First impact investing fund in Italy, founded in 2006
Turned social projects into solid and scalable business models
Selected high-impact sectors, choosing the best entrepreurial projects.
Opened up market trends as Social Housing or accessible healthcare
Our Impact Goals
Our approach to Impact
We invest in meaningful business models, addressing real social or environmental challenges of our society
We invest in companies with an integrated model, in which impact is pursued at the very center of the business activities and not as a lateral feat
Our Impact Framework
Impact measurement methodology
An important premise:
As from the Theory of Change, we want to measure outcomes, focusing on a measurement that is oriented to track the change occurred, instead of the the result only.
Outputs are those operative results obtained by the activities of the company, often not capable to capture whether the company is creating impact.
Our objective is to measure Outcomes and our effort is fully committed to trace the change that our investees are capable to generate towards their beneficiaries (either people or planet).
We firmly think that measuring outcomes must include stakeholders’ point of view:
Outcomes cannot be measured properly without considering if the change has actually been experienced by beneficiaries. Including their point of view is the key aspect to assess whether the company is actually providing the intended positive change.
Our impact measurement process
What is the problem solved?
Is there alignment with one of our impact goals?
Who are the beneficiaries of the impact?
Which changes are being generated on the beneficiaries towards?
We find a proxy capable to estimate the level of outcome reached
Our Carry Model
The 70% of the carried interest is tied to the achievement of the impact KPIs.
If impact KPIs are not achieved at a fund level, the 30% of the 20% carried interest is not given to the management team.
Browse our Impact Report
Impact report 2022