The Impact Finance Research Consortium (IFRC) is a collaboration among the Wharton School, Harvard Business School, and the University of Chicago Booth School of Business to advance academic research on impact investing.
Together, we are building the Impact Finance Database (IFD), the world’s most comprehensive database on impact investing. Begun in 2014 at the Wharton School, the IFD now houses data on more than 100 of the world’s impact investing funds.
Our mission is to improve both knowledge and practice in impact investing. To fulfill the promise of impact investing, we need rigorous and independent research on the topic that meets the standards of peer-reviewed academic scholarship— research that holds up to scrutiny and offers real insights for investors, fund managers, and enterprises.
That’s why we are gathering detailed, confidential data on the management, impact goals, financial performance, and legal governance of impact investing funds around the world. In 2022, we will begin making our anonymized data available to qualified academic researchers around the world.
Words From Our Leaders
“To fulfill the promise of impact investing, we need hard data, independent analysis, and evidence-based insights. That’s the promise of IFD and the power of this collaboration.”
-Dr. Katherine Klein, Edward H. Bowman Professor at the Wharton School and WSII Vice Dean
“The theory and practice of financial economics have been advanced greatly via careful analysis of data. The goal of this project is to create a resource available to researchers to build a body of evidence on how investing changes when an impact dimension is introduced alongside the traditional considerations of risk and return. In short, to improve the theory and practice of finance.”
-Dr. Shawn Cole, John G. McLean Professor of Business Administration and Faculty Lead of The Social Impact Collaboratory at Harvard Business School
“The field of impact investing is developing, and the accelerating growth of impact funds makes now the perfect time to collect data on the industry. This partnership has the potential to provide access to fund-level goals and other quantitative metrics. And with access to more data, we hope, will come new evidence-based practices to guide the future of impact investing.”