Estudio del ecosistema de inversión de impacto en España (SpainCap (ex-ASCRI))

Summary

• Total impact investment assets under management (AUM) in Spain reached €2,398.6 million at year-end 2021.p.4
• The global impact investment market was estimated at $1,164 billion in assets under management in 2021 according to GIIN.p.4
• Impact venture capital in Spain reached €436 million out of total impact AUM in 2021.p.6
• Ethical and social banking in Spain managed €1,638 million of impact investment capital in 2021.p.6
• Foundations in Spain managed €230 million of capital dedicated to impact investment strategies in 2021.p.6
• 100% of surveyed direct impact fund managers integrate ESG criteria into their investment process.p.10
• 56% of funds managed by surveyed impact managers are classified as Article 9 under the EU SFDR.p.39

Key insights

1. The global impact investing market reached $1,164 billion in assets under management in 2021, representing 1.1% of total assets managed by banks and asset managers worldwide.p.4
2. In Spain, ethical and social banking represents the largest segment of impact investing, managing €1,638 million in 2021.p.6
3. All surveyed impact fund managers (100%) incorporate ESG risk and opportunity analysis alongside impact evaluation.p.10
4. A large majority (82%) of surveyed impact managers link their carried interest directly to achieving specific impact targets.p.10
5. Exactly 50% of direct impact investment managers in Spain operate under European Social Entrepreneurship Funds (FESE) vehicles.p.34
6. 56% of funds managed by the surveyed managers are classified under Article 9 of the EU SFDR.p.39
7. Impact venture capital assets in Spain grew nearly fivefold from €92 million in 2018 to €435.8 million in 2021.p.43