At Ananda we believe that ‘doing good’ is no longer just a matter of ethics – it’s also good business. To prove this, we have been tracking quantifiable impact KPIs over time and we proudly share the outcomes on this report.

Our track record speaks for itself:

So far we invested in 35 companies and 8 of them have had an exit.

Each of our portfolio companies has a unique mission and solution to tackle the world biggest challenges at scale. For this reason, at the beginning of a company investment period, we work together to define a unique set of impact KPIs and targets that are closely linked to each company business model. If the business grows, the impact grows. This ensures there is no trade-off between impact and profitability—because true impact has to be built into a company’s DNA.

Each companies growth contributes to our vision of leveraging capitalism to deliver positive impact to people and planet at scale. We visualise the combined Portfolio Impact as ‘impact multiples’. Here is how they are calculated:

At the company level, the realised impact values are divided by the target values and then weighted to determine the Company Impact Multiple. On the basis of the Impact Multiples of each portfolio company an overall Portfolio Impact Multiple is calculated.

An impact multiple over 1 means we have exceeded our impact targets, a multiple of less than 1 means we have not met our impact targets (yet).

Fund II has been the first fund in Europe linking impact and carry, so we are especially proud to show that the theory holds up in real life. With Fund II we have already surpassed our impact targets by 30%. This is an important milestone to us.

Fund III is currently closer to the middle of the fund life cycle and on a good trajectory towards achieving the impact goals as well. To increase the understanding of impact multiples along fund life cycles, we have included the multiple for Fund IV. As we are still at the beginning of the fund, the available data is limited.

While the impact KPIs are the core part of how we assess the output of our portfolio companies, we strongly believe that this should go hand in hand with fair and sustainable internal processes.

For this reason we have launched a project to efficiently collect a total of 53 ESG data points from each portfolio company. Here are some selected metrics from our data collection conducted in H1 2023 covering the year 2022.