What SAGANA does

SAGANA is an independent impact investment advisory firm founded in 2017 in Zurich, Switzerland, by Raya Papp and Wolfgang Hafenmayer. The firm advises institutional clients, including foundations, family offices, development finance institutions (DFIs), development agencies, corporates, and fund managers, on designing and executing mission-aligned investment strategies, with particular focus on gender-smart investing, climate and decarbonization, and innovative/blended finance. Its core products span strategic advisory (impact strategy design, portfolio construction, due diligence), technical assistance and capacity building (gender-smart lending frameworks, science-based target setting, GHG inventory work), catalytic capital management (e.g., the Cameroon Cataract Bond outcome-based vehicle), and proprietary research such as the Project Catalyst dataset tracking USD 7.9 billion in gender lens private market AUM.

The firm operates a distributed delivery model with 40+ impact-driven investment advisors across 12+ countries including Switzerland, the UK, France, Italy, Spain, Kenya, Senegal, India, Cambodia, Indonesia, Mexico, and the US. Sagana has executed 60+ direct investments into early- to growth-stage companies, supports 100+ organizations with advisory services, and manages approximately USD 800 million in assets under advisory. Named clients include Fondation Botnar, Verod Capital, The Barlow Foundation, SDC, FMO, responsAbility, Africa50, DFAT, and Cementos Molins.

The business model is a professional services firm with three revenue streams: investment advisory retainers, technical assistance programs (typically funded by DFIs and foundations), and managed services around catalytic capital vehicles. Pricing is not publicly disclosed; engagements are bespoke and relationship-driven. Sagana differentiates through dual finance-and-development expertise, proprietary methodologies (gender diagnostics, carbon footprinting, science-based target frameworks), and a research-driven content marketing approach via its Insights Hub and whitepapers.

Name

SAGANA

Legal name

Sagana GmbH

Website

https://sagana.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

SAGANA is an independent Zurich-based impact investment advisory firm founded in 2017, advising foundations, DFIs, fund managers, corporates, and family offices on gender-smart investing, climate/decarbonization, blended finance, and impact measurement across 12+ countries with 40+ advisors and USD 800M in assets under advisory.

Ownership category

akta.pro rank

Product category

Impact Investment Advisory

NAICS

Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282), Services-Management Consulting Services (8742)

akta.pro primary industry

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

akta.pro secondary industries

Family Wealth & Multi-Generational Planning RIAs (HNW/UHNW-lite) (FSAAACAH), Managed Accounts & Unified Managed Accounts (UMAs) — Multi-Asset (FSAAAJAE)

Keywords

• Impact investing advisory
• Gender lens investing
• Climate strategy consulting
• Portfolio management services
• Catalytic capital structuring

Headquarters

HQ city

Zürich

HQ country

Switzerland

HQ region

Europe

Offices18 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment Advisory Services: Advisory fees for investment strategy design, portfolio management, due diligence, and impact measurement services to foundations, family offices, DFIs, and other institutional clients
2. Catalytic Capital Management: Management of investment vehicles including outcome-based bonds such as the Cameroon Cataract Bond, managing active portfolios of seed to Series A investments
3. Technical Assistance Programs: Gender and climate technical assistance to fund managers, financial institutions, and development agencies, often funded by DFIs and foundations

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

SAGANA is an impact investment advisory firm that provides consulting and advisory services to institutional clients including foundations, fund managers, corporates, development finance institutions, development agencies, and family offices. The firm designs mission-aligned investment strategies, conducts due diligence, manages catalytic capital structures (including outcome-based bonds), and delivers technical assistance in gender lens investing and climate/decarbonization strategies. SAGANA also makes direct investments into early- to growth-stage companies and manages approximately USD 800 million in assets under advisory.

Product overview

SAGANA is an impact investment advisory firm (not a software product company) offering a unified suite of consulting and advisory services centered around their core investment advisory practice. The offerings include Impact Investing Advisory Services, Portfolio Management & Value Creation, Climate & Decarbonization Consulting, Gender-Smart Investing Advisory, Innovative Finance & Blended Capital, Landscape & Insight Reports, Rigorous Due Diligence Services, and Technical Assistance & Capacity Building. These services are delivered by a team of 40+ impact-driven investment advisors to foundations, fund managers, corporates, development finance institutions, development agencies, and wealth holders/family offices across 12+ countries.

Differentiator

Problem solved

Functional benefit

Products and services

• Impact Investing Advisory Services
• Portfolio Management & Value Creation
• Climate & Decarbonization Consulting
• Gender-Smart Investing Advisory
• Innovative Finance & Blended Capital
• Landscape & Insight Reports
• Rigorous Due Diligence Services
• Technical Assistance & Capacity Building

Quantifiable outcome

• Sagana supported Verod in becoming the first 2X Certified PE fund in Africa
• +3 more outcomes

Named customers14 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core, key and supporting.

• responsAbilitycoreStrategic or Co-development PartnerSagana serves as gender advisor for responsAbility's financial inclusion debt facility, enhancing investment processes by identifying gender gaps and opportunities, supporting investees with gender assessments, developing action plans, and training investment officers
• Africa50coreStrategic or Co-development PartnerSagana developed a tailored gender lens investing framework for Africa50 Group that integrates gender analysis into project design, due diligence, and monitoring, identifying risks and opportunities aligned with global standards
• Sasakawa Peace FoundationkeyStrategic or Co-development PartnerCo-authored report on gender lens investment vehicles in public and private markets covering East and Southern Africa, including 33 vehicles to baseline and track market size
• Catalyst At LargekeyStrategic or Co-development PartnerPartnered to co-author gender lens investing landscape report for East and Southeast Asia, providing baseline to track market's size and state over time
• Candi SolarsupportingImplementation/ SI/ Consulting PartnerSagana conducted gender assessments for Candi Solar across South Africa, India, and Zurich, developing tailored Gender Action Plans and supporting implementation
• Caspian DebtsupportingImplementation/ SI/ Consulting PartnerSagana supported Caspian Debt in enhancing gender inclusivity in lending practices, developing gender action plans, promoting diversity through HR practices, and training risk teams on inclusive underwriting
• FMO TA FacilitycoreStrategic or Co-development PartnerThrough FMO, Sagana provided TA on GHG measurement, mitigation planning, and green investment pipeline building for fund managers and investees, resulting in measurable emissions reductions and stronger climate action plans
• Emerging Markets Impact Investment Fund (EMIIF)coreStrategic or Co-development PartnerSagana manages gender lens investing technical assistance for EMIIF's fund-of-funds vehicle, including gender diagnostics, GAPs, and tailored TA for investees to strengthen investment performance and gender outcomes
• 2X GlobalkeyStrategic or Co-development PartnerSagana partnered with 2X Global on Project Catalyst, surveying 126 fund managers to showcase the state of gender lens investing landscape in private markets, collectively managing USD 7.9 billion in gender lens investments
• ChemonicskeyStrategic or Co-development PartnerProduced technical brief 'Unlocking Opportunities for Women Fund Managers' mapping the ecosystem of support to emerging female fund managers, analyzing challenges, opportunities, and levers for capital allocation diversity
• Fred Hollows FoundationcoreStrategic or Co-development PartnerSagana manages the Cameroon Cataract Bond, a pioneering outcomes-based bond funding life-changing cataract surgeries for low-income patients through innovative financing structure

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Open Capital Advisors: Open Capital Advisors is an impact advisory firm serving foundations, DFIs, and growth-stage companies across Africa and emerging markets with strategy, fundraising, and portfolio support. Directly comparable to Sagana in the institutional impact advisory niche, overlapping on DFI, gender, and climate mandates.
• Intellecap: Intellecap (part of Aavishkaar Group) is an impact investment advisory firm that provides consulting, investment banking, and knowledge services to inclusive businesses, DFIs, and social enterprises in emerging markets. Highly comparable on mandate type (impact advisory to DFIs and foundations), geography, and revenue model.
• Bridges Fund Management: Bridges Impact+ provides investment advisory and fund management services to foundations, family offices, and institutional investors seeking measurable impact. Directly comparable to Sagana's family-office and foundation advisory work, with overlapping focus on outcomes and impact measurement.
• South Pole Group: South Pole is a climate solutions provider offering advisory, carbon asset development, and corporate sustainability services to corporates and financial institutions. Comparable to Sagana's climate & decarbonization consulting practice (Scope 1-3, science-based targets) and shared DFI/corporate client base.

Broad incumbents

• Dalberg Advisors: Dalberg Advisors is a global development consulting firm advising governments, foundations, and corporates on inclusive economic growth. Comparable to Sagana's development-agency and DFI advisory work, but much larger and offering a broader portfolio beyond impact investment advisory.
• BSR: BSR (Business for Social Responsibility) is a global sustainability advisory network serving corporates on ESG strategy, climate, and human rights. Comparable to Sagana's corporate climate-strategy work, broader in scope and with deeper enterprise reach into Fortune 500 buyers.

Emerging players

• Climate Advisers: Climate Advisers is a strategic advisory firm focused on climate finance, energy transition, and policy — overlapping with Sagana's climate & decarbonization and innovative-finance mandates. Comparable as a niche, expert-led advisory competing for institutional climate mandates.
• Lightrock: Lightrock is a global impact investment platform with climate, health, and inclusive growth themes backed by the Principled Group. Overlaps with Sagana's portfolio management and direct investment activity across emerging markets and shared thematic focus areas.

Regional players

• Phatisa: Phatisa is a pan-African private equity fund manager operating across food, agriculture, and consumer impact themes. Regionally comparable to Sagana's Africa-focused fund advisory work (e.g., Verod Capital 2X certification support), with primary focus on direct fund management rather than advisory.

Others

• Sasakawa Peace Foundation: Sasakawa Peace Foundation is a Japanese foundation that commissions and co-authors research on gender lens investing and impact themes. Comparable as a partner/funding counterparty rather than a competitor — illustrates the foundation-side counterparties that Sagana both serves and is repositioned against.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/saganacapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments20 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SAGANA