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

Scroll

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

estados unidos
Foco de impacto: Creación de trabajo digno
Préstamos a estudiantes internacionales que asisten a universidades de EE.UU. sin aval, garantía o historial crediticio en EE.UU.
estados unidos
Foco de impacto: Mitigación y adaptación al cambio climático
Préstamos a estudiantes internacionales que asisten a universidades de EE.UU. sin aval, garantía o historial crediticio en EE.UU.
NICARAGUA
Foco de impacto: Mitigación y adaptación al cambio climático
Resiliencia de los cultivos para los productores de café en Nicaragua a través de la formación y el seguimiento digital de los riesgos climáticos.
ECUADOR
Foco de impacto: Acceso a servicios básicos
Financiación a emprendedoras con renta baja. Las clientas se benefician de programas educativos y de un seguro de asistencia sanitaria. Incluye un programa de detección del cáncer de mama.
MÉXICO
Foco de impacto: Acceso a servicios básicos
Viviendas sustentables de alta calidad a personas de renta baja y media. Más de 2.750 viviendas en 10 promociones diferentes hasta la fecha.
GHANA
Foco de impacto: Acceso a servicios básicos
Unión de cultivadores de cacao de Comercio Justo y copropietarios de una empresa productora de chocolate. La Prima de Comercio Justo se destina a proyectos de desarrollo comunitario.
SENEGAL
Foco de impacto: Creación de trabajo digno
Negocio de impresión a partir de un primer préstamo de 500 dólares, que actualmente da empleo a más de 20 personas.
MOLDAVIA
Foco de impacto: Creación de trabajo digno
Financiación al primer productor moldavo de bayas de goji, certificadas con un sello distintivo de Miracol y exportadas a Polonia.
PAKISTÁN
Foco de impacto: Empoderamiento de las mujeres
Institución financiera con (99% de clientes mujeres), lanzó el producto "Maal Maweshi Qarza" para que las agricultoras compraran animales de ordeño para su negocio de productos lácteos.
KIRGUISTÁN
Foco de impacto: Inclusión financiera
Institución financiera no bancaria centrada en las mujeres rurales, con los tipos de interés más bajos de todas las instituciones microfinancieras del país.
INDIA
Foco de impacto: Acceso a servicios básicos
Soluciones financieras para escuelas privadas de bajo coste y sus alumnos en comunidades indias desatendidas.
INDONESIA
Foco de impacto: Empoderamiento de la mujer
Cooperativa indonesia de café de comercio justo con una línea de producto cultivado exclusivamente por mujeres ("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.
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.
SUDÁFRICA
Foco de impacto: Inclusión financiera
Acceso al crédito para los conductores de taxis minibús, principal medio de transporte para el 69% de los hogares sudafricanos.
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
Países diferentes

12M

12 millones

Individuals funded

200K

200.000

Enterprises funded
  • Strong shareholding structure that combines the management team with institutional strategic investors.
  • A team of 23 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
Co-Head AgriFood Fund
M&A and Corporate Finance Associate Professor at IE Business School and ICADE
Íñigo Serrats, CFA
Managing Partner and Cofounder
ESG and Impact Investing Professor at IE Business School. Sustainability Committee Member of CFA Society Spain.
Arturo Benito
CEO and Cofounder
ESG and Impact Investing Associate Professor at IE Business School.
Fernando Sanz-Pastor
Co-Head AgriFood Fund
Profesor de Economía y Ética Empresarial en ICAI-ICADE
María Samoilova
Managing Partner, Head of IB Deuda Impacto España
Profesor de Economía y Ética Empresarial en ICAI-ICADE
Braulio Pareja, PhD
Head of Academic Research
Lecturer of Sustainability & ESG and Business Ethics at Universidad Pontificia Comillas (ICAI-ICADE) and IE Business School
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

Arturo Benito Olalla

Arturo Benito Olalla

CEO & Cofounder
CEO and Founder of Impact Bridge. He is ESG and Impact Investing Associate Professor at IE (Instituto de Empresa). Arturo developed most of his professional career managing ethical and sustainable funds. In 2013 he started to co-manage a sustainable agriculture multi-asset fund. In 2016 he supported the launch of an impact investment program through various funds: private debt, private equity and listed equity. Arturo started his career in 2006 working for Boston Consulting Group as an intern in the Energy team (Oil and Gas). Later he worked at Morgan Stanley as an investment analyst in London. In 2010 Arturo moved to Cambodia to work as a volunteer for over a year. There he founded Karuna Education Center, providing computer and English training for the vulnerable population. In 2011 he joined Equilibria Capital Management Hedge Funds investment team following which he became a Portfolio Manager at Santalucía Asset Management. In 2018 he founded Impact Bridge. Arturo teaches financial modelling in the Master in Financial Markets at CUNEF Business School. He is a Telecommunications Engineer and has a PLD from Harvard Business School. Arturo received a Citywire A rating in 2018, assigned to managers in the top 15% of their relevant category.
Linekdin

Íñigo Serrats Recarte, CFA

Íñigo Serrats Recarte, CFA

Managing Partner & Cofounder
Managing Partner and Founder of Impact Bridge. Íñigo is ESG and Impact Investing Professor at IE (Instituto de Empresa); a member of CFA Society Spain’s Sustainability Committee; Board Member of Faraday Venture Capital S.G.E.I.C and Strategic Partner of Faraday Venture Partners; and Associate Professor at CUNEF and CFA Society Spain. Íñigo joined from Morgan Stanley where he acted as Vice President. Previously he was Director of Financial Institutions for Spain and Latin America at Robeco Asset Management. Before he worked for Caixabank Asset Management as responsible for SRI and Ethical Investments and at BBVA Group as an investor relations executive (BBVA) and fund manager (BBVA Asset Management). He was CFA Society Spain’s Vicepresident of the Board (2016-18) and Board Member (2009-16). He is a CFA charterholder, holds a Master’s degree in Asset Management and Private Banking (BBVA Finance School) and holds two Licentiate Degree in Business Administration (CUNEF) and Actuarial and Financial Sciences (ICADE). He was member of the Ethics Committee of Microbank Ethical Fund, managed by Caixabank Asset Management from 2012 to 2014.
Linekdin

Carlos de Abajo Llamero

Carlos de Abajo Llamero

Managing Partner & Co-Head of IB Sustainable Agrifood Fund
Portfolio Manager at Impact Bridge, Doctor Business Administration in Management and Technology, professor of Corporate Finance at Instituto de Empresa (IE) and professor of M&A at ICADE. Before, he was Managing Director and Head of M&A for Spain and Portugal at Bank of America (2014-2021) where he led private M&A deals (Gransolar, GALP gas distribution network, Gestamp solar energy business, Memora, Eolia, Tecnocom or Aktua among others) and public transactions (NH Hotels, DIA, Telepizza’s IPO and KKR’s subsequent tender offer or El Corte Inglés capital restructuring and high yield bond offering). Previously, he spent thirteen years at Morgan Stanley as Head of M&A for Spain and Portugal and Head of cross-border Europe/LATAM (2000-13). Carlos collaborates with the Global Commission to End Energy Poverty (led by the MIT/Comillas Universal Energy Access Laboratory with funding from the Rockefeller foundation). Carlos has a Double Degree in Business Administration and Spanish Law from ICADE.
Linekdin

Maria Samoilova

Maria Samoilova

Managing Partner & Head of IB Deuda Impacto España
Maria benefits from 18 years experience in Investment Banking at J.P. Morgan, most recently holding the role of Managing Director, Head of Iberia M&A. Maria joined J.P. Morgan in 2006 as a member of the Leveraged Finance team in New York. In 2008, she moved to London to work in the CEEMEA M&A team, and subsequently in the Diversified Industrials sector coverage team. In 2015, Maria joined the Iberia Corporate Finance team in Madrid where she became the head of Iberia M&A. Maria graduated Magna Cum Laude from Tufts University (Massachusetts, USA) with a degree in Economics. Originally from Crimea, Maria speaks English, Russian, Spanish, French and Ukrainian.
Linekdin

Fernando Sanz-Pastor del Olmo

Fernando Sanz-Pastor del Olmo

Managing Partner & Co-Head of IB Sustainable Agrifood Fund
Previously, he was a Managing Director at Alantra Private Equity, where he worked for most of his professional career, specializing in the agri-food sector and leading the firm's ESG strategy. During his 16 years at the firm, Fernando has been involved throughout the lifecycle of three funds, gaining experience in acquisitions, monitoring, and divestments in various companies. As a member of the Board of Directors, he has managed investments in companies in the agri-food (Panasa, Mivisa, Frías Nutrición, Betapack), education (Laude Schools), healthcare (Xanit), and industrial (ZIV, MD Group) sectors. Before joining Alantra Private Equity, Fernando worked at Arthur D. Little and The Royal Bank of Scotland. He holds a degree in International Business Administration from ICADE.
Linekdin

Juan Molina Huertas, CFA

Juan Molina Huertas, CFA

COO & CFO
Chief Operating and Financial Officer at Impact Bridge since March 2025. Previously, he was Deputy Director of Investees at SEPI where he has worked since 2001 in strategic planning, operational and financial control, privatisations, restructuring, authorisation of investments and operations of the Group's companies in the venture capital, real estate, agri-food, tourism, media, health, defence and leisure sectors, among others, for over 20 years. Member of the Board of Directors in investee companies (agricultural sector). Previously worked as Controller in the Telecommunications division and Financial Director of its subsidiaries in Isolux Watt, as well as in various executive positions in distribution and insurance companies. He began his professional career in the insurance sector, where he was Financial Administrative Director of Metrópolis. He holds a degree in Economics and Business Administration (UCM-CEU), CFA charterholder, and Executive MBA from the Ie Business School. He has been a member of the Board of Directors of CFA Society Spain (2011-2021) and Executive Director (Treasurer 2017-2021) and is currently Chairman of the Education Committee. Member of the faculty of CFA Society Spain since 2009. He has been a lecturer in the Master's Degree in Finance at ICADE (2012-2017) and has taught courses and seminars on financial analysis at IEB, AFI, Universidad Politécnica de Madrid, and in the Master's Degrees in Finance at Garrigues, CUNEF, CIFF, UAH, and UCM.
Linekdin

Alejandra Pereda Alonso

Alejandra Pereda Alonso

Co-Portfolio Manager of IB Impact Debt
Senior Investment Analyst at Impact Bridge since February 2020. Alejandra joined from Morgan Stanley where she spent most of her professional career: 20 years since AB Asesores was acquired by the investment bank. During that time, based in Madrid and London, she became Executive Director of Equity Research and headed the coverage of European Building Materials, Construction and Infrastructure industries. Alejandra previously fulfilled a role as lead analyst working in relevant IPOs such as Inditex, HeidelbergCement, Grohe or VolkerWessels. Her career started in AB Asesores in 1995, just before having finished the undergraduate studies, where she focused on the Spanish stock market, in particular, in small caps operating in retail, paper and tobacco. She holds an undergraduate degree in Economics and Business Administration from ICADE (Comillas Pontifical University), completed between 1991 and 1996.
Linekdin

Inés Narváez Barba

Inés Narváez Barba

Head of Legal & Compliance
Inés joined Impact Bridge in 2025 as Head of Legal and Compliance. Previously, she worked in the Legal and Compliance Department at Morgan Stanley between 2017 and 2024. Previously, she worked as a lawyer at Pérez-Llorca and Uría Menéndez. She studied the Double Master's Degree in Access to the Legal Profession and Corporate Legal Advice (LL.M.) at IE between 2013 and 2014.
Linekdin

Álvaro Navarro Reguero

Álvaro Navarro Reguero

Vice President & Head of Impact
Linekdin

Braulio Pareja Cano

Braulio Pareja Cano

Head of Academic Research
Head of Academic Research at Impact Bridge, Braulio has a hybrid profile between the sector of impact finance/sustainability and academia. He teaches Sustainability & ESG, Business Ethics, Corporate Governance and Economics at Universidad Pontificia Comillas (ICAI-ICADE), IE University, IE Business School and the University of San Diego. He has published academic articles on impact measurement in prestigious international journals such as the Journal of Social Entrepreneurship and the Journal of Management for Global Sustainability. He holds a degree in History from the University of Salamanca and a Masters in International Development Cooperation from the Universidad Pontificia Comillas-ICADE. He also holds a Doctorate in Economics and Business from the Universidad Pontificia Comillas. He completed his Ph.D. at the Chair of Economic and Business Ethics, through an FPU research grant, and also completed the official Master of Research in Economics and Business. In 2017 he defended his Cum Laude doctoral thesis on the financing of social entrepreneurship and the behaviour of impact investors in their investment decisions, from a behavioural finance approach. Since 2022, he is the research project manager of the Impact Bridge-IE Chair in Social Entrepreneurship and Impact Investing. He was also the founder of Socialemprende, the Spanish Association of Social Entrepreneurs (2012-2018). He has experience in impact measurement with development aid organisations in Kenya, as well as in impact measurement and research projects in South Africa and Colombia. Braulio is amember of DIRSE, the Spanish Association of Sustainability Executives.
Linekdin

Juan Mazarrasa Chávarri

Juan Mazarrasa Chávarri

Investment Associate
Juan joined Impact Bridge in 2025 as an Associate Investment Analyst. Previously he was Vice-President in Bank of America's Iberia M&A team. Previously he worked at Mediobanca in the Iberia M&A team. He holds a double Master's degree in Industrial Engineering and MBA from ICAI and a Bachelor's degree in Industrial Technologies from Universidad Carlos III de Madrid.
Linekdin

Santos Díaz Pastor

Santos Díaz Pastor

Investment Associate
Investment Associate at IB Deuda Impacto España. Prior to joining Impact Bridge in 2022, Santos worked as a strategic consultant for governments and multilateral institutions, including the World Bank, the Inter-American Development Bank (IDB), UNDP, GIZ, and the Massachusetts Institute of Technology (MIT). In this role, he designed integrated, least-cost electrification plans based on renewable energy, enhancing the economic and regulatory viability of projects across developing countries in Latin America, Sub-Saharan Africa, and Southeast Asia. Alongside his current role, Santos is pursuing a Ph.D. in energy infrastructure finance at the Institute for Research in Technology (IIT-Comillas), in collaboration with MIT’s Global Commission to End Energy Poverty, supported by a Rockefeller Foundation fellowship. During the 2023–2024 academic year, he was invited as an affiliated researcher at MIT, where he developed an integrated regulatory and financial proposal aimed at accelerating universal energy access in emerging economies. His career in the energy sector began at Red Eléctrica de España, where he managed structural data of the electricity system and contributed to key national market transactions. Santos holds a degree in Industrial Engineering from the Technical University of Madrid (ETSII) and a dual master’s degree in Industrial Engineering and the Electric Power Sector from ICAI-Comillas. In 2021, he was selected by the Rafael del Pino Foundation and the Sabadell Foundation for the Talento Celera program, a prestigious initiative recognizing ten of the most promising Spanish innovators under 35 creating high economic and social value.
Linekdin

Ricardo Giménez-Arnau López de Yela

Ricardo Giménez-Arnau López de Yela

Investment Associate
Investment Analyst at Impact Bridge since September 2020. Previously, Ricardo completed two summer internships at Impact Bridge in 2019 and 2020, in which he provided support to the investment team, and wrote his final thesis in conjunction with the firm. He studied an undergraduate double degree in Business Administration and International Relations at ICADE (Comillas Pontifical University) between September 2015 and May 2020, a period during which he received the Academic Excellence Grant by CAM for four consecutive years and two scholarships from ICADE (one from university itself and another from the “Club Empresarial”, an association of alumni) that rewarded academic performance. Additionally, he has completed two semesters abroad, one in McGill University (Montreal, Canada) and another one in Singapore Management University (Singapore), and has worked as an investment banking off-cycle analyst at Société Générale. Lastly, he has been involved in several volunteering experiences in Madrid (Spain), such as Bokatas, that involves homeless people, or Suorine, that helps children in risk of exclusion.
Linekdin

Laura Aranguren Adán

Laura Aranguren Adán

Investment Associate
Investment Associate since March 2025. Previously, Laura worked as an associate in the investment team of Oquendo Capital between 2022 and 2025 and in the Restructuring department of KPMG (2020-2022). She studied a degree in Business Administration and Management at the University of Deusto between September 2016 and June 2020. In addition, she spent a semester abroad at the University of Stockholm (Sweden) and has worked as an analyst trainee at Deloitte. Finally, she has participated in several volunteering experiences in Spain and Ecuador.
Linekdin

Pedro Sánchez Perucho

Pedro Sánchez Perucho

Investment Analyst
Investment analyst since September 2023. Before joining Impact Bridge, Pedro began his professional career at Alantra Private Equity. He studied Business Administration at ICADE (Comillas Pontifical University) from September 2016 to May 2020. Additionally, he has participated in volunteer work with FAMMA Cocemfe, an organization dedicated to supporting people with physical and organic disabilities.
Linekdin

Isabela Lantero Hernández

Isabela Lantero Hernández

Investment Analyst
After an internship at Impact Bridge, Isabela joined Impact Bridge as an Investment Analyst in September 2024. She studied a double degree in Business Administration and Business Analytics at ICADE (Universidad Pontificia Comillas) between September 2019 and May 2024. In addition, she completed two exchange semesters abroad, one at the University of San Diego (San Diego, USA) and another at WHU - Otto Beisheim School of Management (Germany), and an internship at BlackRock in the Investment Accounting department.
Linekdin

Lia Freire Pasquau

Lia Freire Pasquau

Investment Analyst
After an internship at Impact Bridge, she joined Impact Bridge as an investment analyst in September 2024. She studied a double degree in Business Administration and Business Analytics at ICADE (Universidad Pontificia Comillas) between September 2019 and May 2024. In addition, she completed two exchange semesters abroad, one at the University of Gothenburg (Sweden) and another at Marquette University (USA). She was an intern at EY, in the Strategy & Transactions department and at Bolsa Social, as an equity investment analyst.
Linekdin

Juan Carlos Miralles Bonilla

Juan Carlos Miralles Bonilla

Investment Analyst
Investment Analyst since May 2025. Previously, Juan Carlos worked as an Investment Analyst at La Bolsa Social starting in May 2024. He studied Aerospace Engineering at the Universitat Politècnica de València from 2018 to 2024, where he led a team focused on aircraft design and manufacturing, earning several international awards in the SAE Aero Design competition. Additionally, he volunteered for four years as a scout leader in Denia.
Linekdin

Iratxe Ibáñez Peláez

Iratxe Ibáñez Peláez

Investment Analyst
Investment analyst since April 2025. Previously, Iratxe worked as an analyst in the CMAAS (Capital Markets & Accounting Advisory Services) team at PricewaterhouseCoopers (PwC) between 2023 and 2025. Previously, she was an intern at Deloitte in the GIOS (Global IFRS and Offerings Services) department from January to May 2023. She studied a degree in Economics at Universidad Carlos III de Madrid between September 2019 and June 2023. In addition, she is currently studying a master's degree in Corporate Finance, M&A and Private Equity at the Isbif School of Finance until June 2025.
Linekdin

Ignacio López

Ignacio López

Lawyer
Lawyer in the legal department of Impact Bridge since April 2023. Ignacio is a lawyer specialized in regulatory compliance for financial entities. In the past, he has worked at the law firms Baker & McKenzie and Uría Menéndez, where he provided regulatory advisory services to collective investment management companies, banks, and other financial entities, including a secondment in the regulatory compliance department of Goldman Sachs in Spain. He holds a degree in Law and Business Administration from the Universidad Complutense de Madrid, has completed the Financial Institutions Program at IE Law School, and is a member of the ICAM (Madrid Bar Association). He has also been involved in various volunteer experiences in Madrid, such as Bokatas, which supports homeless individuals.
Linekdin

Flavia Bernar

Flavia Bernar

Investment Associate
Flavia joined the energy investments team in April 2025. She has previously worked in the energy sector from various angles. She began her career in 2020 in the business development department at Acciona Generación Renovable; in 2022, she joined the energy management team at Qualitas Energy, and in 2024, she moved to G-advisory (part of the Garrigues Group), where she conducted due diligence on renewable energy projects. She holds a bachelor’s degree in Industrial Engineering with a specialization in energy technologies from the Universidad Politécnica de Madrid (ETSII) and completed the corresponding masters degree from the Universidad Politécnica de Madrid (ETSII) and Illinois Institute of Technology (IIT).
Linekdin

Teresa Trueba

Teresa Trueba

Impact Analyst
Impact Analyst since May 2025. Previously, Teresa worked as a Business Analyst at McKinsey & Company from September 2023 to May 2025. Prior to that, she was part of the innovation and product development team at Clarity AI, focusing on the EU taxonomy. During her studies at IE University, she completed internships at Impact Bridge and IBM. She graduated in Information Systems Management in 2022, with a final thesis focused on impact investing for electrification projects in Uganda.
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

Louisa Brassey

Louisa Brassey

Impact Committee of IB Impact Debt
Chair of the Lucille Foundation.
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

Cristina Rembado

Cristina Rembado

Investment Committee of IB Deuda Impacto España
Independent consultant at CaixaBank Asset Management
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

Louisa Brassey

Louisa Brassey

Impact Committee of IB Impact Debt
Chair of the Lucille Foundation.
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

Cristina Rembado

Cristina Rembado

Investment Committee of IB Deuda Impacto España
Independent consultant at CaixaBank Asset Management
Linekdin

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

Arturo Benito Olalla
CEO & Cofounder
Íñigo Serrats Recarte, CFA
Managing Partner & Cofounder
Carlos de Abajo Llamero
Managing Partner & Co-Head of IB Sustainable Agrifood Fund
Maria Samoilova
Managing Partner & Head of IB Deuda Impacto España
Fernando Sanz-Pastor del Olmo
Managing Partner & Co-Head of IB Sustainable Agrifood Fund
Juan Molina Huertas, CFA
COO & CFO
Alejandra Pereda Alonso
Co-Portfolio Manager of IB Impact Debt
Inés Narváez Barba
Head of Legal & Compliance
Álvaro Navarro Reguero
Vice President & Head of Impact
Braulio Pareja Cano
Head of Academic Research
Juan Mazarrasa Chávarri
Investment Associate
Santos Díaz Pastor
Investment Associate
Ricardo Giménez-Arnau López de Yela
Investment Associate
Laura Aranguren Adán
Investment Associate
Pedro Sánchez Perucho
Investment Analyst
Isabela Lantero Hernández
Investment Analyst
Lia Freire Pasquau
Investment Analyst
Juan Carlos Miralles Bonilla
Investment Analyst
Iratxe Ibáñez Peláez
Investment Analyst
Ignacio López
Lawyer
Flavia Bernar
Investment Associate
Teresa Trueba
Impact Analyst
Commitee Members

Rebecca Eastmond

Rebecca Eastmond

Presidenta del Comité de Impacto IB Impact Debt
Cofundadora y Directora General de Greenwood Place. Consejera de Acumen.
Linekdin

Cristina González Viu

Cristina González Viu

Presidenta del Comité de Impacto IB Deuda Impacto España
Directora General de MicroBank. Programa de Dirección General en IESE
Linekdin

Louisa Brassey

Louisa Brassey

Comité de Impacto IB Impact Debt
Presidenta de la Fundación Lucille.
Linekdin

Saskia Bruysten

Saskia Bruysten

Comité de Impacto IB Impact Debt
Cofundadora y copresidenta ejecutiva de Yunus Social Business. Grupo de Expertos de la Comisión Europea sobre Emprendimiento Social.
Linekdin

Jose Cerón, CFA

Jose Cerón, CFA

Comité de Inversiones IB Impact Debt
Director de Multi-Activos de Fonditel (Grupo Telefónica)
Linekdin

Isabela del Alcázar, PhD

Isabela del Alcázar, PhD

Comité de Impacto IB Deuda Impacto España
Responsable global de sostenibilidad en IE University. Dra. Biología Molecular por la UAM.
Linekdin

Joaquín Garralda

Joaquín Garralda

Comité de Impacto IB Deuda Impacto España
Presidente de Spainsif. Presidente de la Comisión Ética MicrobBank Fondo Ético.
Linekdin

Ricardo Gorodisch

Ricardo Gorodisch

Comité de Impacto IB Impact Debt
Fundador y Presidente de la Fundación Kaleidos.
Linekdin

José Luis Fernández

José Luis Fernández

Comité de Impacto IB Impact Debt
Director de la Cátedra Iberdrola de Ética Económica y Empresarial de la Universidad Pontificia Comillas.
Linekdin

José María Vera

José María Vera

Comité de Impacto IB Deuda Impacto España
Experto en organizaciones sociales. Profesor en Advantere School of Management
Linekdin

Eduardo Trueba

Eduardo Trueba

Comité de Inversiones IB Impact Debt
Consultor independiente: grandes patrimonios y “family offices”
Linekdin

Cristina Rembado

Cristina Rembado

Miembro del Comité de Inversión IB Deuda Impacto España
Consejera Independiente en CaixaBank Asset Management
Linekdin

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

Debt

Descripción

Lorem ipsum dolor sit amet consectetur. Lectus vitae id amet tortor a interdum aliquet. At turpis dui vitae integer duis ridiculus at.

Vehicles

Lorem ipsum dolor sit amet consectetur. Lectus vitae id amet tortor a interdum aliquet. At turpis dui vitae integer duis ridiculus at.

IB DEUDA IMPACTO ESPAÑA F.E.S.E
Description
  • Closed-end private debt fund for impact-focused SMEs in Spain and Portugal.
  • Focus on capital preservation.
  • Addresses both social challenges, (rural developmentin depopulated areas of Spain, decent work creation, inclusion of vulnerable groups, women's empowerment, access to basic services such as education, health, energy, financial inclusion), and environmental, particularly, circular economy, sustainable agriculture projects, decarbonization, energy transitionand efficiency.
  • Classified as "article 9" according to SFDR.
  • Maximum size of €150 million.
150M€

Maximum Size

5M€ - 10M€

Range

+1M€

EBITDA

IB IMPACT DEBT, F.I.L.
Description
  • Global open-ended short-term private debt fund, with quarterly liquidity and monthly valuation.
  • Strategy with strong emphasis on capital preservation.
  • Track record since September 2019.
  • Invests in impact funds with five main themes: access to basic services, climate change, decent work creation, financial inclusion and women's empowerment.
  • Highly diversified with investments in more than 75 countries and financing to thousands of companies and millions of micro-entrepreneurs.
  • Classified as "article 9" according to SFDR.
100M€

Target size

1M€ - 5M€

Ticket

+25

Portfolio Positions

IB IMPACT DIRECT DEBT, F.I.L.
Description
  • Global open-ended private debt fund with semi-annual liquidity and monthly valuation.
  • Direct investments in corporate debt of companies that address both social challenges (access to basic services, decent job creation, financial inclusion and women's empowerment) and environmental challenges (climate change mitigation and adaptation)
  • Classified as "article 9" according to SFDR.
30M€

Target Size

1M€ - 3M€

Ticket

+ 15

Portfolio Positions

Equity

Descripción

Lorem ipsum dolor sit amet consectetur. Lectus vitae id amet tortor a interdum aliquet. At turpis dui vitae integer duis ridiculus at.

Vehicles

Lorem ipsum dolor sit amet consectetur. Lectus vitae id amet tortor a interdum aliquet. At turpis dui vitae integer duis ridiculus at.

IB SUSTAINABLE AGRIFOOD FUND I Innvierte, f.c.r. / ib sustainable agrifood, s.c.r., s.a.
Description
  • Spanish private equity investment vehicles (Fondo de Capital Riesgo, FCR, and Sociedad de Capital Riesgo, SCR) that invest in SMEs in the agri-food sector, with the aim of accelerating their sustainable growth.
  • Invests in three verticals: agricultural production, agri-food processing and auxiliary industry, and addresses three key impact issues: climate and environment, the competitiveness of SMEs and social impact in Spain.
  • Acquires equity in companies through majority and minority stakes, using flexible capital solutions adapted to the needs of companies and their partners.
  • Has an institutional and private investor base composed of institutions and families with extensive expertise in the sector, which facilitates knowledge exchange, alignment of vision and the sustainable growth of invested companies.
  • Investment in each project between €5 and €20 million.
  • Target size of €150 million.
  • Investment and harvesting periods of five years, with the latter extendable by two additional one-year periods.
  • Classified as "article 9" according to SFDR.
150M€

Target size

5M€ - 20M€

Ticket

1M€-8M€

EBITDA

Equity

Hablemos
Descripción

Lorem ipsum dolor sit amet consectetur. Lectus vitae id amet tortor a interdum aliquet. At turpis dui vitae integer duis ridiculus at.

Vehicles

Lorem ipsum dolor sit amet consectetur. Lectus vitae id amet tortor a interdum aliquet. At turpis dui vitae integer duis ridiculus at.

Global Private Equity Selection
Description
  • Closed-end private debt fund for impact-focused SMEs in Spain and Portugal.
  • Focus on capital preservation.
  • Addresses both social challenges, (rural developmentin depopulated areas of Spain, decent work creation, inclusion of vulnerable groups, women's empowerment, access to basic services such as education, health, energy, financial inclusion), and environmental, particularly, circular economy, sustainable agriculture projects, decarbonization, energy transitionand efficiency.
  • Classified as "article 9" according to SFDR.
  • Maximum size of €150 million.
150M

Maximum Size

90 - 120

Underlying companies

5M€ - 100M€

EBITDA

Tikehau Cybersecurite Private Equity II
Description
  • Spanish private equity investment vehicles (Fondo de Capital Riesgo, FCR) whose asset management is delegated in Tikehau Capital.
  • Invests following the strategy of investment fund Brienne IV, managed by Tikehau Capital, which targets unlisted companies in the cybersecurity industry located across Europe (including innovative startups) through the consolidated operations of companies with proven technologies and business models.
  • Duration of ten years, (extendable in two successive periods of one year each), subject to the extension of the Brienne IV strategy.
400M€

Target size

10M€ - 50M€

Ticket

5M€ - 40M€

Revenue

Tikehau Ciberseguridad Private Equity II

Hablemos
Vehicles

Lorem ipsum dolor sit amet consectetur. Lectus vitae id amet tortor a interdum aliquet. At turpis dui vitae integer duis ridiculus at.

IB DEUDA IMPACTO ESPAÑA F.E.S.E
Description
  • Closed-end private debt fund for impact-focused SMEs in Spain and Portugal.
  • Focus on capital preservation.
  • Addresses both social challenges, (rural developmentin depopulated areas of Spain, decent work creation, inclusion of vulnerable groups, women's empowerment, access to basic services such as education, health, energy, financial inclusion), and environmental, particularly, circular economy, sustainable agriculture projects, decarbonization, energy transitionand efficiency.
  • Classified as "article 9" according to SFDR.
  • Maximum size of €150 million.
150M

Maximum Size

5M-10M

Rango

+1M

EBITDA

IB IMPACT DEBT, F.I.L.
Descripción
  • Fondo abierto global de deuda privada a corto plazo, con liquidez trimestral y valoración mensual.
  • Estrategia con gran énfasis en preservación de capital.
  • Track record desde septiembre 2019.
  • Invierte en fondos de impacto con cinco temáticas principales: acceso a servicios básicos, cambio climático, empleo digno, inclusión financiera y empoderamiento de la mujer.
  • Alta diversificación con inversión en más de 75 países y financiación a miles de empresas y millones de microemprendedores.
  • Clasificado como "artículo 9" según SFDR.
150M

Tamaño objetivo

5M-10M

Ticket

+1M

EBITDA

Otras estrategias

Global private equity selection, F.C.R. / Global private equity Strategies, S.C.R., S.A.
Impulsamos este fondo como instrumento ideal para ayudar a las mejores empresas sociales a escalar su impacto.”

Cristina González Viu

Directora General de Microbank
ODS:
ODS 1
ODS 2
ODS 3
ODS 4
ODS 5
ODS 1
ODS 2
ODS 3
ODS 4
ODS 7
ODS 8
ODS 12
ODS 13
ODS 15
ODS 5
ODS 7
ODS 8
ODS 12
ODS 13
ODS 15
Descripción:
  • Fondo de Capital Riesgo (FCR) y Sociedad de Capital Riesgo (SCR) paralela que tienen como objetivo invertir en otros fondos de capital riesgo y en coinversiones.
  • Ofrece exposición a cuatro o más estrategias de capital privado centradas en el "middle market'' con sesgo geográfico hacia EEUU: los fondos subyacentes tienen estrategias de "buyouts", coinversiones, secundarios "GP-Led single assets" y transición energética.
  • Foco en la creación de valor a través de las mejoras operativas de las compañías en las que invierte.
  • Fondo con tres años de inversión (extensible un año) y siete años de recolección, con tres potenciales  extensiones de un año.
  • Retorno objetivo del 18%-20% neto en €.
  • Tamaño objetivo de 200 millones de €.
TIKEHAU pRIVATE EQUITY CIBERSECURITY II, F.C.R.
Impulsamos este fondo como instrumento ideal para ayudar a las mejores empresas sociales a escalar su impacto.”

Cristina González Viu

Directora General de Microbank
ODS:
ODS 1
ODS 2
ODS 3
ODS 4
ODS 5
ODS 1
ODS 2
ODS 3
ODS 4
ODS 7
ODS 8
ODS 12
ODS 13
ODS 15
ODS 5
ODS 7
ODS 8
ODS 12
ODS 13
ODS 15
Descripción:
  • Fondo de Capital Riesgo (FCR) cuya gestora delegada es Tikehau Capital.
  • Invierte en la estrategia "Brienne IV" compuesta por compañías no cotizadas centradas en la ciberseguridad a nivel paneuropeo, incluidas startups innovadoras y operaciones de consolidación de empresas con tecnologías y modelos de negocio probados.
  • Fondo con diez años de duración, ampliable en 2 periodos sucesivos de un año cada uno, sujeta a la extensión de la estrategia Brienne IV gestionada por Tikehau Capital, según su documentación legal.
  • Tamaño objetivo agregado de la estrategia de 600 millones €.

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, F.I.L.
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 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, F.E.S.E.
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.
  • 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).
IB Impact
Direct Debt, F.I.L.
Impact and commitment to positive social change are at the core of Impact Bridge and it is a privilege to serve on their advisory board."

Louisa Brassey

Chair of the Lucille Foundation.
ODS:
ODS 1
ODS 2
ODS 3
ODS 4
ODS 5
ODS 6
ODS 8
ODS 10
ODS 1
ODS 2
ODS 3
ODS 4
ODS 6
ODS 5
ODS 7
ODS 8
ODS 12
ODS 13
ODS 15
ODS 10
ODS 12
ODS 13
ODS 15
Description:
  • Global Open Private Debt Fund with Semiannual Liquidity and Monthly Valuation.
  • Invests in debt assets of companies addressing both social challenges, such as access to basic services, fair job creation, financial inclusion, and women's empowerment, as well as environmental challenges.
  • Classified as "Article 9" according to SFDR.
    The FIL aims for sustainable investments linked to the UN's SDGs, which seek economic growth, poverty eradication, and the fight against climate change, by financing microfinance entities, renewable energy companies, foundations developing sustainable projects, and more.
IB SUSTAINABLE AGRIFOOD FUND I INNVIERTE, F.C.R. / IB SUSTAINABLE
AGRIFOOD, S.C.R., S.A.

Carlos de Abajo

Co-Head AgriFood Fund

Fernando Sanz-Pastor

Co-Head AgriFood Fund
ODS:
ODS 1
ODS 2
ODS 3
ODS 8
ODS 10
ODS 1
ODS 2
ODS 3
ODS 6
ODS 8
ODS 12
ODS 13
ODS 12
ODS 13
ODS 15
Description:
  • Fondo de Capital Riesgo (FCR) y Sociedad de Capital Riesgo (SCR) paralela que invierten en PYMEs del sector agroalimentario, con el objetivo de acelerar su crecimiento sostenible.
  • La estrategia persigue tener un papel proactivo como socio, a través de participaciones mayoritarias y minoritarias, ofreciendo soluciones de capital flexibles adaptadas a las necesidades de las compañías y sus socios.
  • El vehículo invierte en tres verticales: producción agrícola, transformación agroalimentaria e industria auxiliar, y aborda tres temáticas de impacto clave: el clima y medioambiente, la competitividad de las pymes y el impacto social en España.
  • La inversión en cada proyecto se encuentra entre 5 y 20 millones de €.
  • Tamaño objetivo de 150 millones de €.
  • Duración de 10 años.
  • Retorno bruto objetivo del 20%.
  • Clasificado como "artículo 9" según SFDR.
    IB SUSTAINABLE AGRIFOOD FUND: This Fund has as objective sustainable investments (article 9 of SFDR) which will be aligned with the SDGs (Sustainable Development Goals).

Other strategies

Global private equity selection, F.C.R. / Global private equity strategies, s.c.r., s.a.
Impulsamos este fondo como instrumento ideal para ayudar a las mejores empresas sociales a escalar su impacto.”

Cristina González Viu

Directora General de Microbank
ODS:
ODS 1
ODS 2
ODS 3
ODS 4
ODS 5
ODS 1
ODS 2
ODS 3
ODS 4
ODS 7
ODS 8
ODS 12
ODS 13
ODS 15
ODS 5
ODS 7
ODS 8
ODS 12
ODS 13
ODS 15
Description:
  • Private equity vehicles aimed at investing in other venture capital entities or similar vehicles.
  • Exposure to Morgan Stanley IM's management expertise in the Middle Market, focusing on value creation through operational improvements.
  • Duration of 10 years, extendable for up to 3 successive periods of 1 year each.
  • Target return of 18%-20%.
  • Target size of €200 million.
TIKEHAU CIBERSEGURIDAD PRIVATE EQUITY 11, FCR
Impulsamos este fondo como instrumento ideal para ayudar a las mejores empresas sociales a escalar su impacto.”

Cristina González Viu

Directora General de Microbank
ODS:
ODS 1
ODS 2
ODS 3
ODS 4
ODS 5
ODS 1
ODS 2
ODS 3
ODS 4
ODS 7
ODS 8
ODS 12
ODS 13
ODS 15
ODS 5
ODS 7
ODS 8
ODS 12
ODS 13
ODS 15
Descripción:
  • Fondo de Capital Riesgo (FCR) cuya gestora delegada es Tikehau Capital.
  • Invierte en la estrategia "Brienne IV" compuesta por compañías no cotizadas centradas en la ciberseguridad a nivel paneuropeo, incluidas startups innovadoras y operaciones de consolidación de empresas con tecnologías y modelos de negocio probados.
  • Fondo con diez años de duración, ampliable en 2 periodos sucesivos de un año cada uno, sujeta a la extensión de la estrategia Brienne IV gestionada por Tikehau Capital, según su documentación legal.
  • Tamaño objetivo agregado de la estrategia de 600 millones €.

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.
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.

MAIN ADVERSE INCIDENTS

Principal Adverse Impacts are understood as those impacts of investmentdecisions that may have negative effects on sustainability factors.
Impact Bridge Asset Management SGIIC, S.A. ("Impact Bridge") manages thePrincipal Adverse Impacts on its funds, including in its investment process aseries of measures that are based on three important pillars:
  • The incorporation of Environmental, Social and Governance (ESG)factors into the investment analysis and decision-making process inaddition to traditional financial criteria.
  • In the case of investments in other investment funds, the ManagementCompany is involved in the long-term relationship with the companies inwhich it invests, participating in corporate governance decisions throughproxy voting.
  • The open dialogue with all the entities invested in the Fund, in relation totheir own Environmental, Social or Corporate Governance factors, whichis known as "engagement".
Contexto
The first measure to reduce PAIs is the monitoring of the International FinanceCorporation (IFC) exclusion list 1 . In other words, Impact Bridge does not financeprojects with the following characteristics:
  • The production or trade of any product or activity considered illegal underthe laws or regulations of the host country or international conventionsand agreements, or subject to international prohibitions, such aspharmaceuticals, pesticides/herbicides, ozone-depleting substances,PCBs, wildlife, or CITES-regulated products.
  • Production or trade in arms and ammunition.
  • Production or trade in alcoholic beverages (excluding beer and wine).
  • Tobacco production or trade.
  • Gambling, casinos, and equivalent companies.
  • Production or trade of radioactive materials. This does not apply to thepurchase of medical equipment, quality control (measurement)equipment, and any equipment where the radioactive source isconsidered trivial and/or adequately shielded by IFC.
  • Driftnet fishing in the marine environment with nets over 2.5 km in length
  • Production or trade of non-bonded asbestos fibres. This does not applyto the purchase and use of bonded asbestos-cement laminates wherethe asbestos content is less than 20%.
In addition to the IFC´s list of exclusions, we apply the following exclusions:
  • Production or activities involving harmful or exploitative forms of forcedlabour or child labour.
  • Commercial logging operations for use in tropical humid primary forests.
  • Production or trade of timber or other forest products that do not originatefrom sustainably managed forests.
In 2020, Impact Bridge adhered to the Principles for Responsible Investment(PRI) 2 , an initiative of the investment community promoted by the UnitedNations whose ultimate objective is to contribute to the development of a morestable and sustainable financial system, thanks to the implementation of the sixprinciples defined:
These principles are an important part of our investment model.
  • Principle 1: Incorporate ESG issues into investment research anddecision-making processes.
  • Principle 2: We are active investors and will incorporate ESG issues intoour ownership practices and policies.
  • Principle 3: We seek appropriate disclosure of ESG matters by theentities in which we invest.
  • Principle 4: We promote the acceptance and implementation of thePrinciples in the investment sector.
  • Principle 5: We work collaboratively to increase our effectiveness inimplementing the Principles.
  • Principle 6: We report on our activities and progress with respect to theimplementation of the Principles.
Through its vehicles, Impact Bridge undertakes to carry out its activity in strictcompliance with applicable regulations and in accordance with the highestethical standards and professional conduct, including:
  • The UN Global Compact and the Principles for Responsible Investment(as outlined above).
  • The United Nations Guiding Principles on Business and Human Rights.
  • The United Nations Sustainable Development Goals (SDGs).
Finally, Impact Bridge is a signatory to the Operating Principles for ImpactManagement (OPIM):
  • Principle 1: Define strategic impact objectives, consistent with theinvestment strategy.
  • Principle 2: Manage strategic impact based on portfolio.
  • Principle 3: Establish the manager´s contribution to achieving impact.
  • Principle 4: Assess the expected impact of each investment, based on asystematic approach.
  • Principle 5: Assess, address, monitor and manage the potential negativeimpacts of each investment.
  • Principle 6: Monitor the progress of each investment in achieving impactagainst expectations and respond appropriately.
  • Principle 7: Perform the outputs taking into account the effect on thesustained impact.
  • Principle 8: Review, document and improve decisions and processesbased on the achievement of impact and lessons learned.
  • Principle 9: Publicly disclose alignment with the Principles and provideregular independent verification of alignment.
Object
Impact Bridge is committed to transparency and the transmission of informationon the procedures, results and plans relating to the due diligence proceduresimplemented for the development of its asset management activity. Article 4 ofthe Regulation (2019/2088 on sustainability-related disclosures in the financialservices sector (hereinafter, the "Sustainable Finance Disclosure Regulation")establishes the obligation to report on due diligence policies in relation to suchadverse events, which is complied through this Statement.
The Due Diligence Process
The OECD Due Diligence Guidance for Responsible Business Conductrecommends that companies conduct risk-based due diligence to avoid andaddress these negative impacts associated with investment decision-making inasset management.
Impact Bridge has risk-based due diligence processes in place to identify,prevent, mitigate, and explain how these negative impacts are addressed. In the area of asset management, Impact Bridge has the opportunity not only to avoidadverse events but also to facilitate change through its dialogue and activevoting policies, where applicable. Therefore, the existing due diligence in theirbusiness conduct is also strengthened in the area of investment decisionsthrough specific due diligence measures.
Due diligence helps to anticipate, prevent or mitigate adverse events. In somecases, due diligence can help decide whether or not to continue activities orinvestments as a last resort, either because the risk of a negative impact is toohigh, or because mitigation efforts have not been successful.
Considering that due diligence must be proportionate to the risk and appropriateto the circumstances and context of a particular company, the followingprinciples are followed in Impact Bridge's investment decision-making process:
  • Identify the main actual or potential negative impacts
  • Take steps to stop, prevent, or mitigate these negative impacts
  • Monitor the implementation and results of such measures
  • Report on how major adverse impacts are being addressed
In this regard, the Management Company has implemented a specificprocedure in order to adequately monitor compliance with these principles on arecurring basis. In practice, the due diligence process is continuous, iterative,and not necessarily sequential, as several stages can be developedsimultaneously with results that feedback into each other.
Read less
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
This website only uses its own cookies for technical purposes and does not collect or transfer users' personal data without their knowledge. However, it contains links to third-party websites with privacy policies unrelated to Impact Bridge Asset Management S.G.I.I.C., S.A.'s policies, which you can choose to accept or not when accessing them.