Impact investment is on the rise. A host of factors centred around the need to address global environmental and social issues such as climate change, biodiversity decline and demographic changes, as well as an increased focus on ESG more generally, is resulting in a higher demand for investment in mission-led companies focused on people and planet, as well as profit.
In 2023, the BVCA introduced the ‘Excellence in Impact’ awards to celebrate our members’ commitment to making an environmental and social impact, alongside making financial returns. This aims to showcase best practice in impact investing, alongside the environmental and social solutions our members are facilitating through their portfolio companies. This is now an ongoing part of the annual BVCA Summit.
Submission Guidance
The judges will be looking for intention of creating and evidence of achieving positive environmental and/or social impact alongside financial return. Submissions should be able to demonstrate good impact practices for measuring, managing, and reporting impact, with a focus on continuous improvement. The judges recommend you give details of the development or engagement which has taken place, covering how and why your firm has acted, and what the outcome has been. The judges will be looking for a clear explanation of the rationale, commitment to impact, linkage to investment strategy, and why the outcome has been positive. Please provide clear examples to evidence your submission.
The submission should be 500-750 words and can be made via our online entry form. Your submission may be accompanied by supporting documents, if referred to in the submission. Due to the volume of submissions, the judges only have the capacity to read 3 additional pages of material, so please keep your supporting documents concise. Any attachments that exceed 3 pages total will not be considered.
Please note, due to the high volume of submissions, we will not be able to provide individual feedback.
Entries opened on 5 April 2024 and closed on 7 June 2024. An independent judging panel will score the submissions and present the awards at the BVCA annual flagship Summit conference on 12 September 2024.
Criteria for GP Category
The judges will be looking for progress made by GPs in impact integration and engagement in 2023.
This could include one (or more) of the following:
- Clear articulation of your impact goals and objectives, and how this is incorporated into your firm and your strategy, including policies and/or reporting, due diligence practices, and value creation plans.
- How the firm has enhanced and developed its overall impact measurement framework, either the first-time adoption of a framework or further development an existing framework.
- Engagement across your portfolio on measuring impact and improving performance of portfolio companies on environmental and/or social impact metrics. Include examples of how your specific involvement/active ownership of portfolio companies made decisive contributions to creating this impact.
- How the firm has worked with LPs to integrate impact within reporting.
- If relevant, give evidence of how you are engaging in systemic change in relation to impact within the private capital industry.
Criteria for LP Category
The judges will be looking for progress made in impact integration and engagement by LPs in 2023.
This should include the following:
- Clear articulation of your impact goals and objectives, and how this is incorporated into your fund selection and due diligence.
- How the firm has enhanced and developed its overall impact framework to reflect social and/or environmental impact during the year, either the first-time adoption of a framework, or the refreshing of an existing framework.
- How the firm has engaged with GPs to manage and measure impact.
- Specific engagement by the LP with one or more managers to address any impact-related risks or opportunities.
- If relevant, give evidence of how you are engaging in systemic change in relation to impact within the private capital industry.
Criteria for Portfolio Company – Environmental & Social
This category seeks to recognise portfolio companies that have demonstrated good practice in creating a positive environmental and/or social impact in their day-to-day business and have been supported by their investors to do so. This category is to open to any portfolio company with a UK presence which is currently backed by a BVCA member (or exited in 2023).
Submissions should include the following:
- The core mission of the portfolio company, and how this is contributing to solving a particular environmental or social challenge.
- How positive environmental or social impact is considered within the portfolio company’s day-to-day commercial activities in 2023.
- How the portfolio company is measuring its current impact, and any measures established to improve or grow its impact.
- How the portfolio company sees impact as driving commercial value to shareholders.
- How the portfolio company uses an impact management framework over the course of the GP’s investment.
Judges
2024's Excellence in Impact judging panel is comprised of:
- Sarah Teacher, Executive Director, Impact Investing Institute
- Jonny Page, Head of Social and Impact Investment, Esmée Fairbairn Foundation
- Douglas Sloan, Managing Director of Impact Venture, Better Society Capital
- Lindsay Smart, Head of Sustainability, Triple Point
All Recognised Companies
2024
We were delighted to celebrate our members’ commitment to making an environmental and social impact alongside making financial returns. These awards aim aim to showcase best practices in impact investing alongside the environmental and social solutions our members are facilitating through their portfolio companies. The firms recognised were selected by an independent judging panel and presented at the BVCA Summit on 12 September 2024.
Top Recognitions:
- GPs (all sizes)
Big Issue Invest - Portfolio company (backed by a BVCA member)
Explore Learning
Special Recognitions:
- GPs (all sizes)
Circularity Capital - GP (above £1bn AUM)
LeapFrog Investments - Portfolio Company (backed by BVCA member)
60 Decibels
2023
We were delighted to recognise outstanding contributions to impact investment from across private equity and venture capital. The firms recognised were selected by an independent judging panel and presented at the BVCA Summit on 5 October 2023.
Recognised firms:
- GP, specialising in impact investing strategies
Circularity Capital LLP - LP, with an impact investing strategy
Esmée Fairbairn Foundation - Portfolio company – environmental impact
Propelair (nominated by Earth Capital) - Portfolio company – social impact
CAPSLOCK (nominated by Ufi Ventures)
Special recognitions:
- GP, specialising in impact investing strategies
Eka Ventures - Portfolio Company (social impact)
B2W Group (nominated by Palatine)
Meet the 2024 Judges
Sarah Teacher
Sarah Teacher is Executive Director at the Impact Investing Institute, an organisation with a mission to accelerate the growth and improve the effectiveness of impact investing in the UK and internationally. She leads key projects for the organisation on sizing the UK impact investing market, place-based impact investing and encouraging charitable endowments and family offices to allocate for impact.
Jonny Page
Jonny is responsible for Esmée Fairbairn Foundation’s impact investing. Before joining Esmée, Jonny managed impact funds as Investment Director at Big Issue Invest Fund Management and is a Chartered Accountant from Deloitte. Jonny holds several advisory roles, including the Impact Investment Advisory Group at the BVCA, co-chairing the Social Impact Investors Group run by the Association of Charitable Foundations, a Visiting Fellow at Zinc VC, and the Social Enterprise Investment Committee at Trust for London.
Douglas Sloan
Dougie is Managing Director of Impact Venture at Better Society Capital. He leads Better Society Capital’s venture investment programme, seeking to shape an ecosystem that can nurture and scale innovative ways of tackling social problems - by backing venture funds that invest in impactful startups, pushing the boundaries of impact practice in venture, and collaborating with others to amplify their work in the space.
Lindsay Smart
Lindsay is Triple Point’s Head of Sustainability, responsible for ensuring Triple Point continue to innovate and embrace sustainable best practice across the business. Lindsay supports all investment strategies in their ESG integration, and where applicable impact, investment commitments and is also a member of the Groups Executive Committee.
Lindsay has previously led the development of an award-winning sustainability and impact assessment tool, advised companies and investors in the UK and USA on their approach to sustainability integration, in addition to developing internal sustainability strategies and delivering sustainability training and workshops for all levels of professionals.
In 2017, she was named by Brummel Magazine as one of the top 50 influential women in Sustainability. Since 2016, she has acted as an assessor for the Unilever Sustainable Living Young Entrepreneurs Award and was previously a member of the UKSIF analyst committee and judge for the City of London Sustainable Finance Awards.
Lindsay has over 18 years of finance industry experience and has previously worked at ClearlySo, VigeoEiris, Citi, Allianz Global Investors and JPMorgan Asset Management, and has formal training in sustainability from Cambridge University.
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