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Impact & Sustainablity

Our belief

As a team, we are convinced of the essential role that the private sector, and particularly private businesses, can play in creating a more inclusive and sustainable society. 

Our mission

To help create a society that is more inclusive and sustainable, by enabling transformational businesses to tackle systemic problems.

Our approach

The Fund targets and invests in impactful companies where impact is an integral part of their business model and therefore aligned with the company’s financial performance. The targeted companies offer solutions to the three areas of needs identified in our Theory of Change:

  1. Structural unemployment

  2. Bad health and

  3. Climate crisis and environmental degradation.

Best-in-class impact management practices

We follow best-in-class practices of Impact Investing, including the definition of our intentionality, objectives, impact measurement and management and transparent reporting to key stakeholders.

  • We invest in businesses that provide best-in-class solutions to the identified areas of needs analysed in our Theory of Change

  • The Fund targets 6 of the 17 SDGs (# 3, 4, 7, 8, 10 and 13)

  • Organic growth and build-ups to reach leadership positions and to scale the impact

  • Impact managed and measured throughout the investment process, using the Impact Management Project framework

  • Definition and tracking of 3 to 5 impact KPIs per portfolio company during the holding period impacting management remuneration

  • Independent Impact Committee which validates the defined impact KPIs and the impact performance when portfolio companies are exited

  • 50% of Impact Expansion's team carried interest linked to the achievement of the Fund's impact targets

  • Transparent and integrated reporting to investors

SDG 10
SDG 13
SDG 10
SDG 13

Pre-screening & due diligence

  • Assessment of the target’s achieved and potential impact using the COMPASS/ Impact Management Project’s framework complemented by the GIIN’s IRIS+ system.

  • Team’s pragmatic evaluation

  • Impact Committee provides feedback on the “draft” impact KPIs and objectives.

  • Impact Experts are called on on a case-by-case basis


  • Prior the investment, validation of the Impact KPIs and objectives to be achieved over the life of the investment by the Impact Committee, independent entity from the GP

  • Definition and binding  of the impact KPIs objectives in the Investment Agreement

In portfolio

  • Rigorous monitoring of impact KPIs throughout the investment’s lifetime, with quarterly impact reporting

  • Monitoring of the business’ management, and its alignment with its mission statement to avoid the risk of mission drift

  • Guidance from the Impact Committee / Impact Expert Pool on specific issues that may arise


  • Final KPIs measurement to determine impact achievements

  • Impact actually reached defines carried interest calculations (Impact Portfolio Ratio formula)

  • Verification of measured KPIs by the Impact Committee

  • External audit to validate the impact performance achieved during the holding period

Impact management

The impact assessment, measurement and management process is organised throughout the investment process, from sourcing to exit. In parallel, we also integrate a sustainability risk assessment (as described above) that is considered in the investment decision process and that we aim to monitor during the holding period until the exit.

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Certified Article 9 Fund

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Our mission consists in combining the vision of impact investing with the financial rigour and business-building capability of private equity to generate superior returns while delivering meaningful social and environmental impact, carefully targeted at major areas of needs in Western Europe.

For further information on our Impact and Sustainability approach, and Impact Expansion's alignement with Article 9 of the EU Sustainable Financial Disclosure Regulation (SFDR), please click on the below link:

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