Theme
Investment

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"This note provides a popular overview of why and how GIF forecasts and measures impact. GIF’s unique Practical Impact methodology is central to the way GIF pursues its mission. We hope this introduction to Practical Impact will help donors, investees, and the public to better understand how we work. We hope also that other development financiers and impact investors may be interested in learning how GIF has addressed the challenge of investing for impact in innovations."

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"Most impact investors see their primary goal as finding and investing in enterprises that yield strong financial and social returns-a goal we share and support. But we worry this singular focus may miss the forest for the trees. In this discussion paper, we argue for a shift in focus-toward the goal of scaling entire industry sectors, in addition to individual firms."

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"The Guide was developed by CDC and IFC with support from the Government of Canada. It is a practical "how to" step by step guide for fund managers on how to strengthen gender diversity within their own firms and incorporate a gender focus into investment operations. It combines learnings from CDC and IFC's experience with over 160 Fund Managers and draws on best practices with a series of case studies from stakeholders across the industry."

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"In search for new models to provide risk capital, mezzanine finance blends elements from traditional Private Equity (PE) and debt financing into a unique product. Its an additional offering in the SME finance ecosystem for missing middle entrepreneurs.

As a relatively young and rather complex segment in the impact investing space, this commissioned study provides an understanding of the specificities, diversity (and complexities) of Mezzanine Financing, critical to spurring innovative thinking on both the fund manager- and investor-sides, so products may be improved and models may be more scalable.

This study is the first of its kind and represents a first step into building small cap SME mezzanine finance as an asset class on its own."

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"The landscape for entrepreneurial finance has changed strongly over the last years. Many new players have entered the arena. This editorial introduces and describes the new players and compares them along the four dimensions: debt or equity, investment goal, investment approach, and investment target. Following this, we discuss the factors explaining the emergence of the new players and group them into supply- and demand-side factors. The editorial gives researchers and practitioners orientation about recent developments in entrepreneurial finance and provides avenues for relevant and fruitful further research."

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"While business accelerators remain understudied in the academic literature, there is growing interest in understanding how accelerators work and where they provide value to entrepreneurs. In this paper, we focus exactly on this question – we examine how mentorship and investor ties, two key aspects observed across accelerators in general lead to positive accelerator outcomes and through them, to longterm firm success outcomes for the start-ups participating in accelerators. Using the full cohort (n=105) of an international accelerator, we follow the progress of the startups during the accelerated period and continue to follow these startups for 15 months. We find that startups that participate more in mentorship events have higher likelihood of achieving short-term outcomes during the accelerator, such as the release of a prototype and generating revenue for the first time. Similarly, startups that develop more investor ties during the accelerator survive and raise capital at a higher rate. Finally, we find evidence that certain short-term accelerator outcomes also increase the chances of survival and investment. On the basis of these results, we provide practical implications for start-ups as well as managers of accelerator programs, in addition to theoretical contributions to entrepreneurship research."

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"NTF4Ag: Emerging Lessons and New Frontiers brings together key results, insights from the case studies, pilots and crosscutting research conducted by MEDA and its partners over the last three years. The report is framed around INNOVATE's four learning themes, which emerged in an iterative manner from the research portfolio along with engagement with key stakeholders through events, conferences, and ongoing dialogue.

This report is aimed at a diverse set of actors in the smallholder finance landscape including the private sector, research organizations, implementing agencies, funders, and policymakers."

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"This discussion paper builds on the results of the Conference Financing Global Development - Leveraging Impact Investing for the SDGs hosted by the German Federal Ministry for Economic Cooperation and Development (BMZ) in Berlin on 21st November 2017.

This paper shares the findings of the session. It aims to foster a conversation around impact measurement and management 2.0 and actively integrating impact incentivization in investment processes. The discussion focussed on how to incentivize the impact investing chain - those who provide capital, those who manage it, and those who receive it - to channel their efforts towards high impact SGBs and to provide adequate support for scaling impact."

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"Investments designed specifically to promote development are not new, but their application across a broad range of sectors-from moderate-income housing, to health care, water and sanitation, and rural development-is recent. And they raise several critical questions for development policy. Are they an effective new tool for long-term development? Are they likely to reach the scale necessary to be part of an overall development strategy?

This report offers an important survey and analysis of the field. Impact investing has the potential to spur development in regions and sectors that traditional foreign direct investment does not target, but it faces many challenges, notably market fragmentation and a lack of infrastructure. The authors, former executive vice president of the Overseas Private Investment Corporation and former CGD visiting fellow, John Simon, and Julia Barmeier suggest concrete steps that will help the market mature and grow, with separate and specific recommendations for practitioners, development finance institutions, and regulators."

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"Community Development Financial Institutions (CDFIs) are uniquely positioned to address the troubling trend of rising wealth and income inequality in the United States by focusing on the creation of higher quality jobs. To move toward a reality where quality jobs are the standard- not the exception-CDFIs must build consensus around a common definition of a quality job, undertake practical efforts to foster the creation of quality jobs, and measure results to understand what works.

This discussion paper seeks to answer two important questions at the center of Community Development Financial Institutions' (CDFIs) efforts to create quality jobs: what is a quality job, and how can CDFIs measure job quality?"

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