Impact investing is gaining global attention from society, governments and businesses. Increasingly, it is seen as a new paradigm to deal with the economic crisis and curtailed public budgets, an answer to the diversified needs of society. It now ranks high on the policy agenda of governments and international organizations, and private investors are searching for new investment opportunities to channel the liquidity available.
This book is the first to look at impact investing as a "refocus" of venture capital to sustain the development of societal impact enterprises. Principles and Practice of Impact Investing collects chapters from international experts on the subject, discussing the foundations of the movement, analysing leading international cases and debating future trends in the field. It also includes interviews with some of the most influential stakeholders of impact investing across the world.
The book is an inspirational and practical guide for actors and stakeholders to enable better understanding of impact investing. Taking an international perspective, the chapters primarily deal with mature economies, setting it apart from the existing literature focused on emerging countries. The book will be of interests to practitioners and executives, as well as researchers and MBA students.
Table of Contents
Preface Doug MillerPart 1: Impact investing: what, who, how1. Impact investments: the emergence of a new beacon in investing? Harry Hummels (GIIN &Maastricht UNI)2. The early days of impact investing: market size, investment type and returns J. Tansey, Jana Svedova and Alfonso Cuyegkeng, Sauder Business School3. Early attempts at benchmarking impact investments Alessandro Lanteri, Hult International Business SchoolPart 2: Perspectives on impact investing4. Impact investing as a societal refocus of venture capital: the perspective of mature economies. Veronica Vecchi, Francesca Casalini, Stefano Caselli, SDA Bocconi School of Management5. Measuring impact: a debate about the concepts of profit and value Uli Grabenwarter, European Investment Fund6. The future of impact investing Luciano Balbo, Oltre VenturePart 3: Before and beyond impact investing7. Social enterprises Federica Bandini, University of Bologna8. From philanthropy to venture philanthropy Lisa Hehenberger, ESADE Business School and European Venture Philanthropy Association, Priscilla Boiardi and Alessia Gianoncelli, European Venture Philanthropy Association9. Public-private collaborations for social impact creation Niccolò Cusumano, Veronica Vecchi and Manuela Brusconi, SDA Bocconi School of Management10. The science of shared value: integrating business and social analytics Paul MacMillan and Alison Sproat, Deloitte11. Innovating for impact investing: financial institutions and beyond Helen Toxopeus, Karen Maas and Kellie Liket, Rotterdam UniversityPart 4: Impact investing in practice: experiences from the point of view of the operators12. The development of an impact-driven portfolio Emilie Goodall, Bridges Ventures13. Social impact from giving to investing UBS team14. Creating the ecosystem for impact investing Aditi Shrivastava and Usha Ganesh, Intellecap15. Leveraging the ecosystem for growth: case studies from India Aditi Shrivastava, Intellecap16. Pioneer to mainstream: lessons from the Indian impact investing ecosystem Usha Ganesh, Intellecap17. Impact investing in Central America: an analysis of the growth, diversity and potential of a young investment strategy in an emerging market Alvaro Salas and William Nielsen, The Democracy Lab, Luis Castro, Mesoamerica Investments18. Impact investing in Africa Emanuele Santi and Laura Sennett, African Development BankAbout the contributors