Response to “When Can Impact Investing Create Real Impact?”

Stanford Social Innovation Review

By Nancy E. Pfund
August 15, 2013

Lately, it seems, just about every­body is becom­ing an impact investor. “All good,” one might say, for who wouldn’t want to rally behind those who strive to make a dif­fer­ence in the world while imple­ment­ing a com­pelling invest­ment strat­egy? The tricky part, as Paul Brest and Kelly Born argue in their thought­ful arti­cle, is deter­min­ing what exactly that impact looks like and whether its exis­tence bears any con­nec­tion to the invest­ment process attached to it.

After almost 10 years of build­ing our prac­tice of double-​​bottomline ven­ture cap­i­tal at DBL Part­ners, we find many aspects of the authors’ con­cep­tual frame­work res­o­nant, includ­ing the notion of per­spi­cac­ity, the pres­ence or absence of addi­tion­al­ity, and the impor­tance of met­rics and non­mon­e­tary benefits.

Read the full arti­cle at the Stan­ford Social Inno­va­tion Review.