Market Building

We are building up the social finance market in two key ways:

  • Technical Assistance
  • Impact Measurement Programming

 

Technical Assistance

Through intentional outreach, we are providing select assistance at both pre-investment and post-investment stages to new and emerging social finance intermediaries (SFIs) for whom we conclude our limited resources would be most catalytic and systemically impactful. We are aiming to uncover opportunities with, in and for traditionally underserved communities where there would be market-wide benefit. In our first year we supported three organizations (see our public announcement for more details).

Impact Measurement Programming 

We offer several services to help SFIs with impact measurement and management (IMM). We offer these programs to all SFIs that have received SFF funding, from any of the three fund-of-funds managers, whether us, Boann Social Impact or Fonds de Finance Sociale – Cap Finance.

Whether you’re an SFI that is new to IMM and need help getting started, wish to tweak your IMM or hope to evolve it in line with global leading practice, we can help through:

  • Cohort Programming with Embedded Peer-to-Peer Learning. Led by our partner Impact Frontiers
  • Workshops on advanced IMM topics. Led by our partner Impact Frontiers
  • Common Impact Data Standard Support. Led by our partner Common Approach to Impact Measurement

About our Partners

Impact Frontiers is an internationally recognized leader in spearheading the creation of practices and tools in impact methodology that have been adopted as global standards and best practices. It has run IMM cohort programs around the world, including in Canada, that enable investors to incorporate impact into investment decision-making.

Common Approach to Impact Measurement grew out of government consultations and task forces to support social enterprise. Today, Common Approach is a community-driven initiative and independent nonprofit. Its theory of change is rooted in the belief that impact measurement can be improved by becoming  more relevant to SPOs. It is working towards flexible, shareable impact measurement centred on the needs of SPOs. By creating standards for flexible, shareable measurement, investors and funders get the impact data they need without imposing additional burdens on the organizations they fund or invest in.

Cohort Programming and Peer-to-Peer Learning: IMM for the Social Finance Fund

“IMM for the Social Finance Fund” is an online, instructor-led practical course specifically developed for SFF participants. It is being led by Impact Frontiers in partnership with us. The program aims to enhance SFIs’ ability to incorporate impact decisions into financial decision-making, measure impact and manage portfolios for greatest impact. The program will run over four months, twice a year, starting in September.

Through this course, cohort members will:

  • Articulate their impact goals are and how they aim to achieve them
  • Learn about the Five Dimensions of Impact
  • Formulate impact ratings and integrate impact alongside financial performance for decision-making
  • Establish an IMM data collection framework and learn how to use Common Impact Data Standard-aligned software for impact monitoring and management of their portfolios
  • Explore how to identify and manage negative impacts
  • Explore impact management during the exit and reporting stages of the investment process

Opportunities for peer-to-peer learning from other participating SFIs will be embedded in this program. 

 

Workshops
Workshops on a variety of topics related to IMM will be hosted by Impact Frontiers and other IMM experts throughout the year.

Common Impact Data Standard Support

In collaboration with all managers and through a partnership with Common Approach to Impact Measurement, we’re helping SFIs to implement the Common Impact Data Standard so it is easier for them to measure and share the impact of their work.

SFIs that receive investment through the SFF are required to collect data about the social purpose organizations (SPOs) they invest in. This will need to be reported alongside data about the SFI itself. The required data includes information about the organization, the investments and the intended impacts of the SPO, collected and shared using the Common Impact Data Standard.

The data standard was developed to complement SFIs’ existing impact measurement practices in ways that their investee SPOs will appreciate. The data standard is a standardized way to represent a SPO’s impact model (that is, their theory of change, logic model or outcome chain). It enables the exchange of impact information without requiring standard indicators. The data standard helps to make impact data flexible and shareable between SPOs, SFIs and wholesalers.

The Common Impact Data Standard makes it easier to share impact measurement and improve reporting.

  • The Common Impact Data Standard will provide investors with a clear understanding of the outcomes and impact achieved by investments
  • A flexible, shareable approach to collecting critical data will ensure we all better understand the distribution of capital to equity-deserving communities
  • Education and capacity building will facilitate adoption by the broader impact investing sector

While we’re currently focused on offering direct support for SFIs, to support the social finance market as a whole we will be offering resources to SFIs to support their investee SPOs to effectively measure impact.

Stay in touch on LinkedIn to learn more about these market-building activities, our investment strategies and the wide impact Realize Fund I is having.