Case Study

Why did IGNIA decide to become a GIIRS Pioneer Fund?

We believe that in order for a fund to call itself an impact investing fund, it must be committed to measuring its impact. In order for the industry to take off, [industry players] must come together to agree on a common standard that we will all be measured against. We believe GIIRS is the best standard in the market right now to capture social impact, to measure across portfolios and sectors, and to build a transparent and legitimate system. GIIRS puts our feet to the fire to make sure we’re delivering.

How was the rating process for your portfolio companies – tell us what about the biggest challenge and the best part of the process.

The biggest challenge was rendering information in a manner appropriate for the assessment. For example, portfolio companies had general worker information but needed to delve deeper to extract specific metrics around segmentation by gender or wage structure.
 
The process of going through the assessment for the first time is hard because the information you’re collecting and producing is new; the next time companies go through the GIIRS process, I believe it will be easier. The best part of the process for the companies was realizing that there is a wealth of information in the impact data that can help them manage their business better. Our portfolio companies are taking what they learned through the GIIRS assessment and using it to identify weaknesses in their business model.

IGNIA is preparing to raise a new fund. How has your GIIRS Rating factored into the process, or how do you expect it will be used as you approach investors for the new fund?

We see being a GIIRS rated fund as adding legitimacy to our mission and our commitment to improve impact over time. As we are going back to the market to raise our second fund, we’re seeing that the impact investing landscape has gotten bigger, with more people looking for and providing funding. One way we can highlight our commitment to impact investing is through our GIIRS rating, and we will showcase this in our new fundraising process.

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B Analytics will help streamline reporting, enhance robust benchmarking, add legitimacy to the sector, and enable the broader market to understand what impact investing is. Tanya Beja, Head of Industry and Investor Relations, IGNIA

10,000 Companies 146 Countries 196 Industries 92 Funds

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