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How to measure impact a work in progress
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Amit Bouri said the GIIN’s catalog of performance metrics, called IRIS+, gets its 17,000 users ‘speaking the same language.’
Institutional investors require certain tools for making decisions clear definitions of asset classes, performance benchmarks, ratings and ways to compare.
When it comes to impact investing, however, those tools are still works in progress.
In May, the Global Impact Investing Network released its Compass methodology to give investors insight into three critical impact performance figures: scale, pace and efficiency. It also makes it possible to compare impact results. The ultimate goal of the methodology is to help develop impact benchmarks, ratings and other tools.
PORTSMOUTH Gareth Dickens sees growth for ConvenientMD as wide and deep: Wide as in the addition of up to 10 new urgent care centers annually over the next several years, deep as in offering a greater variety of health services.
Dickens, ConvenientMD’s chairman and chief executive officer, said fuel for the expansion, which could also include the acquisition of competing urgent care centers in the region, will come from an infusion of investment money from Bain Capital Double Impact.
In May, controlling interest in ConvenientMD was acquired by Bain Capital Double Impact from Starr Investment Holdings.
“The Double Impact team only invests in companies that are extremely mission-based and have social outcomes to be achieved,” Dickens said. “They’re focused on environmental sustainability, health care access and affordability, and education and workforce development. ConvenientMD is just a perfect investment for them on the health care access and affordability theme.”
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NEW YORK, June 1, 2021 /PRNewswire/ Impact Capital Managers Inc. (ICM), a network of over 65 private capital fund managers collectively representing over $13 billion in impact-focused capital and investing for superior returns and meaningful impact, announced today that Hope Tarirai Mago, Partner at HCAP Partners has been elected by network membership as Chair of the Board of Directors, effective as of April 2021. Mago joins Brian Trelstad, partner at Bridges Fund Management and Chair of the affiliated ICM Institute, in leading the governance of ICM.
Impact Capital Managers, Inc.
ICM s mission is to advance the performance of its members – collectively representing over $13B in impact-focused capital – and to scale the impact investing marketplace with integrity and authenticity. Recent field-building initiatives have included the Mosaic Fellowship, the Legal Innovation in Impact Investing Report, and the Better Money, Better World pod
ConvenientMD, a New Hampshire-based chain of walk-in health clinics including six that have sprouted in Maine over the past four years, has a new investor.
The social impact arm of global investment firm Bain Capital has acquired a share of ConvenientMD previously held by Starr Investment Holdings, according to a news release Wednesday.
Terms of the transaction were not disclosed. Bain Capital’s Double Impact business typically invests $25 million to $75 million in new portfolio companies, according to a ConvenientMD spokeswoman.
The investment will allow ConvenientMD to grow through “both service line expansions designed to make health care more affordable and accessible, and opening new locations in underserved areas,” the company said in the release.