Board Members
Phyllis Kurlander Costanza
Cofounder & President
Phyllis cofounded OutcomesX, with long-time collaborator Jason Saul to create the first marketplace to buy and sell, standardized and verified social outcomes.
She joined OutcomesX from UBS where she served more than a decade as CEO of UBS Optimus Foundation and Global Head of Social Impact. With her team, she built the foundation’s social impact portfolio around social finance, increasing grantmaking from $10m to almost $200m per year. The foundation’s innovations included implementing the first-of-its-kind development impact bond in education and social success note. Prior to joining UBS, Phyllis was a senior executive and board member of the Children's Investment Fund Foundation (CIFF). She also worked in management consulting and the public sector, serving as New York City Representative for New York State Governor Mario Cuomo.
Phyllis has volunteered extensively as: the board chair of Educate Girls US; board member of the International Center for Research on Women (ICRW), and UBS Optimus Foundation UK; an advisory board member to the Education Outcomes Fund for Africa and the Middle East; and a member of the Council of Foreign Relations.
She holds a masters degree in public policy from the Harvard Kennedy School, where she and cofounder Jason first collaborated.
Phyllis can be reached at phyllis@outcomesx.com
Jason Saul
Cofounder & CEO
Jason Saul cofounded OutcomesX with long-time collaborator Phyllis Costanza as a natural next step in his quest to improve global measurement of social impact. He also serves as founder and executive director of the Center for Impact Sciences at The University of Chicago and co-founder and lead consultant for the Impact Genome Project@Mission Measurement.
Jason has authored numerous books and articles on social impact measurement and strategy, including: Benchmarking for Nonprofits: How to Manage, Measure and Improve Performance (Fieldstone Press 2006); Social Innovation, Inc.: Five Strategies to Drive Business Value through Social Change (Jossey-Bass, October 2010); and The End of Fundraising: How to Raise More by Selling Your Impact (Jossey-Bass, February 2011).
Jason’s awards include receiving the Harry S. Truman scholarship for leadership and public service, and being named a Leadership Greater Chicago fellow. In 2008, Crain’s Chicago Business recognized Jason as one of “40 under 40” business leaders, and in 2010, Businessweek named him one of the Nation’s 25 Most Promising Social Entrepreneurs.
Jason holds a law degree from the University of Virginia School of Law, a masters degree in public policy from the Harvard Kennedy School, where he first collaborated with cofounder Phyllis, and a bachelors degree in Government and French Literature from Cornell University.
Jason can be reached at jsaul@missionmeasurement.com
William J. Stewart
Executive Chair
William J. Stewart, chair of OutcomesX, has spent his career financing technology advances for business and society. He is a board member and former executive chair of Xpansiv, where he has raised more than $700M since 2017. Recently, FIUTURX, a spin-out of Xpansiv, named him executive chair, where he'll play a similar role driving growth.
Will began his career in 1983 at NEC Corporation headquarters in Tokyo, helping to plan NEC's global computer and communications market expansion. He later founded Asia Pacific Ventures (APV) in Silicon Valley, which has invested in more than 400 early-stage and growth technology companies in the U.S., Japan, Asia, and Europe. APV has raised more than $5 billion in growth capital, equity, debt, licensing, and joint venture investment over the past 30 years. Will personally founded and co-managed five early-stage APV technology-focused venture capital funds and two venture debt funds.
He has been a board member for more than 75 private and public international companies over the span of his professional technology and finance career, and brings to all that he undertakes an abundance of global corporate growth, planning, and financial experience across a broad technology base of investing.
Will holds a BA in Economics from St. Anselm College, Manchester, NH and an MBA in Finance from Suffolk University, Boston, MA.
Naina Subberwal Batra
Naina Subberwal Batra is the CEO of AVPN, a regional social investment network that aims to increase the flow of financial, human and intellectual capital for impact.
Naina’s leadership since 2013 has nurtured the AVPN community, growing the membership base by more than four times and elevating the organisation into a truly regional force for good. Under her direction, AVPN has grown from focusing only on venture philanthropy to supporting the entire ecosystem of social investors, from catalytic philanthropists to impact investors and corporate CSR professionals.
Naina is Board Member of the Global Resilient Cities Network, Chair at the International Venture Philanthropy Center (IVPC) and Trustee at Bridge Institute.
In 2021, Naina was featured on the list of Asia's Most Influential by Tatler Asia and in 2019, she was awarded one of Asia's Top Sustainability Superwomen by CSRWorks.
Douglas Beal
Doug is the global head of BCG's Social Impact and Just Transition for Financial Institutions practice area, and work with our firm's largest banking, asset management, private equity and insurance clients to improve their societal impact by leveraging their core business capabilities. Doug ensures that positive social and environmental impact results in better financial outcomes and credit from the capital markets. Doug works with corporate and investment banks to build and grow sustainable finance across multiple product areas and sectors, including social finance and climate transition finance, and with investors and wealth managers on social and sustainable investing. Doug also focuses on the convergence of societal and climate issues and also thus lead BCG's work on Just Transition for Financial Institutions. I spend a significant portion of my time on ecosystem solutions, pulling together the private, public, and civil society sectors - including work with DFI's at the center of this.
For 4 years prior Doug was the global leader of BCG's Economic Development Topic Area and the creator of BCG's "Sustainable Economic Development Assessment" (SEDA), which has been used by many national government leaders to improve economic and socio-economic conditions. Doug has more than 24 years experience in advising the private sector, governments, and international development organizations in the United States, Asia, Eastern Europe, the Middle East and Africa on strategy, organization and operations. He’s worked with many governments on their national and regional development strategies.
Mike Belinsky
Mike Belinsky is a Director at Schmidt Futures, where he helps develop the Talent Ventures portfolio, supports current programs on strategy and execution, and helps design and launch new programs.
Prior to Schmidt Futures, Mike was a principal at The Bridgespan Group, where he led teams that addressed complex strategy and execution challenges for foundations, impact investors, and nonprofits. At Bridgespan, Mike also helped build the impact investing practice.
Mike also co-founded Instiglio, a social enterprise that develops impact bonds and results-based financing programs in low- and middle-income countries. At Instiglio, Mike led the team that designed the first impact bond in India — the Educate Girls Development Impact Bond — which improved primary education outcomes and served as a model for impact bonds in India and beyond. For this work, Mike received the Echoing Green fellowship and the Forbes 30 Under 30 Social Entrepreneurship award.
Mike holds a BA in economics and government from Dartmouth College and an MPP from Harvard Kennedy School, where he was managing editor of the Harvard Kennedy Review. He was born in St. Petersburg, Russia, and lives with his wife and two children in New York City.
John Fairhurst
At the Global Fund John leads work to engage the private sector in supporting the Global Funds mission to eliminate HIV, Malaria and TB. This means driving catalytic impact initiatives, including community health workers, digital health, climate and health and behaviour change, through engaging private sector resources, philanthropy and innovative finance.
Prior to this John was a Director at UBS Optimus where he was leading the team developing new products and innovative financing instruments, and he was the COO at the Global Alliance for Improved Nutrition (GAIN), a Geneva based organization that focusses on improving nutrition in developing countries primarily through public private partnerships and increasing the positive impact of markets for the poor.
John has worked in both the private and not-for-profit sectors. He worked in the finance and pharmaceuticals sectors supporting mergers, acquisitions and public listings. He helped establish and manage the portfolio of one of the largest private foundations, the Children's Investment Fund (CIFF). He was also a Regional Manager for Oxfam in East and Central Africa, Country Director in Afghanistan and worked in Northern Sri Lanka. He was also a board member of the Mines Advisory Group (MAG), a major mines clearance organization and Nobel Prize co-laureate.
Stephen Huddart
Stephen is an adjunct professor at the University of Victoria Gustavson School of Business. He serves on the advisory boards of the International WELL Building Institute; Observer Media Group; Regenerative Capital Group; and the Centre for Social and Sustainable Innovation.
In 2003 he joined the McConnell Foundation, serving as CEO from 2011 to 2020. Under his leadership the foundation integrated its granting and investment portfolios in partnerships with Indigenous organizations, governments, financial and academic institutions, and civil society. He was involved in creating Canada's $755 million Social Finance Fund and co-founded the Transition Accelerator.
Today, Stephen is actively involved in systems innovation finance. He chairs an advisory board for the YMCAs of Quebec Alternative Suspension SIB; advises the University of Toronto's Child Development Institute outcomes finance initiative; and is a steward of Financing Ecosystems for Systemic Transformation (FEST). He writes about social transformation in the National Observer and is the Director of the Regenerative Economy program for the 2024 Victoria Forum.
In recognition of his innovative work in philanthropy and systems change, McGill University awarded him an honorary Doctor of Laws degree in 2022.
Owain Johnson
Owain Johnson is the Global Head of Research and Product Development at the CME Group.
The research and product development team develops new risk management products as well as ensuring the continued relevance of CME Group’s current suite of key benchmarks. The team also produces original research into financial and commodity derivatives and their underlying markets around the world.
Johnson previously served as CME Group’s Managing Director of Energy Research and Product Development. Before that, Johnson was previously the Managing Director of the Dubai Mercantile Exchange as well as Executive Director of CME Group Singapore. Before joining CME Group in 2010, Johnson served as Asia Business Development Manager for Argus Media.
Johnson is the author of “The Price Reporters: A Guide to PRAs and Commodity Benchmarks” and “40 Classic Crude Oil Trades: Real-Life Examples of Innovative Trading”. Johnson is a member of the International Association for Energy Economics and earned his master’s degree from Cambridge University.
Vikas Pota
Vikas Pota is the Founder and CEO of T4 Education, a digital media platform he established as a response to the challenges posed by the pandemic to education globally. T4 is building the world’s largest community of teachers and schools and is providing opportunities for educators to network, collaborate, share best practices, and support each other’s efforts to improve learning. T4 works to amplify teachers’ voices because the world in which every child receives a good education will only be built by listening to those at the heart of education.
Vikas was previously CEO of a philanthropic foundation, has been recognised as a Young Global Leader by the World Economic Forum and as one of London’s 1,000 most influential persons. Vikas was recently named European regional honouree for the 2022 YPO Global Impact Award.
Cameron Prell
Cameron has been a climate lawyer and business advisor for more than 20 years, with specialized expertise in designing environmental commodity markets and standards. He got his start helping governments design the first carbon finance structures in 2000, and has helped industries develop the policies, standards and infrastructure that underpin carbon markets around the world.
For the past few years, he was head of legal and policy for Xpansiv, the largest marketplace for voluntary carbon credits, and has focused on helping build the digital asset networks needed to scale data-driven investments in impact. Cameron regularly speaks on intangible commodity market design and policy, has been the national chair of the American Bar Association’s Energy and Environmental Markets Committee, and has been an adjunct professor at Columbia and Georgetown.
Maina Sahi
Maina Sahi is a trusted advisor to boards, CEOs and other C-suite leaders in high-impact organisations, pivotal in shaping the future of the world.
With over two decades consulting with global organisations, foundations, investors and governments, in over 40+ countries across multiple impact sectors, Maina brings her diverse breadth of experience to the leadership and strategic needs of her clients. Through her career, she has leveraged the platforms of Spencer Stuart, CDC Group (now called British International Investment), BCG, Parthenon and Egon Zehnder, to deliver outsized and sustainable impact to clients across education, healthcare, agriculture, climate, social justice, human rights and crisis management. In her roles within Consulting and Executive Search firms, she played a pivotal role in embedding social impact, global development, public sector and non-profit practices within these organisations, pushing against the boundaries of their business models. As a purpose-driven problem solver and strategic advisor, she has always focused on solving for gaps in impact ecosystems, leaderships, diversity and equity.
Maina has an MBA from the University of Chicago Booth School of Business, where she remains a board member on the school’s UK alumni club. She is an angel investor in WisdomCircle & KleverKid and is an Advisory Council member at OutcomesX.
Tricia San Cristobal
Tricia San Cristobal is the Chief Product Officer for T-REX, bringing more than 20 years of experience across global financial and information technology services to her role. Building her career driving long-term business growth through digital transformation and innovation, she combines deep leadership skills with expertise in all aspects of the product lifecycle and go-to-market strategy. Before T-REX Tricia was Global Head of Elektron as a Service and Enterprise Platform Proposition Management at Thomson Reuters (TR). She has held various global leadership positions at both TR and Bloomberg where she was responsible for all aspects of commercial and business management. Tricia was responsible for launching Bloomberg’s real-time feeds products that formed the basis of Bloomberg’s Enterprise Products and Solutions Division.
Tricia is a highly respected advisor, working closely with companies leveraging her broad industry knowledge to drive business growth, shape strategy, improve performance, and maximize value. She is currently an Advisory Board member at Backpack, a data & marketplace platform for the Built industry, and Fiùtur, a trusted infrastructure business for the transition economy. She is also a Board member at HealthRight International.
Dr Chih Hoong Sin
Dr Chih Hoong Sin is an internationally-recognized expert in outcomes-based contracting (OBC) and impact investment. As of 2023, he has been involved directly in one-fifth of the world’s Social Impact Bonds (SIBs).
Chih Hoong is currently supporting all ‘live’ Outcomes Funds in the UK including the £16million Commissioning Better Outcomes Fund, the £70million Life Chances Fund, and the £14million Refugees Transitions Outcomes Fund.
He is also providing expert advice to a number of governments, including the Japanese government and the UAE, and he helped design the first SIB in Abu Dhabi (the Atmah SIB), which was also the first SIB in the Gulf region, and contributed towards the Emirate’s social development strategy and implementation.
Chih Hoong has also been asked by the Governments and stakeholders of Hong Kong, Poland, Singapore, and Chile to provide specific advisory support on OBC/SIB development and implementation and he is working with UNESCO, UNICEF, and the Latin American Development Bank to build outcomes-based funding structures.
Advisory Council
Enith Williams
Enith is a senior business and financial services professional with significant American and international experience working with governments, corporates, and non-profits. As a trained financial services professional, she has executed or been part of complex project development and financing teams that has designed out of the box financial solutions that has attracted financing from institutional investors. She was a former Merrill Lynch International Banker who worked out of the World Financial Headquarters where she was part of cross functional teams that won mandates for large global infrastructure projects.
She has lived in Jamaica since 2010 and was part of the enterprise team that developed and executed an innovative PPP project with the University of the West Indies to design, build and operate a $ 10 Billion dollars 1,500 room purpose-built student housing on the campus of the University. She has also consulted with the US$4 Billion dollar, Petro Caribe Development Fund and Sagicor Investments, the largest financial services company in Jamaica.
She is passionate about community and human capital development and has worked for more than 30 years on numerous community engagement projects in the USA and in Jamaica. In 2016, she conceptualized and launched the Downtown Kingston Music Theatre, as a social intervention for children who live and attend school in downtown Kingston. She has served on the Board of Directors of numerous public and private sector boards, including publicly listed companies. She was a past director of Barita Investments Limited, which was sold in one of the most expensive transactions ever executed in Jamaica in 2018. She was also a member of the board of the Export-Import Bank of Jamaica, and of 138 Student Living Jamaica Ltd. She is the current Chair of the Finance and Administration Committee of the Board of the United Way of Jamaica and a member of the Board of Kingston Creative whose mission is to establish Kingston as a globally recognized creative city.
Zubaida Bai
Zubaida Bai is President and CEO of Grameen Foundation, headquartered in Washington, DC. Bai is a social entrepreneur and women's health advocate with more than 18 years in the social impact space. She is the founder of ayzh, a social enterprise that designs vital healthcare products to improve the health and happiness of women and girls across their reproductive lives. Prior to joining Grameen Foundation, she was the managing director of social ventures at CARE International.
Bai has been recognized as a Young Global Leader by the World Economic Forum, a Maternal Health Champion by Ashoka, a TED Fellow/ Speaker, and named United Nations SDG 3 Pioneer by the United Nations Global Compact (UNGC). She is a Visiting Social Innovator with Harvard University’s Social Innovation Change Initiative (SICI) and a member of the Governing Body at SEMA (Shaping Equitable Market Access) for Reproductive Health.
She holds a master’s degree in Mechanical Engineering and an MBA from Colorado State University. She was also conferred with an Honorary Doctor of Humane Letters degree by Claremont Graduate University in 2018 for her ability to work at the intersection of various sectors seamlessly, and to energetically bring her unique insights and fresh perspective to the table.
Andrea Phillips
Andi Phillips is a Co-Founder and Managing Partner at Maycomb Capital, a pioneering impact investing platform. At Maycomb Capital, Ms. Phillips leads the Community Outcomes Fund, one of the firm’s two flagship funds and the largest outcomes financing fund in the United States. The Community Outcomes Fund invests in next-generation public private partnerships that scale high-quality human service programs for low-income communities. Ms. Phillips also develops and leads Custom Strategies at Maycomb that enable investors to deploy flexible, mission-aligned capital aimed at addressing specific social issues, target populations, and/or geographies.
Ms. Phillips is a recognized leader in the field of impact investing, with over 30 years of experience leading, designing and implementing large scale, public private partnerships that leverage private investment to address pressing social challenges. She has deep expertise in deploying flexible, mission-aligned debt that supports projects and enterprises that drive better access to economic opportunity for individuals and families experiencing poverty. Prior to Maycomb, she was Head of the Goldman Sachs’s Social Impact Fund, where she led the first outcomes-based financing transactions in the U.S. market.
Previously, Ms. Phillips was president of Seedco Financial, a Community Development Financing Institution. Ms. Phillips holds a BA from Tufts University and an MPP from the Harvard Kennedy School of Government. She lives in Brooklyn, NY with her husband and three sons.
Ranajoy Basu
Ranajoy Basu Heads McDermott, Will & Emery’s impact finance practice having extensive experience in debt capital markets and impact finance transactions. Ranajoy is recognised as one of the world’s leading lawyers in cross-border climate change and impact finance structures, including social and development impact bonds, renewable energy and “green” structured finance transactions as well as being a legal expert in adaptive and sustainable finance. He advised on the very first impact bond and has since, advised on some of the most innovative financial inclusion structures around the world targeting both environmental and social sustainability.
Ranajoy’s key clients include supranationals, multilateral development banks, NGOs, not-for profit entities, impact funds, industry bodies, regional authorities, banks and corporates on structuring social impact finance solutions. He is a regular speaker on climate change, social sustainability, and innovative finance.
Brad Bender
Brad Bender, a seasoned technology leader with over 25 years of experience in global product and general management, founded A-Z Consulting to provide guidance and investment to startups and businesses across the tech, media & entertainment, and services sectors. As an Advisory Council member at OutcomesX, an Independent Board Member for Entravision (NYSE: EVC), and Treasurer and Board Member at the Classical Theatre of Harlem (cthnyc.org), he brings strategic guidance to organizations supporting diverse and underserved communities.
Previously, as Vice President of Product Management at Google, Brad led the global strategy, design, and management of Google’s News and Search Ecosystem efforts, utilizing AI/ML powered products to serve billions of users worldwide. Earlier in his career at Google, Brad led the development of the Display and Video advertising business, founding the Google Display Network and transforming it into a multi-billion-dollar enterprise. He also held various leadership roles at DoubleClick, culminating in his position as Vice President of Product Management, responsible for the optimization suite of products used by many leading publishers, agencies, and marketers globally. Brad is a graduate of Cornell University, and lives in Palo Alto, CA, with his wife and twin children.
Megan Megale
Megan is a seasoned professional who brings tremendous value to brands seeking high level growth and strategic partnerships opportunities. She hails from twelve years of entrepreneurship as the Managing Partner of Megale Public Relations, a firm that represented storied brands like The New York Yankees, Morgan Stanley, Bernstein Alliance, Ferrari, Amazon, The New York City Ballet and healthcare companies. Megan is intuitively insightful at the influence of storytelling, branding and social media and masterfully integrates those assets into every opportunity she seeks.
Earlier experience resides in Biotech and Johnson and Johnson where she worked in the operating room in sales.
