The first year of a new strategy
is always the most challenging – yet also the most exciting. As we reflect on 2024, we assess what worked well and what could be improved. We defined 6 ways.
(1)
Executive summary
(2)
Foreword
(3)
Our Impact-First Strategy
(4)
Organisational Impact
(5)
Capital Impact
(6)
Investor Impact
(7)
Rethinking philanthropy
(8)
An explorer vision: Reframing impact
(9)
Continuous Improvements
(10)
Acknowledgements
Executive summary
Foreword
Our Impact-First Strategy
Organisational Impact
Capital Impact
Rethinking philanthropy
An explorer vision: Reframing impact
Continuous Improvements
Acknowledgements
How can we improve our impact strategy?
Continuous Improvements
Chapter select
1. Explore systems thinking
We aim to contribute to solutions for complex societal and planetary challenges. Our philanthropic strategy already supports initiatives that take a systemic approach, ranging from advocacy that addresses root causes to accelerators that pave the way for more sustainable systems.
However, these systemic levers are still relatively scarce across our investment portfolio. Most investable opportunities centre on specific products or technologies, rather than driving broader structural change. We are therefore exploring ‘systems thinking’ more actively to better understand how our investments can contribute to long-term, systemic transformation.
2. Identify the synergies
Our six solutions help sharpen our focus, but the challenges we address – biodiversity, climate and social equality – are deeply intertwined.
Currently, our methodology considers each theme separately, without fully capturing their interconnections or mutual influence.
Taking a more holistic view across the portfolio could help us identify synergies, anticipate trade-offs, and strengthen the strategic coherence of our efforts.
3. Use impact data for learning
We’ve made progress in impact measurement, including introducing 11 predefined KPIs aligned with our six solutions. These metrics bring clarity and structure, helping us make impact performance more tangible.
However, impact is often complex and context-specific, and not all positive outcomes can be captured in these indicators. We also acknowledge that measurement should not only be used to prove impact, but to improve it. We are working to better use impact data as a learning tool, supporting adaptive strategies and stronger investment decisions over time.
4. Strenghten our engagement
We actively engage with our portfolio companies through board participation and advisory support, by co-creating impact roadmaps and via dedicated impact conversations as part of our annual impact assessment cycle. With a diverse portfolio and a team rich in expertise, tools, and networks, we see an opportunity to approach engagement more intentionally.
A structured, portfolio-wide capacity-building strategy could help us share this knowledge, enable peer exchange, and amplify these insights across investments. It would allow us to better integrate experiences and innovations from our portfolio – strengthening both our strategic perspective and our ability to catalyse change across the portfolio as a whole.
5. Expand our financial toolbox
Our strategy currently centres on private equity (including ventures), real estate, and listed equity. Yet in some contexts, other financial instruments and tools – such as debt, real assets, and blended finance may be more suitable. These could help us support nature-based solutions, share risk with public or philanthropic partners, or finance infrastructure that doesn’t fit typical equity profiles. Expanding our financial toolbox would allow for a more flexible and responsive approach to impact.
6. Mobilise external capital
We regularly share our experience to inspire and inform other family offices about impact investing. While this helps raise awareness, we currently offer few practical tools or opportunities for others to act – such as co-investment options or accessible resources.
If we want to help shift more capital toward impact, we need to develop more concrete offerings. At the same time, we are not yet able to track the outcomes of these efforts, making it difficult to assess how much additional capital is being mobilised as a result of our outreach.
We view these challenges as opportunities to reflect, evolve, and grow. As the field of impact investing continues to mature, we remain committed to embracing systems thinking, using impact data to learn and adapt, and expanding our toolbox where possible. Our strategy is designed to evolve with insights and experience, and we remain committed to improving – step by step, and in close dialogue with our partners and peers.
