Raise Capital
Products
Resources
Impact Investing - The Future Investor
August 17, 2022
Impact investing is the practice of making purposeful investments that generate financial returns, while also helping to achieve social or environmental benefits — exemplifying the idea of “doing well while doing good.”
Fidelity Charitable conducted a survey among more than 1,200 investors to understand their approach to investing and social change, and the key findings outline how investors engage in impact investing today and what it could mean for the future.
Insight #1 - Millennials are putting their $$ where their values are
Millennials are leading the way in participating in impact investing, as it’s an effective avenue to align their values with their financial choices. Currently, 34% of investors participate in impact investing, but the vast majority of those investors are millennials. Making a conscious effort to balance the importance of returns on their investment with a company's track record is a key consideration for this generation.
.jpeg)
Insight #2 - Impact Investing is seen as a better change agent than charity
As many Millennials consider themselves a ‘global citizen’, this attitude translates into how and where they spent their time and money. One key finding in explaining this generational shift towards impact investing, is they believe this tactic has more power to create change than traditional charitable donations.
It is important to note that someone younger and just embarking on their investment journey will have different objectives than an investor about to tap into their investments to liqudate/retire. A person that is focused on their investments securing their retirement plans in the next five years will act very differently than someone who can take on more risk and won’t tap into the funds for 30 years or more.
Insight #3 - Impact Investing is growing in all generations
An interesting finding saw that across all generations, investors are looking to expand their impact allocations in the next year—and others could get started for the first time. 40% of those who have not made an impact investment are likely to consider it next year. This phenomenon is growing in many ‘underground’ investing channels like Reddit and Discord, where the focus is on disrupting what is seen as unfair or ‘gate-keeping’ type practices.
Those who are not yet familiar with impact investing are hesitant to get involved - and 60% surveyed say they “aren’t likely to consider participating in the next year”. It is evident that the hesitation to participate hinges more on lack of knowledge than opposition to the concept. Only a small portion disagree with the fundamental concept of impact investing - saying that investment decisions should be based solely on potential returns or that impact investing is not a viable avenue to solve problems. Such small minorities can indicate a growing awareness and normalization of impact investing among everyday consumers.
Client interest in impact investing is showing no signs of slowing down - particularly as Millennials gradually take over a greater share of wealth.
It is worth noting that those already participating in impact investing display significant satisfaction with the outcomes - over 60% of participants state the approach is very meaningful to them.
Insight #4 - Predominant theme is environmental
What kinds of themes are these impact investors focused on when selecting companies to invest in? Predominantly environmental impact is the focus, with 51% of the respondents saying their portfolio includes companies with a focus on the environment. Next up were social themes such as racial equity, social justice, or faith-based values. The third major theme were companies and organizations that have a proven corporate oversight or governance that aligns with a cause - like diversity in the workplace or global inclusion with regards to innovation and technology.
The Future is Impact Investing
This trend will continue to grow and soon we will see portfolios that may represent a majority of impact investments. This will likely spill over from mutual funds, stocks and bonds into pre-IPO opportunities like Equity Crowdfunding and new impact-focused VC firms.
Social responsibility is a key pillar of the Millennial generation and ‘doing no harm’ are threads woven into all aspects of life - investing is no different.
When VCs said no, Monogram turned to retail investors. That decision powered their rise from startup to publicly traded company—and even helped them raise an additional $13M privately after their Nasdaq debut.
The Challenge: Raising Capital on Their Terms
The Challenge: Raising on Their Terms
Monogram Technologies was founded with a bold vision: to revolutionize orthopedic surgery with a robotic joint replacement system using custom 3D-printed joints. The market for this technology is massive—approximately $19.6 billion, with over 1 million knee replacements per year. But it's a capital-intensive, regulation-heavy space—and traditional VCs weren't biting.
Instead of compromising, co-founders Dr. Doug Unis and Ben Sexson went all-in on a different path: retail capital. Why?
- Control and ownership: Not only were they able to raise the capital they needed to grow the business—they did it on their own terms.
- Long-term asset: They wanted to build an army of true believers who wanted to see the company succeed and would continue to reinvest over the years.
- A value-add network: Raising from retail allowed Monogram to amass a waiting list of thousands of patients eager to participate in future trials.
- Aligned incentives: Their mission to improve patient outcomes and build a better future for those struggling with joint pain resonated with retail investors.
The Power of Retail: Monogram's Capital Journey
| Start Date | End Date | Type | Platform | Amount Raised | # Investors |
|---|---|---|---|---|---|
| 3/13/19 | 3/31/20 | A+ | SeedInvest | $14,588,668 | 6,000 |
| 11/16/20 | 1/16/21 | A+ | StartEngine | $2,965,501 | 8,000 |
| 1/17/21 | 2/18/22 | A+ | StartEngine | $23,647,853 | 14,082 |
| 7/15/22 | 3/16/23 | CF | DealMaker | $4,673,000 | 2,249 |
| 3/1/23 | 4/8/23 | A+ | Republic | $232,275 | 120 |
| 3/1/23 | 5/23/23 | A+ | DealMaker | $15,958,364 | 5,198 |
| 5/18/23 | - | Nasdaq listing | |||
| 7/24 | 10/24 | Unit Offering | DealMaker | $12,990,103 | 2,745 |
Monogram Capital Raise Timeline
Monogram's first direct-to-investor raise was a $14.6M round in 2019. Since then, Monogram has raised retail capital six additional times, using Reg A+ as a springboard to a Nasdaq listing in 2023.
Each raise brought in new believers—and more importantly, kept bringing them back. That's the long-term power of retail capital. It's not just one campaign—it's a compounding asset that grows with the business.
$80M+
Raised across seven campaigns
~40,000
Investors championing Monogram's vision
20%
Of each raise came from previous investors
Marketing Excellence
DealMaker Reach provided strategic investor acquisition services, helping Monogram connect with the right audience through high-impact channels.
Premium Publications
Targeted campaigns in premium publications like Morning Brew captured qualified investors
High-Engagement Webinars
Engaging events that generated over $4.3 million in investments
Community Building
Strategic approaches that fostered a loyal shareholder base
Investment Momentum
Innovative approaches that amplified investment momentum
Monogram's Journey to Success
Monogram's journey has been defined by relentless innovation, strategic fundraising, and breakthrough advancements in robotic-assisted joint replacement. From early-stage research to a Nasdaq listing and beyond, Monogram's milestones reflect its evolution into a pioneering force in orthopedic surgery:
- Filed its first patent application in 2017
- Conducted clinical studies at UCLA and University of Nebraska
- Expanded the team with key hires
- Attracted a top-tier advisory board to guide clinical innovations
- Signed their first distribution partnerships
- Made headlines with cutting-edge live demonstrations
- Secured 501(k) FDA clearance for the mBôs surgical system
Nasdaq Debut & Beyond
In May 2023, Monogram Orthopaedics successfully listed on the Nasdaq—a significant milestone offering liquidity and growth opportunities for the company.
For most companies, that would be the end of their story in the private markets. But for Monogram, it was just the beginning of a new chapter.
Public perception says you can't raise privately post-IPO. Monogram proved that wrong.
Defying conventional fundraising norms, Monogram raised an additional $13 million from private investors, powered by DealMaker. This move highlighted the power of a dedicated investor community and provided additional strategic growth capital. Meanwhile, strategic digital marketing for the private offering helped boost the public share price—a win-win for the company and its investors, both public and private.
This was retail capital at its best: strategic, repeatable, and aligned.
One vision. Zero compromises.
This wasn't a one-time raise. It was a multi-year capital strategy.
Retail capital helped Monogram:
- Go from concept to commercialization without relying on VCs
- Retain ownership and control in a high-burn industry
- Build a base of loyal shareholders who invested not once, but over and over again
- Uplist to the Nasdaq, and still keep raising post-IPO
This is what makes retail capital different. It doesn't expire—it compounds. And DealMaker is built to maximize that long-term value.
Ready to Raise Capital on Your Terms?
Whether you're pre-revenue or post-IPO, DealMaker gives you the infrastructure, support, and strategy to raise from the people who believe in you most.
Explore Raising Capital with DealMaker.png)
.png)
Your submission has been received. We will reach out to you via email to schedule a call.
Oops! Something went wrong while submitting the form.