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Impact

Using Capital as a
Force
for Good

Driving positive environmental and social impact through our
clients’ portfolios, in alignment with their mission, has been at
the core of Capricorn’s investment philosophy
since inception.

An Integrated
Approach to Impact

Impact is embedded in our firm’s DNA. We evaluate the potential for environmental and social impact – as well as negative externalities – at every step of our investment process.

We are committed to working with our clients to build portfolios that not only generate positive impact, but are well-positioned for the new social, environmental, and economic structures that will define the future.

Sustainable Investors Impact Report III
– Published 2024

In our third annual Sustainable Investors Fund Impact Report, we share our progress on impact and highlight the outcomes that our investees are enabling for their end beneficiaries. Capricorn established the Sustainable Investors Fund (SIF) to support early-stage, mission-aligned asset management firms capable of driving change at scale, and our approach is anchored in the belief that impact and competitive financial returns are not mutually exclusive – a large addressable gap exists in allocating capital to pressing global issues. This gap must be filled by asset managers with innovative approaches to investing for both returns and impact, at scale.

In our 2023 impact report, we outlined SIF’s vision across several key issue areas. In this report, we monitor SIF’s progress in executing our core impact goals:

  1. Addressing the climate crisis
  2. Promoting inclusive capitalism and access to healthcare
  3. Fostering sustainable markets

These priorities remain at the heart of our agenda, and we continue to see promising opportunities for specialist investors in these growing sectors. Read the full report to learn more.

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View Our Previous Impact Reports

Our SIF Impact Report II, Bridging Gaps in Impact Investing, details the progression of SIF investees against their impact goals and the ongoing enhancement of the fund’s impact strategy.
SIF Impact Report II
(Published 2023)
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To articulate SIF’s approach to investing and to document our vision for the environmental and social impact we hope to realize, we have produced our inaugural SIF impact report, Levers of Impact.
SIF Impact Report I
(Published 2021)
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We produced our inaugural TIF and TIGF impact report, Deep Impact with Deep Tech, both to document our impact vision for the fund and to display how we apply it to some of the most exciting technology startups in the world.
TIF & TIGF Impact Report
(Published 2021)
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Investing Across Key Environmental
and Social Impact Areas

We seek to generate impact for our clients in every asset class. Whether the investment is public or private, we categorize impact into four distinct issue areas. This framework facilitates integration of each client’s thematic goals into their long-term asset allocation.

Climate Change Mitigation & Resilience arrow right

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Back to Impact Areas

Protect natural resources and preserve the capability of the environment to support human life.

  • checkmark Forest conservation
  • checkmark Sustainable food & agriculture
  • checkmark Energy transition
    & resource efficiency
  • checkmark Clean energy
  • checkmark Energy efficiency
  • checkmark Sustainable transportation
  • checkmark Resource efficiency
  • checkmark Low carbon transition
  • checkmark Green real estate
  • checkmark Sustainable manufacturing

Healthcare Access
& Innovation arrow right

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Back to Impact Areas

Support healthy living through disease prevention, improved health care delivery, and health care technology.

  • checkmark Healthcare services
  • checkmark Healthcare innovation

Economic
Opportunity arrow right

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Back to Impact Areas

Improve the financial well-being and security of economically disadvantaged communities.

  • checkmark Affordable housing
  • checkmark Inclusive financing
  • checkmark Gender diversity
  • checkmark Racial equity
  • checkmark Access to quality education

Sustainable
Markets arrow right

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Back to Impact Areas

Strategically integrate impact priorities into investment diligence and business operations.

  • checkmark Aligning capital with ESG leaders
  • checkmark Engaging companies on environmental and social issue areas

Our Impact Principles

Impact Evaluation & Management


Our holistic impact framework enables consistent evaluation of our asset managers and portfolio companies. We regularly engage in dialogue about their progress and challenges.

Diversity, Equity, & Inclusion


We recognize the importance of diverse backgrounds, not only within our team, but also for the managers with whom we partner. We actively engage with fund managers to understand and improve diversity in our client portfolios.

Climate Risk Evaluation


We believe that every company has a responsibility to consider climate change – and that those who fail to do so face higher financial risks. Within our clients’ portfolio holdings, we measure greenhouse gas emissions, alignment with a low carbon future, and stranded asset risk.

Capricorn’s Impact Innovation


Over the past 25 years, we have identified numerous gaps in the impact investment ecosystem. To mobilize more capital to a broader array of issue areas, Capricorn has facilitated the creation of over 20 new strategies and asst management firms – all of which hold sustainability at the core of their respective investment philosophies.

Our Commitment
to Net Zero

We have committed to offsetting all carbon emissions from our portfolio of investments through the acquisition of high-quality nature-based removal and avoidance carbon credits. This focus on carbon neutrality comes in addition to our ongoing focus on achieving real-world impact by investing in climate solutions.

Portfolio approach to climate change mitigation arrow right

Thought Leadership

Investing in Human Rights

Human rights investments offer a spectrum of opportunities across different risk profiles, time horizons, and return expectations. Read our recent whitepaper to explore how institutional investors can strategically align capital with human rights priorities – while considering overall portfolio objectives.

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GP Stakes in Impact Investing

Capricorn Investment Group has been investing in GP stakes since 2006, committing over $1B to private GP strategic solutions for impact-native investment management firms. Read our recent whitepaper exploring the role and importance of GP Stakes in the impact investment space.

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White Paper: Creating Mission-Aligned Investment Portfolios

For over 25 years, Capricorn has partnered with mission-driven clients who have chosen to harness their investment capital for two purposes: to generate returns over the long term, and to create meaningful social and environmental impact. In our whitepaper “Creating Mission-Aligned Portfolios,” we share our approach to activating the entirety of our client portfolios to meet their unique needs and address critical global issues.

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Can Foundation Endowments Achieve Greater Impact?

Read the above study conducted by Bridgespan Social Impact and Capricorn Investment Group to learn more about the research and practical solutions for foundations to consider as they look to ramp up their allocations to impact investments.

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Industry Partnerships

We believe in the power of collaboration to advance our collective missions. To support our clients’ interests, we have developed strategic partnerships with a range of non-profit networks and targeted initiatives, including: