Impact Deep Dive: Key Insights from Astanor Ventures (ft. Leslie Kapin from Astanor Ventures)

Climate Insiders

In today's show, I'm joined by Leslie Kapin, Director of Impact at Astanor Ventures, one of Europe's largest Impact funds.

Whether you work for a climate or impact fund, are looking to start one, or are simply curious about what's happening in the impact world behind the scenes, you'll love this value-packed conversation.

We cover:

- The impact journey of Astanor: how they started from scratch five years ago and now publish one of the most useful impact reports in the industry.

- How to measure impact, when to do it, and who should be involved in an impact team. How can venture capitalists support founders in their own impact journey?

- When and how to conduct a Life Cycle Assessment (LCA).

- Why would a fund choose to become a B Corp?

- And what can we do as a collective space to collaborate more, reduce overlaps, and speed up the process for everyone.

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ABOUT THE GUEST:

Leslie joined Astanor in 2019 and is responsible for monitoring sustainability and impact at Astanor. She brings more than 13 years’ experience in global asset management within both the private and public sector.

After 9 years with global asset manager Russell Investments as a research analyst and portfolio manager for the Asian equity markets in London, Paris and Sydney, Leslie joined the Bank for International Settlements (BIS) in Basel where she was responsible for the selection of all the investments for the BIS’s Pension Fund for three years.

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SHOW NOTES:

00:00 – Intro

01:02 – Who is Leslie Kapin?

01:27 – What is Astanor Ventures?

02:50 - From Vision to Impact: Navigating Sustainability

07:18 – Examples of enabler companies

08:23 – Should impact funds venture into software territory?

09:37 - How do the dynamics between hardware and software industries influence the pursuit of pure, direct impact?

10:23 - Was the path to milestones clear in hindsight, or did it unfold gradually, step by step?

13:15 - Collaborative Evolution in Impact Standards

16:389 - What does B Corp certification mean in financial terms? Is it primarily a marketing strategy, or does it entail binding commitments?

18:11 - Balancing Priorities for Early-Stage Founders: Impact, Growth, and Certification

20:57 - Unlocking the Treasure Trove: Notion Page and the Potential for Open Source

21:38 - Fostering Collaboration: The Call to Share and Support

23:49 - What is a necessity in the climate tech space?

25:32 – How many people are dedicated to impact measurement?

26:46 - Should there be a mental threshold or a numerical benchmark for funds considering commitment to article 9?

28:07 - Is the norm to conduct LCAs before the investment, or is there a strategy that involves assessment during divestment?

31:30 - Summing Up the LCA Process: Internal Guidance and External Expertise

34:12 - Impact Creation Report: Unpacking Astanor's Transparency and Inspiring Replication

37:11 - What is the next evolution in impact measurement at the fund level?

39:10 - Embarking on the Impact Journey: Guidance for New Entrants

40:29 – WhatsApp groups and communities – directions how to find them

41:29 - Navigating the Imposter Syndrome: A Candid Perspective

42:19 – Outro

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ABOUT THE HOST:

https://www.linkedin.com/in/yberno/

Yoann Berno is committed to the democratization of climate tech investing, with a goal to contribute significantly to the fight against global warming. Passionate about empowering individuals striving to make a difference in addressing climate change, he is renowned as the podcast host of Climate Insiders. In this role, he dedicates himself to showcasing the perspectives of trailblazers in environmental sustainability.

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Mentioned in the podcast:

Leslie Kapin - https://www.linkedin.com/in/leslie-kapin-45931516/

Astanor Ventures - https://astanor.com/

Impact Creation Report - https://astanor.com/impact/

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