Fund of Funds

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Impact Capital Managers

A membership association of leading private capital fund managers seeking superior returns and meaningful impact. | Impact Capital Managers (ICM) is a...

Impact Capital Managers

A membership association of leading private capital fund managers seeking superior returns and meaningful impact. | Impact Capital Managers (ICM) is a membership association of 150+ leading private capital fund managers seeking superior returns and meaningful impact across North America and beyond. Our mission is to advance the performance of our members and to grow the marketplace with integrity and authenticity. Our community is invitation only; members must meet certain criteria including adherence to our standards on impact management and measurement.

General information

Firm type

Fund of Funds

Location

Region

North America

Country

United States

City

New York

Corporate office

New York, NY, United States

Sector focus

ClimateTechDigital HealthEducationFinancial InclusionSustainable Agriculture

Frequently asked questions

Does Impact Capital Managers deploy its own capital?

No. Impact Capital Managers is a membership association, not an investment fund or allocator. It facilitates co-investment, networking, and best-practice sharing among its member funds but does not make direct investments, fund commitments, or manage a balance sheet for deployment.

What criteria does a fund need to meet to join ICM?

Member funds must be private capital vehicles—venture capital, growth equity, or private equity—that intentionally pursue market-rate financial returns alongside measurable social or environmental impact. ICM requires members to demonstrate a clear impact thesis and a commitment to impact measurement and management practices, differentiating the network from generalist funds that may hold a few impact-adjacent positions.

How does ICM facilitate co-investment among its members?

ICM runs a curated deal-sharing infrastructure that allows member GPs to circulate investment opportunities, syndicate rounds, and share diligence resources. This is not a public marketplace—participation is limited to vetted member funds, which helps preserve competitive dynamics while lowering the friction of co-investment on impact-oriented deals.

Is Impact Capital Managers a fund-of-funds or an LP?

Neither. Institutional LPs sometimes consult ICM’s member directory and research when building impact investing allocations, but ICM does not pool capital, charge management fees, or make fund investment decisions. It is a trade association representing the GP side of the impact market.

What is ICM’s geographic and sector scope?

ICM focuses on North America-based private capital funds, though many members invest globally. Sector coverage among members includes climate technology, digital health, education, financial inclusion, and sustainable agriculture, spanning early-stage venture through growth and buyout strategies.

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