IMPACTASSETS 50™

An Annual Showcase of Impact Investment Fund Managers

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An Annual Showcase of Impact Investment Fund Managers

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ImpactAssets 50: A Global Landscape of Impact Investment Fund Managers
The ImpactAssets 50 (IA 50) is the first open-source, publicly published database of experienced private debt and equity impact investment fund managers.
https://www.impactassets.org/impactassets-50

ImpactAssets 50

An Annual Showcase of Impact Investment Fund Managers

IA 50 2025 PROFILE

Impact Engine
Management, PBC

Total Assets Under Management: $100 – 499M
Asset Class: Private Equity
Primary UN Sustainable Development Goal: 8 – Decent Work & Economic Growth
Climate Change
Health and Wellbeing
Microfinance and Low-income Financial Services

Firm Overview

Category: Private Equity - Growth Stage (Developed Markets)

Impact Engine Management, PBC is a women-owned and led registered investment advisor building and managing venture capital and private equity portfolios that drive positive impact in economic opportunity, environmental sustainability, and health equity.

Firm Headquarters: United States
Years of Operation: 10 years or more
Total Assets Under Management:
$100 – 499M
Total Number of Investors: More than 25
% of Capital from Top 3 Investors: Less than 25%
Investment Thesis:

Impact Engine invests in companies driving scalable solutions to improve economic opportunity, environmental sustainability, and health equity.

Investment Overview:

Impact Engine invests in companies driving scalable solutions to improve economic opportunity, environmental sustainability, and health equity. We seek complete alignment between financial and social returns such that they reinforce each other and scale together over time. As a Public Benefit Corporation, we also bring the community together in service of bringing new impact investors and impact capital to the market and building the impact investing field. Impact Engine Ventures invests in US- or Canada- based seed and Series A stage software companies with product-market fit and early revenue traction. Impact Engine Private Equity invests in growth stage, lower middle market companies with at least $10M in revenues, across industries. Private Equity also invests as a strategic limited partner in other private equity impact funds with an active engagement approach focused on helping implement impact management processes at the firm and portfolio company levels.

Company Differentiator:

Our key differentiator as a firm is our depth and experience with impact management and measurement. We have been forming and refining our processes since 2012 and regularly write or speak about what we've learned and how we've evolved. We see across impact themes and stages, which creates an advantage in sourcing and diligence. Three of our 4 partners are female, in an industry where only 9.9% of senior roles at PE firms are held by women. Three of our 4 partners are BIPOC, in an industry where an overwhelming majority of firms have no investing partners of color. A more diverse team has led to a more diverse network from which to source (our team is 64% women and 59% BIPOC). Without a diversity mandate, we have invested in 58% women or BIPOC CEOs and 55% women or BIPOC fund GPs to date.

Investment Example

We’d like to spotlight PadSplit, a digital housing marketplace that allows private landlords to convert single-family homes into affordable, co-living residences. To date, the company has hosted 28.8k+ users with a median annual income of $31,410. While total monthly rent for a one bedroom averages ~$2,155 with one-time fees (deposit, application, administrative, furniture) totalling ~$3,600, Padsplit’s monthly rent averages ~$729 with ~$120 in one-time fees. Members save $332 on average each month (12.7% of their annual incomes) by renting through PadSplit, with members’ lifetime savings totalling $47.4M+. PadSplit has 13,000 affordable housing units across 36 cities and 18 states. Through PadSplit, 95% of members have increased their credit scores, with FICO scores increasing by 48 points on average. 75% of PadSplit homes are within 1 mile of public transportation, and 2.4M tons of carbon have been saved overall on shorter commutes.

Leadership and Team

Cumulative Leadership Experience in Impact Investing:
30 years or more
Cumulative Impact Experience of Top Three Firm Leaders:
30 years or more
Jessica Droste Yagan – Partner & CEO More Info

Jessica Droste Yagan serves as the Managing Partner of Impact Engine, an impact investing firm that manages venture capital and private equity funds. She is also extensively engaged personally in impact investing and evangelizing on behalf of the impact investing field. Prior to Impact Engine, Jessica led the creation of McDonald’s Corporation’s global and U.S. sustainable sourcing strategies and worked in the field of urban economic development at the Initiative for a Competitive Inner City.

Priya Parrish – Partner & CIO More Info

Priya Parrish is a Managing Partner at Impact Engine, a venture capital and private equity investment firm focused on companies that generate positive outcomes in education, health, economic empowerment, and environmental sustainability. Prior to joining Impact Engine, she served as Chief Investment Officer at Schwartz Capital Group, a single-family office investing across global markets. Previously, Priya was Strategy Head at Aurora Investment Management, a multi-billion-dollar manager of hedge fund portfolios, and managed product development of investment products that incorporated environmental, social and governance factors at Northern Trust Asset Management and KLD Research & Analytics.

Tasha Seitz – Partner More Info

Tasha was a founding board member of Impact Engine and joined the team full time in 2014. She has been making and managing technology venture investments for over two decades. Prior to joining Impact Engine, she was a partner with JK&B Capital, a technology venture capital firm based in Chicago with $1.1 billion dollars under management, where she was responsible for identifying, evaluating, and making investments in early stage start-up software companies. Her post-investment responsibilities included serving on boards of directors, managing growth, coaching and hiring management teams, and managing investments through exit.

Financial Performance

Target Financial Returns Relative to Benchmark:
Market Rates
Actual Performance of Impact Products/Funds Relative to Target Financial Returns in the Past Three Years:
In line with initial target returns
Financial Reporting Frequency to Investors or Donors
Quarterly

Impact Performance

Percentage of Total Assets Under
Management that are Impact Investments:
100%
Primary Impact Outcomes:
Other: We have three impact themes we invest in through all of our funds, economic opportunity, health equity and environmental sustainability.
Secondary Impact Outcomes:
Addressing climate change and environmental issues
Alleviating poverty
Conserving land, oceans, ecosystems and natural resources
Increasing access to workforce development services, job skilling and retraining
Creating jobs
Increasing access to education and improving educational outcomes
Increasing access to financial services
Increasing access to healthcare services and improving health
Addressing racial inequities
Addressing gender inequities
Value-added Services Offered:
Other: We have a team dedicated to portfolio management who meets regularly with our entrepreneurs to understand the challenges and opportunities they are facing.

Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:

We only invest in companies and funds where the impact and financial returns are interlinked. This approach is integrated throughout our process, from how we set strategy and choose focus themes, to how we source and diligence companies, to our use of impact commitments and side letters, and through portfolio management and impact metric collection.

Investments systematically include social and environmental sustainability practices in the due diligence process:

In addition to our requirement that every company or fund we invest in has a core impact they are creating as they grow, we also take into account ESG factors for all companies in order to protect against unintentional negative impacts and help our companies reduce risk. We use SASB materiality factors to focus on key issues for each industry, in addition to always including DEI as a factor.

Impact Tracking and Monitoring

Impact is Tracked:
Yes
Impact Verified by an Independent Third-Party:
No
Social and/or Environmental Impact is Reported to Investors and Donors:
Yes – to the public
Third Party Validations:
Member of Impact Capital Managers
Impact Frontiers Cohort Participant
Implement recommendations from Task Force on Climate Related-Financial Disclosure
Net Zero Assets Managers Initiative
Utilizes standardized impact metrics (e.g. IRIS+, GIIRS, etc.)
Participant on steering committees or leadership roles within impact industry associations
Publisher or contributor to industry white paper or other research in impact investing

Learn More

Key Contact Name: Jessica Droste Yagan
Phone: 617-271-6147
Mailing Address:

222 Merchandise Mart Plaza, Chicago, IL 60654, USA

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