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Gratitude Railroad

Impact investor

Seed–Growth · 17 people tracked

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Investment thesis

Gratitude Railroad invests in early- to growth-stage companies and emerging private market funds dedicated to addressing social and environmental challenges. The firm connects asset owners who are committed to learning, collaborating, and deploying capital for measurable social and environmental impact, supported by an experienced team dedicated to the mission.

Source: firm website, verified Aug 3, 2026.

Stage
Seed–Growth
Leads rounds
Follows
Instruments
Equity
Tracked investments
66

Team · 17 people

from the firm's website
Eric Jacobsen· Steward, Co-Founder and Conductor of Purpose

Eric Jacobsen is co-founder of Gratitude Railroad and co-founder of Dolphin Capital, a private equity firm investing in high-growth companies in Utah's Mountain West region. He previously founded and led TNT Sound (sold in 1983), served as Vice President of MECA Software (later sold to H&R Block in 1994), and founded Home Financial Network (sold to Sybase in 2000). He holds a bachelor's degree from Stanford University and completed Harvard University's Advanced Leadership Initiative.

Howard Fischer· Steward, Co-Founder and Chief Evangelist

Howard Fischer is co-founder and Chief Evangelist of Gratitude Railroad and a member of its Board of Stewards. He founded and formerly led Basso Capital Management, a hedge fund management firm where he spent 30 years overseeing marketing, convertible securities hedge funds, and a SPAC arbitrage fund; earlier he co-headed the institutional convertible trading desk at Smith Barney and traded convertibles at Drexel Burnham Lambert and Cohen Feit & Company, having begun his career as a Certified Public Accountant. He holds a B.S.E. in Accounting and Finance from the Wharton School at the University of Pennsylvania and was a 2013 and 2014 fellow in Harvard University's Advanced Leadership Initiative.

Rebekah Saul Butler· Managing Partner

Rebekah Saul Butler is Managing Partner and Co-CEO at Gratitude Railroad, an impact investment firm, where she oversees investments, strategy, and operations. She previously served as Co-Executive Director and Chief Investment Officer of The Grove Foundation and Managing Director of Grove Action Fund, and earlier worked as a management consultant at Deloitte Consulting and as a reproductive health policy analyst at The Guttmacher Institute. She holds a BA in Sociology and Spanish from Stanford University and an MBA and MPH from UC Berkeley.

Thomas Knowles· Managing Partner

Thomas Knowles is Managing Partner and Co-CEO of Gratitude Railroad, which he joined in January 2015. He previously led corporate development and strategy at outdoor e-commerce company Backcountry and SaaS company Liveperson, and began his career in investing roles at SVB Capital, the early-stage venture fund of Silicon Valley Bank. He holds an Economics degree from Santa Clara University.

Emma Leavy· Principal

Emma Leavy holds an MBA with a Certificate in Sustainable Investing from UC Berkeley's Haas School of Business, and a postgraduate degree in Peace & Conflict Studies from the University of St. Andrews, where she was a fully funded R&A Ransome Scholar. She began her career as a management consultant at the McChrystal Group and later led domestic financial inclusion programming at the Clinton Global Initiative and served as Director of Grant Programs at Comic Relief, where she oversaw a large social impact investment portfolio. During her MBA she interned at Gratitude Railroad and ZX Ventures and held roles with Haas-affiliated impact and ESG investment funds.

Jessie Tang· Principal and Head of Strategic Initiatives

Jessie Tang is Principal and Head of Strategic Initiatives at Gratitude Railroad, where she runs the firm's Inclusive Capital strategy directing investments toward diverse-led and emerging impact funds and manages its community of investors and members. Before Gratitude she led corporate fundraising and partnerships at the workforce non-profit Pursuit, was a founding member at the startup Smart Vision Labs, and began her career at BlackRock as chief of staff to the CEO. She holds a BA from Duke University and an MBA from Berkeley Haas.

Bill Beecher· Steward, Venture Partner

Bill Beecher is a Venture Partner and Steward at Gratitude Railroad who currently focuses on serving on boards of directors, advising, and investing. He previously served as President of Vistaar Technologies, a price management software company, and as Executive Vice President of Operations and CFO at i2 Technologies, a supply chain software company. He earlier held operations and finance roles and practiced law, and holds degrees from the University at Albany and Cornell Law School.

Rachel Sheinbein· Venture Partner

Rachel Sheinbein is an angel investor and advisor who invests independently and through Very Serious Ventures and Broadway Angels, and has co-led two Portfolia funds. She previously co-founded and served as Managing Director of Makeda Capital, was a Partner at clean technology venture firm CMEA Capital, and spent nine years at Intel working in wastewater systems, environmental health and safety, and supply chain IT. She holds a Chemical Engineering degree from the University of Pennsylvania and earned an MBA and a Masters in Civil and Environmental Engineering from MIT.

Aaron Walker· Stewardin

Aaron Walker is a three-time founder who has worked with early-stage companies. He is Managing Partner at the Ruthless for Good Fund, an early-stage fund focused on education, work, and access, and previously founded Camelback Ventures, where he ran an accelerator supporting over 140 founders. His background also includes work as a classroom teacher and as a practicing attorney.

Hanna Rassouli· Community and Operations Associate

Hanna Rassouli is the Community and Operations Associate at Gratitude Railroad, where she works with the firm's investors and manages internal team operations. She previously served as Outreach and Events Manager at Harvard Kennedy School's Women and Public Policy Program, handling member engagement, fundraising, and special events. She holds a BA in Women's and Gender Studies and Japanese Language and Culture from Wellesley College (2018).

Jane Pigott· Steward

Jane Pigott practiced environmental law for over two decades at major global law firms before founding her own consulting business in 2001, focused on talent issues such as recruitment, retention, development, and promotion. She has served on the boards of various mutual fund complexes for more than 30 years and currently chairs the board of the Van Eck family of mutual funds. She engages in impact investing, backing businesses that operate sustainably and aim to expand equity and access to financial capital, housing, healthcare, and education.

Jane Su· Investment Committee Member

Jane Su has more than 20 years of investment experience across public and private companies internationally. She was previously a Partner and member of the Management and Investment Committees at Blum Capital Partners, and earlier made structured investments for Banc of America Equity Partners in Singapore and Morgan Stanley Capital Partners in Hong Kong, focusing largely on companies in Asian emerging markets. She currently serves as CFO of Verge Aero and holds a BA in Computer Science and Philosophy from Dartmouth College and an MBA from Stanford Graduate School of Business.

Jenna Bussman Wise· Steward, Investment Committee Member

Jenna Bussman Wise has over 20 years of experience in institutional asset management, focusing on strategic asset allocation, alternative investments, and investment diligence and research. She most recently led public investments for a New York City-based single family office. She holds an MBA from NYU Stern School of Business, with specializations in Financial Instruments & Markets and Leadership & Change Management, and a BA in Economics from Hamilton College.

Olympia De Castro· Steward

Olympia De Castro is an impact investor focused on directing capital toward environmental and social outcomes. She currently serves as CFO, CPO, Head of Legal, and Treasurer of the Board at Datacubed Health, an eClinical technology company, and is Co-Founder of BXVentures, a climate tech company builder. She previously co-founded Community Investment Management, an impact investment manager providing debt capital for responsible lending innovation, and began her career at Goldman Sachs. She holds a master's in Economic and Political Development from Columbia University and a bachelor's in Finance from the University of Miami.

Peter Knight· Steward

Peter Knight is a Founding Partner of Generation Investment Management, a firm focused on sustainable investing across public and private markets, where he led the U.S. business until retiring in 2017. Earlier he was a Managing Director at Met West Financial, began his career at the Antitrust Division of the U.S. Department of Justice, and served as Chief of Staff to Al Gore as well as Campaign Manager for President Clinton's 1996 re-election campaign. He holds a J.D. from Georgetown University Law School and a B.A. from Cornell University.

Scott Pinkus· Steward

Scott Pinkus is a former partner at Goldman Sachs, where he worked from 1986 until his retirement in 2000, building the firm's quantitative finance capabilities and founding its Credit Derivative business, Fixed Income Research Department, and Mortgage Securities Research group; he previously held similar roles at Morgan Stanley and Merrill Lynch. He now invests in and advises early-stage business ventures with a focus on sustainable and impact investing. He holds an MBA and a B.S. in Economics from the Wharton School at the University of Pennsylvania.

Tom Kuo· Steward

Tom Kuo has worked as an investor and advisor to private and public companies for 25 years, beginning impact investing in 2001. He co-founded A-Street, which backs companies focused on Pre K-12 learning solutions, and previously served as a Managing Director at Berkshire Partners and worked with General Atlantic and Goldman Sachs's Urban Investment Group. He holds an A.B. in Environmental Science and Public Policy from Harvard College and an MBA from Stanford Graduate School of Business.

What they invest in

from 16 of 66 portfolio companies

Circular Economy ×4Cleantech ×4FoodTech ×4Healthtech ×4Impact & Social Good ×4Climate Tech ×3Consumer ×3Energy ×2

HQs:United States×10

Investments · 66 tracked

founders shown can be your intro path
Aceleroacelero.netin
Acelero Learning
Atlasorganicsatlasorganics.netin
Bettani Farmsbettani.com

Bettani produces dairy-free cheese using a proprietary plant-based protein derived from regenerative crop seeds, offering products with comparable taste, texture, and protein content to conventional dairy cheese.

CleantechFoodTechImpact & Social Good

Bettani Farms
Blue Ocean Gearblueoceangear.comin
Blue Ocean Gear
brandvergeloliware.comin

Loliware develops SEA Tech resins and manufactures products using its proprietary plastic-free material technology to help customers meet ESG and sustainability goals.

Circular EconomyCleantechNew Materials

Brightup
BrightUpgetbrightup.com
Cadence Health
Cadence Health Liberate the Pillcadenceotc.comin

Cadence provides over-the-counter contraceptive products including morning-after pills, pregnancy tests, and UTI relief kits distributed through convenience stores.

ConsumerFemTechHealthtech

Capshiftcapshift.comin
Carallel
Carallelcarallel.com

HealthtechChicago, US

Shara Cohen(President and CEO)

BoardJohn Banta(Director)Todd Johnson(Director)Emma Cartmell(Director)

Clear Ballot
Clearballotclearballot.comin𝕏

Clear Ballot develops election technology software and hardware systems for election officials and jurisdictions.

Enterprise SoftwareGovTech

Cofertility
Cofertilitycofertility.comin𝕏

Cofertility connects intended parents seeking egg donors with women who want to freeze their eggs for their own future, offering a "Split" program where women can donate eggs while subsidizing their own egg-freezing costs.

FemTechHealthtechNew York, US

Company Exited
Everytable
Everytableeverytable.comin𝕏

Everytable prepares fresh, scratch-cooked meals at approximately $7 per serving, delivered free to workplaces or available for pickup, with menus inspired by culturally diverse communities.

ConsumerFoodTech

First Womens Bank
Firstwomensfirstwomens.bankin
Flourishflourish.health
Flourish Health Inc
Fund
Glacier
Glacierendwaste.ioin𝕏

Glacier develops AI-powered robotic systems for material recovery facilities (MRFs) to improve recycling sorting and material quality.

AI & Machine LearningCircular EconomyRobotics

Goodrgoodr.coin

Goodr operates a logistics platform and network that tracks and redistributes surplus food from organizations to people experiencing food insecurity, while also managing inedible food waste diversion.

Climate TechFoodTechImpact & Social GoodLogistics & Supply ChainAtlanta, US

Jasmine Crowe-HoustonJasmine Crowe(Executive Officer, Director)

Goodr
Imperfect Foodsimperfectfoods.com𝕏

Imperfect Foods is a grocery delivery service that sources surplus and cosmetically imperfect food items directly from farmers and producers, offering them at discounted prices to consumers while reducing food waste.

Circular EconomyE-commerceFoodTech

Itselectricitselectric.usin𝕏

it's electric installs and maintains Level 2 EV chargers on property owners' curbs across U.S. cities, analyzing site suitability and handling permitting and maintenance at no cost to property owners.

CleantechEnergyMobility & Transportation

Itselectric
Joint Venture
Little Otter
Littleotterhealthlittleotterhealth.comin

Little Otter Health provides whole-family mental health care including therapy, psychiatric consultation, and parent coaching delivered via telehealth by licensed clinicians.

Digital HealthHealthtechMental Health

Dr. Helen Egger(Co-founder and Chief Medical & Scientific Officer)

Loliware
Mae
Maemeetmae.comin
Mango Materialsmangomaterials.comin𝕏

Mango Materials develops biopolymers and biocomposites as sustainable alternatives to conventional plastics for consumer and industrial applications.

BiotechCircular EconomyClimate TechNew MaterialsVacaville, US

Mango Materials
Manifest
Manifestedmanifested.comin
Ncxncx.com
Ncx
Oceans Halo
Oceanshalooceanshalo.comin
Origin
Pallet Shelterspalletshelter.com

Pallet builds temporary modular shelter villages with 24/7 case management support to help people experiencing homelessness transition to permanent housing.

Construction TechImpact & Social GoodLos Angeles, US

Pallet Shelters
Pigeonly
Pigeonlypigeonly.comin𝕏

Pigeonly provides technology products that enable families and friends to communicate affordably with incarcerated individuals through low-cost phone calls, photo sharing, letters, postcards, and greeting cards.

ConsumerImpact & Social GoodSaaSSocialLas Vegas, US

Frederick Hutson(Founder/CEO)inAlfonzo Brooks(Co-Founder/Head of Finance)inClifford Keeney(Founder)inBenjamin Jealous(Director)Mitchell Kapor(Director)

BoardErik Moore(Director)

Planktonenergyplanktonenergy.comin𝕏
Recomposerecompose.lifein
Retirableretirable.comin𝕏

New York, US

Stephanie Tyler Choo(Director)Robert Tyler End(Executive Officer, Director)Ian Tyler Yamey(Executive Officer, Director)Matt Tyler Perlman(Director)Stephany Tyler Kirkpatrick(Director)

Retirable
Smartlamsmartlam.com
Smartlam North America
Solsticesolstice.usin𝕏

Solstice connects households and businesses to local solar farms through a software platform that qualifies subscribers based on energy needs rather than credit scores, enabling bill savings through solar credits.

CleantechClimate TechEnergySaaSBoston, US

Sandhya Murali(Co-founder)Steph Speirs(Co-founder)

Frequently asked questions

What stage does Gratitude Railroad invest at?
Gratitude Railroad invests at the Seed, Series A, Series B, Series C, Growth stages.
What sectors does Gratitude Railroad focus on?
Gratitude Railroad focuses on Climate Tech, Impact & Social Good.
Does Gratitude Railroad lead rounds?
Gratitude Railroad typically participates in rounds rather than leading them.

Media · Podcasts & interviews

featuring the team

THOMAS KNOWLES OF GRATITUDE RAILROAD: ON IMPACT AND ABUNDANCE - YouTube

Fiftyfacespod · Thomas Knowles

Episode 345: Thomas Knowles of Gratitude Railroad: on Impact and Abundance - YouTube

Aoifinn Devitt · Thomas Knowles

Howard Fischer - Co-Founder of Gratitude Railroad Impact Investment Firm - YouTube

Causeartist · Howard Fischer

Episode 205: Howard Fischer of The Gratitude Railroad: Refocusing the Intention of Capitalism as ... - YouTube

Aoifinn Devitt · Howard Fischer

Images

Gratitude Railroad photoGratitude Railroad photoGratitude Railroad photoGratitude Railroad photoGratitude Railroad photoGratitude Railroad photo

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