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 2024 PROFILE

Active Impact Investments
Management Inc.

Total Assets Under Management: $50 – 99M
Asset Class: Cash / Cash Alternatives, Private Equity
Primary UN Sustainable Development Goal: 13 – Climate Action
Climate Change
Natural Resources and Conservation

Firm Overview

Category: Venture Capital - Early Stage (Pre-seed/seed, Accelerator, Angel) - Developed Markets

Active Impact Investments is a Certified B Corp based in Vancouver, BC, whose mission is to support environmental sustainability through profitable investment. With two limited partnership funds with $70M in assets under management, we provide funds and talent to accelerate the growth of early-stage climate tech companies with $200K to $3M in revenue and significant growth potential. Our portfolio includes and is seeking some of the most successful startups in North America that are capable of achieving venture scale and becoming extremely profitable while solving the most urgent environmental issues.

Firm Headquarters: United States
Years of Operation: 5 – 9 years
Total Assets Under Management:
$50 – 99M
Total Number of Investors: More than 25
% of Capital from Top 3 Investors: Less than 25%
Investment Thesis:

We provide capital and talent to accelerate the growth of early-stage climate tech ventures catalyzing the transition from finite to infinite sources of energy, food, water & products. 

Investment Overview:

We partner with startups that are capable of achieving venture scale and profitability while solving the most urgent environmental issues. We focus on four main climate tech verticals: clean energy & transportation, infrastructure & carbon solutions, sustainable food & water, and circular & sharing economy. Within these verticals, we focus on Seed and Series A stage technology companies — primarily (but not exclusively) software as a service — where our expertise is of greatest use. We provide active support in addition to capital by helping technical founders where we are strongest and where they need it most: fundraising, sales and talent.

Company Differentiator:

Placing bets in impactful companies isn’t enough. We are a team of operators with decades of sales, recruiting, legal, and organizational leadership and expertise. With our hands-on, outcome-focused approach, we help founders where they need it most: hiring, fundraising and sales.  We average over 1052 interactions per company and to date have placed 26 key hires (38% of which are females in leadership roles), supported revenue growth over 7.3X since our initial investment across both funds, and helped catalyze 34X the capital we deployed in Fund I.  In 2022, we grew our specialized talent offering by bringing on a fractional Recruiter and HR Manager. She has created a talent hub that helps all our founders assess their culture, refine their hiring process and generally be more competitive in the market for key talent. She is continually finding key hires for our companies with an emphasis on diversity. 

Investment Example

SWTCH | Toronto, ON POC co-founded, female co-founded, first-time founders  SWTCH is a fully managed end-to-end solution that plans, installs and manages electric vehicle charging infrastructure for multi-residential buildings and offices. In 2022, SWTCH charged 1579 megawatt hours of electricity and mitigated 1153 tonnes of CO2 equivalent. Since our initial investment, we have been highly influential in establishing the sales team infrastructure, systems and incentives that have led to their 16X charging station growth and 14.2X increase in revenue (as of June 30, 2023). We placed their Head of Sales who has built a sales team from scratch that now exceeds 30 people and is still growing aggressively. SWTCH is in the process of closing their Series B financing at a 10.3X share price appreciation to our initial investment led by an investor that we introduced. 

Leadership and Team

Cumulative Leadership Experience in Impact Investing:
10 – 19 years
Cumulative Impact Experience of Top Three Firm Leaders:
10 – 19 years
Mike Winterfield – Managing Partner More Info

Mike has spent over 20 years in executive roles in software, professional recruitment and venture capital. Mike founded Active Impact after his role as COO at Traction on Demand and President of Traction Rec. Prior to that he was President of Randstad Professionals, running $300M in revenue and placing thousands of people in key roles. Mike brings strong expertise in enterprise sales leadership and building high performing teams. He’s an advisor at several accelerators including CDL Vancouver Climate and Spring Activator, and serves as a Board Director for portfolio companies RailVision, Flair, Future and Agrology.

Tom Boddez – General Partner More Info

Tom has spent 27 years practicing tax law with Thorsteinssons LLP, Canada’s leading tax law firm, including a tenure as the Managing Partner. Recognized as a Canadian leader in that field, he worked with high net worth individuals and major corporations. He joined Active Impact as a Partner in early 2018 shortly after it was founded and provides his expertise on evaluating portfolio opportunities, legal matters, raising capital and anything else that can increase impact in the portfolio and financial returns for investors.

Elyse Crowston – VP Operations More Info

Elyse began her career cultivating climate and sustainability campaigns at Ecojustice, Canada’s largest environmental law charity, where she recognized the need for financial incentives to drive environmental action. Elyse then spent five years with Renewal Funds where she supported their raise of $147M for sustainable consumer goods and environmental technology. Elyse was most recently with Rhiza Capital, helping cultivate an accessible place-based venture fund. She brings her generalist knowledge to our operations, communications and community cultivation. Outside of work, board and advisory activities, Elyse is usually exploring the BC coastline or planning elaborate dinner parties. In 2020, Elyse was named a Clean50 Emerging Leader.

Financial Performance

Target Financial Returns Relative to Benchmark:
Above 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:
Addressing climate change and environmental issues
Secondary Impact Outcomes:
Conserving land, oceans, ecosystems and natural resources
Creating jobs
Increasing access to water and sanitation
Addressing gender inequities
Value-added Services Offered:
Access to markets
Racial bias training or bias training
Human Resources, recruiting and professional development services

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

We only invest in business models where the revenue and climate impact are inextricably linked: when revenue grows, positive impact grows and vice versa. We also consider the founding team's mission alignment when conducting due diligence on a company -- if a founder is not driven by the impact their company is creating then the opportunity is not a fit for us.  Although our impact north star is tCO2e (tonnes of carbon dioxide equivalent) mitigated, we also measure and report on tangential impacts aligned to each company’s specific business model, including MWh of clean energy supplied, tonnes of waste diverted, volume of water treated and meaningful employment to marginalized communities. In 2022, our portfolio companies collectively mitigated 284,835 tCO2e, represented 170,913 MWh of energy, diverted 22,805 tonnes of waste, and treated/saved 136.5M litres of water. Our 2023 goal is to hit 1M tCO2e mitigated cumulatively since our fund's inception.  

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

Since climate impact is our north star, every company we consider must first pass through a high level of impact scrutiny. We strongly believe climate progress and economic growth must be inclusive, which is why we apply an equity lens to everything we do. In executing on our climate/impact-first mission, we prioritise underrepresented, equity-deserving founders that may be overlooked or marginalised by conventional venture investors. Our screening and diligence process considers the existing founding team's diversity status as well as their mission alignment as it pertains to both DEI and climate impact. 

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: Elyse Crowston
Phone: 604-809-5386
Mailing Address:

401-106 W 1st Street, North Vancouver, British Columbia V7M 2E7 Canada

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