ESG | October 13, 2022

Net Purpose raises £10 million for a fact-base of social and environmental performance

David Bank
ImpactAlpha Editor

David Bank

ImpactAlpha, October 13 — London-based data analytics provider Net Purpose has raised £10 million to help investors measure the performance of their portfolios across climate, water, waste, gender, financial inclusion, healthcare and other social themes.

“Investors are demanding the facts on the social and environmental performance of their funds, just like they do financial return,” said CEO Samantha Duncan. The company says its “independent fact-base” allows investors to go beyond self-reported data and ESG rankings to understand actual performance. 

Data driven

The Series A financing was led by Environmental Technologies Fund alongside M-Tech Capital and Exceptional Ventures. Existing investors include Jim O’Neill, ex-of Goldman Sachs Asset Management, IHS Market’s Kevin Gould, the Louis family, Illuminate Financial, and Revent.

“To make this moment matter, we must have a way to quantify purpose,” O’Neill said. “We must establish a global source of facts that investors can trust and understand.”