What Telos Impact does

Telos Impact is a Brussels-based impact management and consulting firm founded in 2015 by Marc Flammang, serving foundations, family offices, and high-net-worth individuals seeking to align capital with social and environmental outcomes. The firm operates two service lines, Impact Investing and Venture Philanthropy, and runs two investment vehicles: Stellar Impact SA, a direct venture capital vehicle launched in 2018, and Telos Climate Fund I SComm, a climate-focused fund-of-funds launched in 2023. The firm has deployed more than €500 million in impact projects cumulatively and has stated a target of €1 billion by 2030, with approximately 25 staff operating from Brussels and Paris.

The firm's core offering combines bespoke impact-strategy advisory with principal investment capabilities, supported by proprietary research built from over 250 climate VC fund managers and a curated network of more than 150 partners that generates 400+ deal-flow opportunities per year. It maintains B Corp certification and a recognized European impact-management brand. In November 2025 it participated as an LP in Future Energy Ventures Fund II, a €235 million EnergyTech fund targeting digital and AI-driven grid optimization, illustrating its role as both advisor and ecosystem participant in European climate venture capital.

The business model blends multi-year, custom-priced advisory engagements with management fees and carried interest from its investment vehicles. Client engagements are discretionary and tailored, including disclosed work with a foundation managing 16 impact projects across a specific cause area. Revenue mechanics are not publicly disclosed; growth signals include continued hiring through 2024–2025, the Paris office opening, and continued LP fundraising for Climate Fund I.

Name

Telos Impact

Legal name

Telos Impact

Website

https://telosimpact.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Brussels-based impact management and consulting firm serving foundations, family offices, and HNW individuals via impact-investing and venture-philanthropy advisory, operating Stellar Impact SA and Telos Climate Fund I with €500M+ deployed to date.

Ownership category

akta.pro rank

Product category

Impact Investing and Venture Philanthropy Advisory

NAICS

Religious, Grantmaking, Civic, Professional, and Similar Organizations (813)

SIC

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

akta.pro primary industry

Impact Investing (Intentional, Measurable Social/Environmental Outcomes) (FSAAALAC)

akta.pro secondary industries

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG), Impact / ESG Venture Capital (FSANAAAG), Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)

Keywords

• Impact investing advisory
• Venture philanthropy services
• Foundation management services
• Climate fund of funds
• Impact management consulting

Headquarters

HQ city

Brussels

HQ country

Belgium

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Impact Investing Advisory: Advisory services to families, individuals and asset managers who dedicate their assets to protecting human beings and the environment. The firm provides networks and expertise enabling clients to deploy assets in pioneer companies.
2. Foundation Management: Management services for foundations including creating the foundation, establishing strategy, project sourcing, due diligence, monitoring beneficiaries, measuring impact, communication, and administrative management.
3. Fund Management: Telos manages investment vehicles including Stellar Impact SA (direct VC investing evergreen fund) and Telos Climate Fund I SComm (fund of funds). Revenue likely comes from management fees and carried interest on fund performance.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Telos Impact advises investors, philanthropists, families, foundations, companies, and public institutions on the deployment of capital for positive environmental and social impact. Under Impact Investing, it operates two investment mandates: Stellar Impact SA (direct VC investing, launched 2018) and Telos Climate Fund I SComm (fund of funds, launched 2023). Under Venture Philanthropy, it provides end-to-end foundation lifecycle management covering creation, strategy, project sourcing, due diligence, impact measurement, and administration.

Product overview

Telos Impact is a leading impact management and consulting firm in Europe offering two core service lines: Impact Investing and Venture Philanthropy. Under Impact Investing, they operate two distinct investment mandates: Stellar Impact SA (direct VC investing since 2018, focusing on environmental solutions) and Telos Climate Fund I SComm (indirect fund investing launched in 2023, a fund of funds for climate-focused themes). Under Venture Philanthropy, they provide comprehensive foundation management services covering the entire lifecycle from creation through strategy, project identification, due diligence, impact evaluation, and administrative management.

Differentiator

Problem solved

Functional benefit

Brands

• Stellar Impact SA: Private equity evergreen investment vehicle dedicated to environmental solutions, investing in fast-growing European companies offering pioneering solutions to environmental challenges.
• Telos Climate Fund I SComm

Products and services

• Impact Investing Advisory Advisory services helping families, individuals, and asset managers deploy capital for positive environmental and social impact. Includes access to Telos's networks and expertise and supports deploying assets in pioneer companies providing tangible solutions to societal challenges.
• Venture Philanthropy and Foundation Management Full-service management of foundation lifecycles: creating the foundation, establishing strategy, project sourcing, due diligence, monitoring beneficiaries, measuring impact, communication, and administrative management. Designed for family and corporate foundations.
• Stellar Impact SA An evergreen private equity investment vehicle dedicated to environmental solutions, investing directly in fast-growing European companies that offer pioneering solutions to environmental challenges.
• Telos Climate Fund I SComm A fund of funds targeting 10 to 12 investments in European Venture/Private Equity funds dedicated to climate themes including energy transition, sustainable food and agriculture, clean industry, green mobility, and preservation of natural ecosystems.
• CSR and Impact Strategy Consulting Corporate sustainability and impact strategy consulting for companies — including groups formed through mergers — that want to integrate environmental and social impact into their core business. Includes development of CSR strategy, identification of operational quick wins, and support for B Corp certification.

Quantifiable outcome

• Deployed over €500 million in Venture Philanthropy and Impact Investing projects
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Phitrust: Paris-based impact investment firm offering shareholder engagement, sustainable investment funds, and advisory to European families and institutions. Closely comparable in geography (France/Belgium), client base (HNW families, foundations), and the combination of fund management plus advisory services.
• KOIS: Brussels-based impact investment advisory and fund management firm working with foundations, family offices, and governments on outcomes-based financing and blended finance. Directly comparable on location, hybrid advisory/fund model, and foundation client focus.

Broad incumbents

• BlueOrchard Finance: Global impact investment manager (part of Schroders group) running debt and equity strategies across emerging and frontier markets. Comparable as a scaled impact asset manager but operates with much broader product breadth and institutional focus rather than a family-office niche.
• Triodos Investment Management: European sustainable and impact asset manager with public, private debt and equity strategies. Overlaps with Telos on impact fund management and climate/environmental themes but serves a much broader institutional and retail base rather than HNW families and foundations.
• WHEB Asset Management: UK-based specialist impact investor managing listed equity and venture strategies focused on environmental themes. Comparable on climate and impact investment mandate, but operates at a larger AUM scale and through public markets rather than private foundation channels.
• BNP Paribas Wealth Management - Philanthropy: Private banking philanthropy and impact advisory practice of a major European bank, serving HNW clients on foundation structuring and impact investing. Comparable client segment and service scope, but embedded within a much larger private banking franchise.

Others

• Fondation de France: France's largest foundation network managing hundreds of sheltered foundations with programs across culture, education, health and environment. Not a competitor but an adjacent ecosystem participant; several Telos staff (e.g., Frédéric Bérard, Alizée Leblanc, Hélène Frichot) joined from this organization.

Emerging players

• Mirova Natural Capital: Affiliate of Natixis Investment Managers focused on natural capital, forestry, and sustainable land-use investments. Comparable on environmental impact investing themes and European VC/private equity exposure, though with more institutional and asset-management orientation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/telos-impact

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

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

M&A

Investments4 records

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

Frequently asked questions about Telos Impact