By investors, for investors.
The Impact Frontiers Mission
Our mission is to catalyze and accelerate investors’ integration of impact alongside financial risk and return into their investment practices.
The urgency of the social and environmental challenges we face makes it imperative that investors allocate capital to impact accurately and efficiently.
To this end, our strategy of growth through partnerships with industry associations and open-source content is designed to support the greatest possible number of investors to integrate impact into their decision-making as quickly as possible.
Our focus is on usefulness and practicality for investment decision-making. To achieve this, we lead with questions, and facilitate interactions that help investors come up with their own answers, based on their strategy, context and data. Our belief is that collaboration unlocks learning and innovation in addressing the challenges we face.
Our five-year goal is for investors across all major geographies and asset classes to be able to integrate impact into their investing.
Impact Frontiers is a learning and innovation collaboration developed with and for asset managers, asset owners and industry associations.
We originated from Root Capital’s efforts to integrate a third dimension of impact into the two-dimensional ‘efficient frontier’ of financial risk and return. To see if others could do the same, twelve investors joined in the first Impact Frontiers Collaboration, where they translated and implemented the integrated approach across a diverse set of portfolios totalling $15 billion. From these funds’ experience, Impact Frontiers synthesized a set of generalizable steps relevant to a wide range of investors in this article and handbook.
As it grew, the initiative migrated from Root Capital to the Impact Management Project, a non-profit forum for building global consensus on how to measure, manage and report impacts on sustainability – thus serving as a natural platform for industry-wide collaboration.
In the next phase of growth, Impact Frontiers seeks to build a scalable and replicable model to reach investors in new regions and asset classes.
Mike is Founder and Executive Director of Impact Frontiers, a learning and innovation forum supporting investors in pioneering new ways to quantitatively and holistically integrate impact alongside financial risk and return in investment practices. In 2020, he led the investors participating in the first Impact Frontiers cohort to co-author the article “How Investors Can Integrate Social Impact With Financial Performance to Improve Both” in the Stanford Social Innovation Review, as well as an accompanying Investor Handbook.
Mike also serves as Head of Investor Collaboration at the Impact Management Project. Mike was previously Head of Impact at Root Capital, where his article “Toward the Efficient Impact Frontier” was featured in the Winter 2017 issue of SSIR. Prior to that, he consulted for Monitor Company and conducted research for Harvard Business School professor Michael Porter. Mike holds an MBA and an MPA in International Development from Harvard University, as well as a BA from Yale University.
Isabella works at the Impact Management Project with Members of the IMP Structured Network on their collaborative work plan aimed at helping enterprises and investors navigate their respective standards and guidance. She also supports the work of Impact Frontier.
Prior to the IMP, Isabella was involved in research, analysis and strategy work at 17Africa, an impact investing initiative, designing an innovative approach to building investment portfolios specifically focused on the United Nations Sustainable Development Goals (SDGs) in Africa.
Isabella also concentrated on SDG and impact investing research throughout her Master of Development Practice (MDP) at the University of California, Berkeley. Whilst at Berkeley, she worked for the Haas Center for Responsible Business. There, Isabella collaborated with the Executive Director on the Nordic Sustainability Initiative, with the purpose of comparing best practices between US and Nordic approaches to sustainable and socially responsible business.
Isabella is currently based in London but is originally from Sydney, Australia. She completed a Bachelor of Business and Arts in Melbourne and has also enjoyed stints working and studying in Canada, Denmark, The Netherlands and California.
Emily Moini supports Impact Frontiers as a Social Innovation Fellow of the Swearer Center for Public Service at Brown University, where she is currently a junior studying Philosophy, Politics, and Economics (PPE). At Brown, she also serves as Consulting Director for the student organization 180 Degrees Consulting, and a member of the Women’s Cross Country team.
In the past, Emily worked at the Ittleson Foundation, where she designed and executed a project to explore emerging best practices in grant evaluation within philanthropic foundations. Emily is fascinated by the potential for organizations and firms to maximize their social impact through sustainable investment practices, and is excited to contribute to this important ambition as a member of the Impact Frontiers team.
Erika Seth Davies
Erika is the Founder of The Racial Equity Asset Lab, a Fellow, Equitable Access to Capital Markets in the Fair Finance portfolio with the Beeck Center for Social Impact + Innovation at Georgetown University, and a Social Entrepreneur in Residence at Common Future.
Erika Seth Davies is a leader in impact investing, nonprofit and philanthropic with extensive experience in development and fundraising, program design, collaboration and partnership management, and racial equity advocacy. She has worked in nonprofits and the field of philanthropy for 20+ years including positions as Associate Director of Philanthropy at McDonogh School, the Chief of Staff of the Baltimore Community Foundation and Vice President of External Affairs at ABFE: A Philanthropic Partnership for Black Communities.
Erika has engaged in extensive efforts to advance the field on issues of diversity, equity, and inclusion. She designed the SMART Investing initiative, the first philanthropic effort to incorporate a racial equity lens in foundation endowment practice through increased access for minority- and women-owned investment management firms.
Erika speaks frequently and facilitates conversations about diversity, equity and inclusion through a race lens and has presented during conferences and convenings for Mission Investors Exchange, the Council on Foundations, the National Association of Securities Professionals, and Confluence Philanthropy among many others.
Akira is a multi-cultural immigrant and entrepreneurial creative who has dedicated his career to storytelling strategy for social change and cultural impact.
He is a founding partner and former Head of Creative at A/B, a NYC-based, POC-led storytelling studio creating new narratives about people, power, and social change to transform our politics and the economy. At A/B, Akira built an organization dedicated to creating powerful, data-driven, inclusive campaigns and brands that propelled social justice movements, individuals and ideas forward.
Akira has consulted for some of the most impactful organizations in the world that have shaped our beliefs and actions around human rights, immigration, housing, healthcare, education, racism, inclusive economies, voting, and socially conscious business. Past partners and projects have included Human Rights Watch, Doctors of the World, Southern Poverty Law Center, Common Future, B Lab, Win Black, Million Voters Project, Mozilla, Amnesty International, Ultraviolet.
As a writer and as a musician, he has has led efforts to connect fellow artists in North America by creating more inclusive and supportive creative communities. Akira works closely with cultural institutions, brands and non-profit organizations to challenge existing divides and build richer opportunities for artists in all spaces.
Akira has an Honors B.A. in History and English from the University of Toronto and is currently based in New York City.
Catherine Dun Rappaport
Catherine Dun Rappaport oversees efforts to understand and increase BlueHub Capital’s impact. She leads BlueHub’s performance measurement and management projects, and she oversees evaluations of BlueHub lending and initiatives. Catherine collaborates with leaders across the organization to share related insights and to develop strategies for applying lessons learned.
Catherine is BlueHub’s in-house expert in practical and applied research. She has a 20-year track record conducting action-oriented evaluations, helping funders and practitioners apply findings to enhance performance, and assuming leadership roles at mission-driven organizations. Her work has been published in professional journals and on government websites. She also is a frequent presenter at national conferences on evaluation, philanthropy, and innovation in impact measurement.
Catherine has spent her career catalyzing and supporting positive social change. Prior to BlueHub, Catherine served as the Vice President of Learning and Analytics at the United Way of Mass Bay and as a senior research consultant at Abt Associates. Catherine overhauled United Way’s systems for determining how to allocate over $45MM of funding to nonprofit organizations in a way that simplified the process, rewarded performance and increased transparency and equity. She was asked to serve as a senior strategic advisor to senior organizational leadership in recognition of this work. At Abt, Catherine led evaluation and technical assistance projects focused on economically disadvantaged children and families and on supporting the low-wage workforce. She helped clients utilize findings to enhance organizational performance and to improve client outcomes. Catherine also has five years of direct experience working in community-based organizations that support low-income children and parents. As a young professional, she founded and ran a local chapter of Read to a Child.
Catherine graduated with honors from Amherst College and received a Master’s in Public Policy from Harvard Kennedy School.
CEO and Founder, Impacto Consulting
Belissa is the CEO and founder of Impacto Consulting. She is currently working with the UN SDG Impact team to advance the adoption of universally agreed upon standards for SDG-enabling investments and enterprises. She is also leading an initiative with On Think Tanks (OTT) and International Development Research Centre (IDRC) to bring cross-sector knowledge, policy, and economic expertise from local think tanks to the impact investing industry in Latin America and Africa.
Previously, Belissa was Strategy & Monitoring Senior Specialist at IDB Invest, where she led the design and implementation of IDB Invest’s Impact Management Framework post due diligence and was responsible for the impact oversight of its investments and loans. While at IDB Invest, she also led the design and launch of the Impact Lessons Learned site, which included an evaluation of IDB Invest’s entire portfolio, independent verification of all final evaluations, and identification of best practices. Prior to this work, Belissa was the Counselor for Peru and Chile at the Board of Executive Directors of the IDB Group. As a former consultant for Emerging Markets Group (formerly Deloitte Emerging Markets) and the World Bank, Belissa also acquired extensive experience in evaluating public sector operations and corporate projects. Belissa started her career working in the Ministry of Finance of Peru and the Peruvian Regulatory Agency for Banks, Insurance and Pensions.
Belissa holds an MSc in Development Management from the London School of Economics, an MSc in Finance, and a BA in Economics, both from Universidad del Pacifico. She is fluent in English, Spanish, and French.
Jeremy Nicholls founded the SROI Network in 2007 with the mission to change the way the world accounts for value. As Chief Executive he was instrumental in developing the network across the globe as well as developing numerous innovative training and assurance and accreditation services. In 2015 when the SROI Network joined with the Social Impact Analysts Association to form Social Value International and Social Value UK, Jeremy became Chief Executive of both organisations. Jeremy stepped down as Chief Executive in June 2018 but remains a committed member of the network.
He is also a director of the FRC Group (a social business based in Liverpool), a non-executive director of Social Investment Business and a Fellow of Practice of the Government Outcomes Lab at the Blavatnik School of Government. Jeremy also chairs the British Standards Institute’s social value subcommittee and is a member of the IRIS advisory committee, the Social Value Taskforce and the Social Stock Exchange admissions panel. He has lectured at several Universities including the Said Business School at Oxford University, Hult International Business School and the University of Western Australia.
He originally qualified as a chartered accountant, including time as the Finance Director for Tanzania Railways. In 2004 he set up Urban Strategy associates, an economic development consultancy followed by the BETA Model, an online database of trends in UK business stock and then, with FRC, the Cat’s Pyjamas which ran events to promote the value of social enterprise.
He has written’ There is no business like Social Business’ with Liam Black, and worked with others to write a number of SROI guides including, the ‘Guide to SROI’ and regularly blogs on social value.
A co-founder of the IMP, Olivia has worked since the project’s inception to facilitate market consensus on sustainability and impact measurement, management and reporting. She focused on leading the development of best practices for investors, such as defining approaches for integrating impact considerations into traditional portfolio construction norms. Now, Olivia oversees the work of the IMP Structured Network of standard-setting organisations; providing technical support to all Members in their efforts to coordinate and co-create content. Olivia also manages the IMP’s internal operations.
Olivia is on secondment from Bridges Fund Management, where she was previously Director of the firm’s impact strategy throughout the investment cycle and across all fund types. Prior to this, Olivia worked in emerging market impact investing at the UK’s Development Finance Institution, CDC, and with the DFID Impact Fund.
Olivia has experience advising both investors and corporates on designing sustainability impact measurement and management approaches across diverse geographies and asset classes. She has authored several publications on this topic, and regularly delivers training for global academic institutions and industry membership networks.
Olivia has an MA in International Relations from King’s College London, and a BA (Hons) in History from Durham University. She has lived and worked in New York and Tanzania, and is currently based in London.
President, Bridges Impact Foundation
President, Bridges Impact Foundation
Brian is a Partner at Bridges in the U.S. Sustainable Growth Fund, a director of the Bridges Impact Foundation in the U.S., and leader of Bridges’ impact advisory activities.
Brian has nearly 20 years of impact investing experience, having written the business plan for Acumen in 2000 and served until 2012 as the Chief Investment Officer, where he oversaw $55m of investments into companies that were delivering health, water, energy, and agriculture services to economic base of the pyramid in South Asia and Sub-Saharan Africa. As CIO, he was a member of Acumen’s management team and helped build out the network of country operations that worked closely with the entrepreneurs. Brian was also a co-founding board member of the Aspen Network of Development Entrepreneurs (ANDE) and was one of the principal architects of impact management software tool, Pulse, and the Impact Reporting and Investment Standards (IRIS). Prior to Acumen Fund, Brian worked as a health care consultant at McKinsey & Company, was a lead environmental staff person at the Corporation for National Service, and has been involved in starting and advising a range of non-profit and for-profit start-ups.
Brian has an undergraduate degree from Harvard University, an MBA from Stanford’s Graduate School of Business, and an MA in City & Regional Planning from the University of California at Berkeley. He also teaches social entrepreneurship to at Harvard Business School. Brian was the first impact investor to go through the Kauffman Fellows Program of the Center for Venture Education, and is a Henry Crown Fellow of the Aspen Institute
Chief Executive, Impact Management Project
Chief Executive, Impact Management Project
Clara is the Chief Executive of the Impact Management Project (IMP). Clara oversees the strategic direction of the IMP and leads its technical facilitation across a broad range of collaborating organisations.
Clara is on secondment from her role as a Partner at Bridges Fund Management, where she previously led the firm’s sustainable and impact strategies across all fund types. Clara also led the firm’s research and development efforts to promote the growth of the wider sustainable and impact investment sector.
Prior to Bridges Fund Management, Clara focused her career on investing in sustainable businesses – most recently on the management team of a healthcare chain in India, an Acumen portfolio company. Clara previously worked for Acumen’s Capital Markets team where she played a lead role in designing an innovative investment vehicle and later co-led the Acumen renewable energy portfolio. Clara grew up between the Bahamas, France and the UK. She has since lived and worked in Bogota, New York, Mumbai, Paris, Yangon and London.
Clara holds a BA (Hons) in Greats from Oxford University and an MBA from INSEAD.