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.
Impact investing is a huge topic at present and the questions [the book] is asking are highly relevant. It will stand as a definitive contribution to this literature.
Preface Doug Miller
Part 1: Impact investing: what, who, how
1. 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 School
3. Early attempts at benchmarking impact investments Alessandro Lanteri, Hult International Business School
Part 2: Perspectives on impact investing
4. Impact investing as a societal refocus of venture capital: the perspective of mature economies. Veronica Vecchi, Francesca Casalini, Stefano Caselli, SDA Bocconi School of Management
5. Measuring impact: a debate about the concepts of profit and value Uli Grabenwarter, European Investment Fund
6. The future of impact investing Luciano Balbo, Oltre Venture
Part 3: Before and beyond impact investing
7. Social enterprises Federica Bandini, University of Bologna
8. From philanthropy to venture philanthropy Lisa Hehenberger, ESADE Business School and European Venture Philanthropy Association, Priscilla Boiardi and Alessia Gianoncelli, European Venture Philanthropy Association
9. Public-private collaborations for social impact creation Niccolò Cusumano, Veronica Vecchi and Manuela Brusconi, SDA Bocconi School of Management
10. The science of shared value: integrating business and social analytics Paul MacMillan and Alison Sproat, Deloitte
11. Innovating for impact investing: financial institutions and beyond Helen Toxopeus, Karen Maas and Kellie Liket, Rotterdam University
Part 4: Impact investing in practice: experiences from the point of view of the operators
12. The development of an impact-driven portfolio Emilie Goodall, Bridges Ventures
13. Social impact from giving to investing UBS team
14. Creating the ecosystem for impact investing Aditi Shrivastava and Usha Ganesh, Intellecap
15. Leveraging the ecosystem for growth: case studies from India Aditi Shrivastava, Intellecap
16. Pioneer to mainstream: lessons from the Indian impact investing ecosystem Usha Ganesh, Intellecap
17. 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 Investments
18. Impact investing in Africa Emanuele Santi and Laura Sennett, African Development Bank
About the contributors
VERONICA VECCHI and MANUELA BRUSONI are Professors of Public Management and Policy at Bocconi University; where STEFANO CASELLI is Full Professor of Banking and Finance. LUCIANO BALBO is Founder and Chairman of Oltre Venture.
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