We build impact bridges that vertebrate society and strengthen social impact institutions globally.

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Impact Bridge is a Spanish asset management company devoted exclusively to quality impact investments that generate authentic, intentional, and measurable impact.

usa
Impact Focus: Climate change mitigation and adaptation
Residential and commercial solar installation company in several states. The employee base are US Navy veterans in transition to a civilian career.
USA
Impact Focus: Decent work creation
Responsible lender, loans to international students attending US universities without co-signer, collateral or US credit history.
NICARAGUA
Impact Focus: Climate change
Crop resilience for coffee farmers in Nicaragua through training and digital climate risk monitoring.
ECUADOR
Impact Focus: Access to basic services
Finance to low-income female entrepreneurs. Clients benefit from educational programmes and insurance for healthcare. It includes cancer breast detection program.
Mexico
Impact Focus: Access to basic services
Sustainable high-quality homes to low- and middle-income people. Over 2,750 houses in 10 different developments to date.
GHANA
Impact Focus: Access to basic services
Fairtrade cocoa-growers union and co- owners of chocolate producer company. Fairtrade Premium used for community development projects.
SENEGAL
Impact Focus: Decent work creation
Printing business created by Mrs. Rokhaya from a first loan of $500, which currently employs more than 20 people.
Moldova
Impact Focus: Decent work creation
Finance to first Moldovan goji berries producer, certified with a distinct Miracol stamp and exported to Poland.
Pakistan
Impact Focus: Women's empowerment
Financial institution (99% women clients), launched "Maal Maweshi Qarza" product for female farmers to purchase milking animals for dairy business.
Kyrgyzstan
Impact Focus: Financial inclusion
Non-banking financial institution focused on rural women, with the lowest interest rates among all MFIs in country.
INDIA
Impact Focus: Access to basic services
Financial solutions for low-cost private schools and their students in underserved Indian communities.
INDONESIA
Impact Focus: Women’s empowerment
Fairtrade Indonesian coffee cooperative with a line of product grown exclusively by women (“Queen Ketiara”).
CAMBOYA
Foco de impacto: Inclusión financiera
Mujer de Kampong Cham que recibió financiación para empezar a cultivar yuca en 5 Has de tierra, ahora también agrega y comercia para la exportación.
Cambodia
Impact Focus: Financial inclusion
Woman from Kampong Cham who received finance to start farming cassava in 5 Has of land, now also aggregates and trades for export.
South Africa
Impact Focus: Financial inclusion
Access to credit for drivers of minibus taxis, the main means of transportation for 69% of all South African households.
Founded in 2018 to connect the financial and business sectors with the social one to promote social cohesion and building a better world.

+80

Different countries

12M

Individuals funded

200K

Enterprises funded
  • Strong shareholding structure that combines the management team with institutional strategic investors.
  • A team of 10 people based in Madrid and Singapore with experience in top-tier financial institutions.
  • Spanish asset management company (SGIIC) regulated by the CNMV.
  • Strong relationship with academia through our Impact Bridge - IE Chair in Social Entrepreneurship and Impact Investing.
  • Our IBIST® is an impact measurement tool backed by academic research, which evaluates and measures the social and environmental impact of our investments.

We support social entrepreneurs shaping the course of society.

01
Excellence
we apply most sophisticated international institutional investors’ best practices and rigor to impact investing.
02
Authentic impact
we invest in projects that contribute to the solution of major global social and environmental challenges, validated by an impact committee composed of renowned international experts.
03
Shared value
we foster collaboration and weave alliances among our stakeholders to amplify the impact of our activity.
Santos Díaz
Santos Díaz
Investment Analyst
Consultant / Researcher at the MIT – IIT Comillas Universal Energy Access Lab
Carlos de Abajo, DBA
Porfolio Manager
M&A and Corporate Finance Associate Professor at IE Business School and ICADE
Íñigo Serrats, CFA
Managing Partner and Founder
ESG and Impact Investing Professor at IE Business School. Sustainability Committee Member of CFA Society Spain.
Arturo Benito
CEO and Founder
ESG and Impact Investing Associate Professor at IE Business School.
Fernando Sanz-Pastor
Portfolio Manager
Profesor de Economía y Ética Empresarial en ICAI-ICADE
Braulio Pareja, PhD
Head of Academic Research
Lecturer of Economics and Business Ethics at ICAI-ICADE
Florencia López André
Risk & Compliance Manager
Profesor de Economía y Ética Empresarial en ICAI-ICADE

A multidisciplinary team from international asset managers, investment banking and academia that shares the purpose of building a fairer and more sustainable world.

Committee Members
Impact Family

Ignacio López

Ignacio López

Lawyer
Linekdin

Florencia López

Florencia López

Risk & Compliance Manager
Linekdin

Fernando Sanz-Pastor

Fernando Sanz-Pastor

Portfolio Manager
Linekdin

Santos Díaz

Santos Díaz

Investment Analyst
Consultant / Researcher at the MIT – IIT Comillas Universal Energy Access Lab
Linekdin

Carlos de Abajo, DBA

Carlos de Abajo, DBA

Porfolio Manager
M&A and Corporate Finance Associate Professor at IE Business School and ICADE
Linekdin

Álvaro Navarro

Álvaro Navarro

Investment Associate
Linekdin

Inês Henriques da Silva

Inês Henriques da Silva

Senior Sales Executive
Linekdin

Íñigo Serrats, CFA

Íñigo Serrats, CFA

Managing Partner and Founder
ESG and Impact Investing Professor at IE Business School. Sustainability Committee Member of CFA Society Spain.
Linekdin

Arturo Benito

Arturo Benito

CEO and Founder
ESG and Impact Investing Associate Professor at IE Business School.
Linekdin

Alejandra Pereda

Alejandra Pereda

Senior Investment Analyst
Linekdin

Braulio Pareja

Braulio Pareja

Head of Academic Research
Lecturer of Economics and Business Ethics at ICAI-ICADE
Linekdin

Ricardo Giménez-Arnau

Ricardo Giménez-Arnau

Investment Analyst
Linekdin

Rita Grewal

Rita Grewal

Senior Investment Analyst
Linekdin
Committee Members

Rebecca Eastmond

Rebecca Eastmond

Impact Committee Chair of IB Impact Debt
Co-Founder and CEO at Greenwood Place. Member of the Acumen Board.
Linekdin

Cristina González Viu

Cristina González Viu

Impact Committee Chair of the IB Deuda Impacto España
General Director of MicroBbank. General Management Program at IESE
Linekdin

Flavia Bartolomé

Flavia Bartolomé

Investment Committee of IB Deuda Impacto España
Business Angel and startup mentor.
Linekdin

Louisa Brassey

Louisa Brassey

Impact Committee of IB Impact Debt
President of the Lucille Foundation. Non-Executive Director and Member of Heineken's Sustainability and Responsibility Committee.
Linekdin

Saskia Bruysten

Saskia Bruysten

Impact Committee of IB Impact Debt
Co-founder and Executive Co-Chair of Yunus Social Business. European Commission Expert Group on Social Entrepreneurship.
Linekdin

Jose Cerón, CFA

Jose Cerón, CFA

Investment Committee of IB Impact Debt
Head of Multi-Asset at Fonditel (Grupo Telefónica)
Linekdin

Isabela del Alcázar, PhD

Isabela del Alcázar, PhD

Impact Committee of IB Deuda Impacto España
Global head of sustainability at IE University. PhD in Molecular Biology from UAM.
Linekdin

Joaquín Garralda

Joaquín Garralda

Impact Committee of IB Deuda Impacto España
President of Spainsif. Chairman of the Ethics Committee Microbank Ethical Fund.
Linekdin

Ricardo Gorodisch

Ricardo Gorodisch

Impact Committee of IB Impact Debt
Founder and President of Fundación Kaleidos.
Linekdin

José Luis Fernández

José Luis Fernández

Impact Committee of IB Impact Debt
Director of the Iberdrola Chair of Economic and Business Ethics at Universidad Pontificia Comillas
Linekdin

José María Vera

José María Vera

Impact Committee of IB Deuda Impacto España
Expert in social organizations. Professor at Advantere School of Management
Linekdin

Eduardo Trueba

Eduardo Trueba

Investment Committee of IB Impact Debt
Independent consultant to HINWI and family offices.
Linekdin

Rebecca Eastmond

Rebecca Eastmond

Impact Committee Chair of IB Impact Debt
Co-Founder and CEO at Greenwood Place. Member of the Acumen Board.
Linekdin

Cristina González Viu

Cristina González Viu

Impact Committee Chair of the IB Deuda Impacto España
General Director of MicroBbank. General Management Program at IESE
Linekdin

Flavia Bartolomé

Flavia Bartolomé

Investment Committee of IB Deuda Impacto España
Business Angel and startup mentor.
Linekdin

Louisa Brassey

Louisa Brassey

Impact Committee of IB Impact Debt
President of the Lucille Foundation. Non-Executive Director and Member of Heineken's Sustainability and Responsibility Committee.
Linekdin

Saskia Bruysten

Saskia Bruysten

Impact Committee of IB Impact Debt
Co-founder and Executive Co-Chair of Yunus Social Business. European Commission Expert Group on Social Entrepreneurship.
Linekdin

Jose Cerón, CFA

Jose Cerón, CFA

Investment Committee of IB Impact Debt
Head of Multi-Asset at Fonditel (Grupo Telefónica)
Linekdin

Isabela del Alcázar, PhD

Isabela del Alcázar, PhD

Impact Committee of IB Deuda Impacto España
Global head of sustainability at IE University. PhD in Molecular Biology from UAM.
Linekdin

Joaquín Garralda

Joaquín Garralda

Impact Committee of IB Deuda Impacto España
President of Spainsif. Chairman of the Ethics Committee Microbank Ethical Fund.
Linekdin

Ricardo Gorodisch

Ricardo Gorodisch

Impact Committee of IB Impact Debt
Founder and President of Fundación Kaleidos.
Linekdin

José Luis Fernández

José Luis Fernández

Impact Committee of IB Impact Debt
Director of the Iberdrola Chair of Economic and Business Ethics at Universidad Pontificia Comillas
Linekdin

José María Vera

José María Vera

Impact Committee of IB Deuda Impacto España
Expert in social organizations. Professor at Advantere School of Management
Linekdin

Eduardo Trueba

Eduardo Trueba

Investment Committee of IB Impact Debt
Independent consultant to HINWI and family offices.
Linekdin

Avinier: Sub-Saharan Africa women's empowerment paradigmatic academic case

We implement impact investing’s best practices

Impact Bridge Impact Scoring Tool (IBIST®), the academia-validated proprietary tool that homogenizes any investment’s impact analysis

Focused on investments’ benefit, intention and measurement through 66 inputs classified into 15 sub-categories.
Gráfica Principal
BENEFIT
Beneficio Español
measurable
Medición Español
intentional
Intencionalidad Español
IBIST® is a pioneering, rigorous and robust tool that incorporates impact analysis’ best academic practices”

José Luis Fernández

Director of the Iberdrola Chair of Economic and Business Ethics at Universidad Pontificia Comillas

Academia plays a strategic role: it brings us closer to cutting-edge knowledge and allows us to generate impact investing rigorous knowledge

Docencia

Teaching

We provide transversal training in impact economics and sustainability to students from prestigious universities, employees of financial institutions, family offices and foundations.

+500

Students
each year

50%

of IB employees are teachers
Liderazgo

Leadership

We accompany students and help them find their purpose through impact investing

+20

Undergraduate and master's degree final projects per year

5

Interns
per year
José
Impact Bridge has allowed me to discover the transformative power of impact investing through the analysis of the social return generated by a project to accelerate Uganda’s electrification”

Victoria Vázquez

Former Impact Bridge Intern

Our academic network

Field research and scientific publications

We explore and develop new areas of knowledge in the field by connecting cutting-edge research with the reality of our beneficiaries' lives.

Our academic research in international refereed journals:
Impact Bridge-IE Chair in Social Entrepreneurship and Impact Investing
Our partnership with IE University places us right at the intersection and allows us to facilitate the interaction of academic researchers, impact practitioners on the ground and the ultimate beneficiaries of the projects we invest in.
More information

Ongoing research:

“The social value generation strategies of impact investors”

“Impact investing in the context of entrepreneurial families”

“Systemic change in the circular economy”

“Renewable energy as a catalyst for the transition to sustainability”

“Social and environmental sustainability certifications and impact measurement management”

“Survival of hybrid organizations”

“The challenges of social impact measurement”

“The impact of gender on impact investment decisions”

imagen de la cátedra para móvil

Our impact quality funds have a profitable and efficient approach to solve some of humanity’s most pressing social and environmental challenges.

IB IMPACT DEBT, FIL
We are excited about the transformative potential and additionality of the projects financed from the Fund.”

Rebecca Eastmond

Co-Founder & CEO at Greenwood Place
ODS:
ODS 1
ODS 2
ODS 3
ODS 4
ODS 6
ODS 5
ODS 7
ODS 8
ODS 10
ODS 12
ODS 13
ODS 15
Description:
  • Global, open-ended, short-term private debt fund with quarterly liquidity and monthly valuation.
  • Strategy with strong emphasis on capital preservation with target net return of 3%-5% and track record since September 2019.
  • Highly diversified with investment in more than 80 countries and financing to thousands of companies and millions of micro-entrepreneurs.
  • Invests in funds and direct investments with five main impact themes: access to basic services, climate change, decent work creation, financial inclusion and women's empowerment.
  • Classified as " Article 9" according to SFDR.
    IB IMPACT DEBT FIL: This Hedge Fund has as objective sustainable investments, which will be aligned with the SDGs (Sustainable Development Goals), seeking to end poverty through improvements in health, education, economic growth, combating climate change, and preserving oceans and forests.
IB Deuda Impacto españa, FESE
We foster this fund as an ideal instrument to help the best social enterprises scale their impact.”

Cristina González Viu

General Manager of MicroBank
ODS:
ODS 1
ODS 2
ODS 3
ODS 4
ODS 5
ODS 7
ODS 8
ODS 12
ODS 13
ODS 15
Description:
  • Closed-end private debt fund to finance impactful SMEs in Spain. (>85% portfolio) and Portugal.
  • Capital preservation focus with a net target return of 5%-7%
  • Target size of €150 million
  • Focused on social issues such as rural development, decent work creation, inclusion of vulnerable groups, women's empowerment; access to basic services (education, health, financial inclusion and energy) and environmental issues such as circular economy, support to sustainable agriculture projects, environmental transition and energy efficiency.
  • Classified as " Article 9" according to SFDR.
    IB DEUDA IMPACTO ESPAÑA: This EuSEF has as objective sustainable investments (article 9 of SFDR) which will be aligned with the SDGs (Sustainable Development Goals).

SFDR – Sustainable Finance Disclosure Regulation

SUSTAINABILITY RISK INTEGRATION POLICY

Impact Bridge Asset Management, through the products it manages, has clear sustainability objectives, specifically social impact objectives, which will be aligned with the SDGs (Sustainable Development Goals) in order to have a positive and measurable social and environmental impact.
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With a diversified strategy of investments in different asset classes, the Asset Manager identifies the major global issues (themes) related to the protection and promotion of human dignity for impact investing and aligns them with the corresponding SDGs.

To select investments, the Asset Manager considers a number of sustainability criteria, which are both value-based (an investment is positively evaluated if its ESG characteristics stand out) and exclusionary (an investment is excluded from the investment universe if its ESG characteristics are incompatible with the sustainable objective of each product):
Exclusionary criteria
Investment in issuers whose activities do not comply with the list of activities prohibited by the International Finance Corporation (IFC) of the World Bank are excluded: (i) construction of dams with high adverse effects on ecosystems and people, (ii) production or trade of any product or activity considered illegal under the laws or regulations of the host country or the international conventions and agreements, or subject to international prohibitions, (iii) projects involving the displacement of more than 5000 people, (iv) investments impacting natural areas declared World Heritage Sites or national parks or protected by the UN, (v) extraction or infrastructure impacting other protected or natural areas, (vi) production or trade of radioactive materials, except for the purchase of medical or quality control equipment or asbestos fibres (vii) fishing practices that harm protected species or biodiversity, (viii) production or activities involving harmful or exploitative forms of forced labour/child labour, (ix) projects in companies that violate local legislation on certain matters (x) production or trade of weapons and ammunition, certain alcoholic beverages, tobacco, gambling, or casinos, (xi) projects or companies majority-owned or controlled by the government of the country unless it is in the process of privatisation (xii) illegal monopolistic practices (xiii) projects or companies that support governments that infringe human rights (xiv) projects or companies that engage in certain non-voluntary family planning practices (xv) production, trade, storage, or transportation of significant volumes of hazardous chemicals, or commercial-scale use of hazardous chemicals, (xvi) production or activities affecting lands belonging to indigenous peoples, or claimed under an adjudication, without the full documented consent of such peoples.

In addition, if a potential investment scores less than 60% on the internal IBIST® measurement tool (whose operation is further developed later in this policy), it is deemed not to meet the minimum impact requirements for each fund and would be excluded from the investment universe.
Value-based criteria
Impact investments are made when they contribute positively to at least one of the impact objectives defined for each product. These investments must be shown to be acceptable in three different dimensions:
  • Benefits provided
  • Intentionality
  • Impact measurement techniques used
To assess the impact of investments, the Asset Manager has developed an impact measurement system, the IBIST® tool, which allows each investment to be analysed from a social and environmental impact point of view, from the pre-investment stage and continues while the investment remains in the portfolio, and to identify how this impact can be improved over time.

The IBIST® tool is based on 67 objective and subjective indicators and calculates a score from 0% to 100% for each investment (direct and indirect). The better the IBIST® score, the better the investment is considered from an impact standpoint.
With the dual objective of measuring and incorporating sustainability risks, and managing the Principal Adverse Impacts (PAIs) throughout the investment decision-making process, in addition to the IBIST®, the Asset Manager also has an internally developed ESG tool. This tool, which uses proprietary and third-party data, analyses the materiality (relevance) and ESG risk for each investment in relation to 32 ESG factors. The results of this tool enable the Asset Manager to identify the main negative impacts of each investment, real or potential, and to take measures to stop, prevent or mitigate them, thus ensuring that it does not, in any case, significantly harm any sustainable objective. Such measures may include taking partial or total divestment decisions.

In addition, as part of the due diligence process, the Asset Manager thoroughly analyses all governance practices of the underlying investments. Governance is closely related to the concept of intentionality, which the Asset Manager analyses and scores with its IBIST® tool. Some of the variables studied by the Asset Manager include compensation policies, employee relationships, diversity and equality policies, and the decision-making structure within the company.

Before executing each investment, the Asset Manager conducts a study of the expected impact of the investment, analysing in detail the activities to be financed and their effects on the communities, and including an explanation of how the investment is expected to contribute to the sustainable investment objective and how it will not significantly harm any other sustainable objective. If this analysis identifies that the investment would significantly harm any sustainable objective, the investment would not be undertaken. In addition, in some of the Asset Manager's investment vehicles there are contractual impact objectives or Impact Covenants, which are determined in this screening process.

For investments made, the Asset Manager provides financial support, as well as advice on how to measure and improve the impact of these investments. When analysing this impact, the Asset Manager shares the conclusions of this analysis with the issuers in which it invests (directly or indirectly), giving them tools to improve their impact and reporting.

An open dialogue takes place with all the mutual funds and issuers in which the Asset Manager invests in relation to their respective ESG factors, with the aim of improving these factors. This dialogue is continuous and includes sending annual letters in which the Asset Manager offers specific recommendations for improvement in sustainability factors that the Asset Manager identifies from the results obtained with its IBIST® tool.  

In addition, when investing through mutual funds with a corporate form, the Asset Manager participates in the corporate governance decisions of these mutual funds through proxy voting, taking into account the PAIs and other ESG issues in such voting decisions.
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