been my family and my faith.
We certainly hope that CIIC will be the third constant! You’ve spent your career working with individual and institutional investors for more than 15 years in client relationship roles. What drew you to the idea of impact investing?
I started following impact investing when the concept as we know it today was being more broadly discussed among investor circles. Some of the clients I was working with in Latin America were looking at investment opportunities in affordable high-quality education for low-income, college-bound students. The idea that profit-seeking investments could generate positive social outcomes was really compelling, but it was also idealistic. I thought to myself, “Could this really work as a way to drive positive development?” The question was compelling enough to lead me to explore the market professionally. My first opportunity to experience impact investing was from the perspective of a membership association of investors that were making private investments in emerging and frontier markets at EMPEA, and that’s where I met you!
Yes, we had the pleasure of working together on the Impact Investing Council at EMPEA. What did you learn from your experience working with members on the council?
It was really interesting. I learned so much from you and all of the asset owners and managers that were actively making impact investments in emerging markets and trying to lift and scale impact enterprises. Hearing about their stories, celebrating their successes in raising funds, as well as learning about their struggles, was really valuable to me. One of the things that struck me most was the spirit of collaboration that they brought to the table - how they were willing to help each other improve their practice and collectively help advance the field.
Though we were working together at EMPEA in a secular environment, we were both driven by our deep faith. It wasn’t until CIIC reconnected us that we discovered that bond through impact investing! What inspired you to apply for the Director position?
CIIC’s mission really resonated with me as a Catholic, as an impact investing advocate, and as an impact investor myself. I was excited about the opportunity in the Director role to serve a community, nurture its growth, and to spread the message of Catholic impact investing. We have a unique opportunity at CIIC where people of similar faith can come together to discuss their journey: whether they’re curious about impact investing, they’ve started making investments or they’re well advanced in their practice.
Listening to your story reminds me that our work is part of our faith. What do you think is the unique differentiation of Catholic impact investing from secular impact investing?
CIIC is a place where people can share their stories, what they’ve learned, what’s worked and what hasn’t, how they’ve overcome barriers and reservations, and really demonstrate the value that impact investing can have in serving the mission of their Catholic organization. For a Catholic investor, it is a moral obligation to put into action what we learn from Catholic social teachings and the Gospel. We need to find ways to deploy capital to help other, more vulnerable populations find solutions to the climate crisis. We need to respond to the call of Pope Francis to stand up for our environment. As you said, we have an obligation to do this work through our faith. When we see Catholic institutions globally making new impact commitments and participating in our programs and events because they feel it is adding value to their mission and the communities they serve, then we can say we have succeeded.
As you start to settle into your role, we want to encourage the CIIC community to connect with you. What are three questions or learnings you’re looking for as you start this role?
One question I have for our participating members is, “What do you hope to gain the most from participating in this community?” Whether it is learning or sharing best practices, connecting with like-minded peers, help in identifying investment opportunities or all of the above and beyond, we want to understand their needs and expectations so that we can provide them with a meaningful and valuable experience.
I’m also interested in learning about how Catholic impact investing is evolving at this time of great social and economic change, as the COVID-19 pandemic continues to unfold and the movement to advance racial justice gains momentum. As we all work individually and collectively on these fronts, what issues or questions can we address as a community to help each other learn, improve and take action?
Finally, I would like to encourage members to take a tour of our website www.catholicimpact.org and let us know what they think. We want to make it a dynamic, helpful and relevant source of information and resources. We just added video resources, and we’re thinking about new features to enhance collaboration and connectivity.
Thank you, Pat, for the opportunity to share my story, and thank you to our CIIC Community for sharing your thoughts and ideas. I very much look forward to hearing from you!
