KL Felicitas Foundation

Investment decisions are made directly by co-founders Charly and Lisa Kleissner. The foundation does not maintain a separate investment staff or outside CIO; the Kleissners evaluate opportunities personally, drawing on Charly Kleissner's technology-operating background and both founders' deep networks in the impact investing community, including through their roles at Toniic and the GIIN.

Deal flow relies heavily on the Kleissners' position within the networks they helped build, particularly Toniic and the Global Impact Investing Network. They also participate actively in European Business Angel Network (EBAN) impact panels and Mission Investors Exchange. The foundation has publicly indicated a preference for referrals from trusted co-investors and fund managers already in their portfolio rather than open inbound pitches.

The foundation uses both. It commits to impact-oriented venture capital and private equity funds and also makes direct co-investments, loans, and special-purpose vehicle participations. One example is the direct loan to MA'O Organic Farms in Hawaii, structured outside a traditional fund vehicle.

Charly and Lisa Kleissner co-founded Toniic, a global impact investor network, and Charly Kleissner is a co-founder of the Global Impact Investing Network. These are separate entities from the foundation, but the Kleissners' leadership in both creates overlapping deal flow and standard-setting influence. The foundation's portfolio choices are often profiled as case studies through these organizations.

The foundation's corpus originates from Charly Kleissner's career as a technology executive, notably his role at Ariba, which went public during the dot-com era, and from subsequent technology ventures. The wealth was transferred into the foundation structure in 2000 with the explicit intent to deploy it for social and environmental returns.

KL Felicitas Foundation participated in a multi-year case study series with the GIIN and Sonen Capital that disclosed its full portfolio and comparative financial performance against a traditional 60/40 benchmark. The reports showed market-rate returns alongside impact metrics. The foundation does not appear to maintain a running public quarterly portfolio disclosure, but its historic transparency has been extensive for a private foundation of its size.

Public reporting does not specify a formal minimum check size. Given its small balance sheet and stage coverage from seed to growth, direct investments are typically small, often under $250,000 per entity, while fund commitments may be sized according to standard limited-partner minimums for early-stage impact funds. The foundation's own case studies characterize its approach as deploying proportionally modest amounts per investment.