• Case Study

Impact Investing and Venture Capital Industry: Experimental Evidence

  • Source : Stockholm School of Economics
  • January 2021
This paper presents experimental evidence on the intersection of impact investing and the venture capital industry. It examines investor behavior and decision-making in the context of sustainable finance, including the potential for “greenwashing.” The study contributes to understanding how impact considerations influence investment choices and the challenges of ensuring genuine social and environmental impact within venture capital.
  • Case Study

Best Practices in Sustainable Finance

  • Source : Standberg Consulting
  • June 2005
This foundational report provides a comprehensive overview of best practices in sustainable and socially responsible investment (SRI) and finance as of 2005. It outlines the business case for SRI, detailing various strategies such as negative/positive screening, shareholder advocacy, and community investing. The document compiles pioneering examples from global financial institutions and corporations that were early adopters of integrating environmental, social, and governance (ESG) factors into their financial decisions. It offers a guide for investors and companies seeking to align financial activities with long-term sustainability and corporate social responsibility goals.
  • Case Study

Impact Investing and Responsible Investing: What Does It Mean?

  • Source : Journal of Sustainable Finance & Investment, 3:2, 95-110,
  • January 2013
This article clarifies the distinction between impact investing and responsible investing, particularly for institutional investors. It delves into the nuances of each approach, explaining their definitions, objectives, and methodologies. The paper aims to provide a clearer understanding of how these concepts relate to and differ from one another, enabling investors to make informed decisions that align with their financial and social goals.
  • Case Study

Promoting Social Enterprise Financing

  • Source : Centre for Policy and Business Analysis, Danish Technical Institute
  • January 2016
This discussion paper explores strategies to enhance financing for social enterprises by analysing three innovative models that align public, private, and philanthropic capital. It examines the match-funding model (co-funding contributions against private investments), capital funds (pooled resources managed by intermediaries), and social impact bonds (investor repayment contingent on measurable social outcomes), assessing their effectiveness across Europe. The authors argue these blended approaches can mobilise significant capital while achieving social returns, but also highlight challenges in measurement, regulatory transparency, and intermediary capacity. They conclude by recommending policy support, stronger impact metrics, and optimized institutional frameworks to scale social finance efficiently.
  • Case Study

Impact Investing and Philanthropic Foundations: Strategies Deployed When Aligning Fiduciary Duty and Social Mission

  • Source : Journal of Sustainable Finance and Investment
  • January 2021
This article examines the strategies employed by philanthropic foundations to align their fiduciary duties with their social missions through impact investing. It explores how foundations navigate portfolio management to generate both financial returns and positive social impact. The paper provides insights into the unique challenges and approaches of foundations in integrating impact considerations into their investment decisions, highlighting successful models and best practices.
  • Case Study

Private Market Impact Investing Firms: Ownership Structure and Investment Style

  • Source : International Review of Financial Analysis
  • January 2022
This paper analyses over 8000 private market investment firms to differentiate between impact, ESG, and conventional investing. It reveals that impact investors are more frequently government-owned and tend to focus on sectors like agriculture, cleantech, and education, while avoiding “sin” industries. The study clarifies the distinctions in firm characteristics, investment preferences, and ownership structures among these ethical investment types, contributing to a better understanding of the evolving sustainable finance landscape.
  • Case Study

At the Nexus of Investment and Development: Lessons From a 60-year Experiment in Sme Impact Investing

  • Source : Practical Action Publishing
  • December 2014
This case study analyses the 60-year history of a development finance institution focused on Small and Medium Enterprise (SME) impact investing in developing countries. It examines the long-term evolution of its financing strategies, risk management approaches, and the dual pursuit of financial returns and measurable development goals. The in-depth analysis reveals crucial lessons on the effective use of blended capital, the importance of patient investment horizons, and the necessity of integrated technical assistance to foster sustainable SME ecosystems. It highlights how catalytic investment can bridge critical financing gaps.
  • Case Study

Private Equity Investors Embrace Impact Investing

  • Source : Bain and Company
  • January 2019
This report highlights the increasing adoption of impact investing by private equity (PE) investors, driven by a growing public concern for global challenges and evidence of strong correlation between ESG performance and financial returns. It differentiates between ESG-focused investors and impact investors, noting the rising demand from LPs for PE funds to consider ESG factors. The brief suggests strategies for fund managers to incorporate ESG and impact goals into their investment decisions.
  • Case Study

Assessing the Impact of Skill Impact Bond in India

  • Source : Oxford Policy Management
  • February 2022
This report evaluates India’s pioneering Skill Impact Bond, a large-scale pilot program designed to enhance skill development and employment for 50,000 young people, with a strategic focus on including women. It meticulously analyses the bond’s effectiveness in improving enrollment rates, the quality of training provided, and final job placement outcomes. The assessment underscores the critical roles of adaptive governance, robust data systems for transparent performance management, and effective coordination among diverse stakeholders like the NSDC, funders, and service providers. It offers key lessons on implementing outcomes-based financing models.
  • Case Study

Impact Investing

  • Source : Journal of Financial Economics
  • January 2021
This article examines impact investing within the context of venture capital, exploring its financial returns and unique characteristics. It analyses how impact investments differ from traditional venture capital by integrating social or environmental objectives alongside financial goals. The research provides empirical insights into the performance and structure of impact investing deals, contributing to a deeper understanding of this growing segment of the financial market.
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