Impact Capital Managers

What Impact Capital Managers does

Impact Capital Managers (ICM) is a 501(c)(6) membership association founded in April 2018 in New York that aggregates the General Partners of private capital impact funds into a single peer community. To qualify, member firms must manage at least $25 million in AUM, commit explicitly to positive impact, maintain impact measurement practices, and target market-rate financial returns, with investing spanning venture capital, private equity, credit, real assets, infrastructure, and real estate. As of June 2026, ICM's network includes nearly 150 firms collectively managing over $80 billion in investor capital and has deployed more than $70 billion into 4,000+ companies globally. The organization is the leading US-based association exclusively focused on market-rate private capital impact investing, and operates a parallel 501(c)(3), the ICM Institute, which houses its field-building, research, and education programming.

ICM's core products and programs include the Mosaic Fellowship (its flagship talent development initiative placing top graduate students as summer associates at member funds, with over 100 Fellows supported since 2019 and 70% entering impact investing roles), the Turner MIINT experiential learning platform co-produced with Wharton Impact since August 2025 (engaging 5,500+ students across 35+ business schools and awarding $1.2M+ in seed capital), the Better Money Better World podcast hosted by Daniel Pianko, a portfolio of practitioner-led research publications including the Alpha in Impact series and the ICM Institute exit-study showing 65% of impact exits meeting or exceeding financial expectations, the newly launched ICM Impact Map interactive data visualization tool, and a Graduate Fellow role supporting the Catalytic Capital Community of Practice with Prime Coalition and Rhia Ventures. Technology infrastructure is intentionally minimal — there is no proprietary platform or AI capability; delivery is event-, research-, and community-led.

ICM's business model is a tiered annual membership subscription priced from $2,000 to $20,000 based on firm AUM, with dues covering access for the entire member firm's team across all programming. A second revenue stream is grant funding from philanthropic partners including Ford Foundation, W.K. Kellogg Foundation, Surdna Foundation, MacArthur Foundation, The Heron Foundation, and the Tipping Point Fund on Impact Investing, supporting specific programmatic initiatives such as Catalytic Capital, Turner MIINT, and the online Impact for Decision-Making curriculum. Customer acquisition is selective and peer-driven: prospective members complete an application, interview with the ICM team, and are reviewed by a Membership Committee and Board of Directors. Engagement runs through 100+ in-person and virtual events per year, including curated GP-LP events, the Impact Awards Gala, the annual Network Convening, quarterly partner and emerging leader breakfasts, and Climate Week NYC programming.

Name

Impact Capital Managers

Legal name

Impact Capital Managers

Website

https://impactcapitalmanagers.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Impact Capital Managers is a 501(c)(6) membership association of nearly 150 private capital impact fund managers managing over $80 billion, providing LP connectivity, peer networking, talent development, research, and policy advocacy through tiered membership dues and philanthropic grants.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership Dues: ICM generates revenue through tiered annual membership dues based on assets under management. AUM is defined as assets under management across all impact fund(s) on which the firm collects a management fee. Dues cover access to all programming for the entire team with no additional fees to participate in the network.
2. Grant Funding: ICM receives grant funding for specific initiatives and programs such as the Catalytic Capital Community of Practice (grant-funded through C3 initiative) and Turner MIINT co-production.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

ICM is a 501(c)(6) membership association that brings together General Partners of market-rate private capital impact funds, delivering value through LP connectivity, peer networking, talent development (Mosaic Fellowship and co-production of Turner MIINT), impact measurement capacity building, policy advocacy, and practitioner-led research and market intelligence. As of mid-2026, the network comprises nearly 150 member firms collectively managing over $80 billion in investor capital. The affiliated 501(c)(3) ICM Institute operates as the field-building, research, and education arm.

Product overview

Impact Capital Managers (ICM) is a network/association of private capital fund managers offering a portfolio of programs and services for the impact investing field. The core offerings include the Mosaic Fellowship (a talent development program placing graduate students at member funds), Turner MIINT (an experiential learning program in partnership with Wharton), the Better Money Better World podcast, ICM Research publications, and the Impact Map (data visualization tool). ICM membership provides access to LP connections, peer networking, professional development, impact management resources, policy engagement, and market intelligence. The organization operates as a 501(c)(6) with an affiliated 501(c)(3) ICM Institute.

Differentiator

Problem solved

Functional benefit

Brands

• ICM Institute: The 501(c)(3) field-building, research, and education arm of Impact Capital Managers.
• Mosaic Fellowship
• Turner MIINT
• Better Money, Better World Podcast

Products and services

• Mosaic Fellowship ICM's flagship talent and leadership development program that cultivates a skilled, diverse talent pool for impact investing by placing high-performing graduate students as paid Summer Associates at ICM member host funds.
• Turner MIINT (MBA Impact Investing Network and Training) A global experiential learning platform co-produced with Wharton Impact, equipping graduate students with the tools to become effective impact investors through a year-long, hands-on curriculum culminating in a pitch competition with seed capital prizes.
• ICM Impact Map Interactive, data-driven visualization that highlights the breadth and reach of investments made by ICM member funds across the United States, exploring capital deployment across geographies, sectors, and ICM's four thematic areas.
• Better Money, Better World Podcast Weekly podcast hosted by Daniel Pianko of Achieve Partners that explores stories of ICM members, their limited partners, and the companies they are scaling, featuring impact fund managers and other impact investing innovators.
• ICM Research Publications Practitioner-led field-building research publications including the Impact Allocator Perspectives series, the Alpha in Impact series, and specialized studies on impact investing topics such as value creation, exit outcomes, and legal innovation in the impact space.
• Graduate Fellow, Catalytic Capital Initiative A 10-month, part-time remote fellowship supporting the launch of a Catalytic Capital Community of Practice in partnership with Prime Coalition and Rhia Ventures, with a $10,000 stipend for the fellow.
• ICM Membership (Annual Membership Benefits Package) Annual ICM Association membership giving fund manager firms access to LP Connections & Fundraising Resources, the Annual Network Convening, Peer Community & Network, Talent & Emerging Leaders Development, Fund Operations & Resources, Impact Management Capacity Building, Policy & Advocacy Engagement, and Research & Market Intelligence — all-inclusive for the entire team with tiered dues from $2,000 to $20,000 based on AUM.

Quantifiable outcome

• 65% of impact exits meet or exceed financial performance expectations
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Wharton Impact, Value, and Sustainable Business Initiative (Wharton Impact)coreStrategic or Co-development Partner · 19 August 2025ICM Institute entered strategic partnership with Wharton Impact to co-produce the Turner MBA Impact Investing Network and Training (Turner MIINT) program. ICM Institute assumed co-producer role working alongside Wharton Impact to shape curriculum, oversee operations, lead fundraising, and set strategic direction. The partnership leverages ICM's network of 140+ leading private capital funds managing $80B+ with Wharton's academic rigor and resources.
• Turner Impact CapitalcoreStrategic or Co-development PartnerTurner Impact Capital is the namesake sponsor of Turner MIINT program. CEO Bobby Turner serves as program namesake. Turner Impact Capital has been instrumental in establishing the program's $50,000 equity/debt investment prizes for winning student teams.
• Harvard Business SchoolminorStrategic or Co-development PartnerAcademic partner for Turner MIINT program. Part of the 35+ business schools participating in the program. Has hosted early ICM network meetings.
• University of Chicago Booth School of BusinessminorStrategic or Co-development PartnerAcademic partner that hosted early ICM network meetings. Part of the 35+ business schools participating in Turner MIINT program.
• Prime CoalitionminorStrategic or Co-development PartnerICM is facilitating launch of Catalytic Capital Community of Practice convened in partnership with Prime Coalition and Rhia Ventures. Work is grant-funded through C3 initiative.
• Rhia VenturesminorStrategic or Co-development PartnerICM is facilitating launch of Catalytic Capital Community of Practice convened in partnership with Prime Coalition and Rhia Ventures. Work is grant-funded through C3 initiative.
• Impact FrontiersminorStrategic or Co-development PartnerICM partnered with Impact Frontiers on investor cohorts and the 'Impact for Decision-Making' online curriculum on impact-financial integration.
• Morrison FoersterminorStrategic or Co-development PartnerGlobal law firm partnership for research including 'Strengthening Outcomes: Impact and Financial Value at Exit' and 'Legal Innovation in Impact Investing' studies.
• TidelineminorStrategic or Co-development PartnerResearch partnership producing 'The Alpha in Impact' (2018) and 'New Frontiers in Value Creation' (2024) reports exploring how impact objectives enhance financial value.
• Foley HoagminorStrategic or Co-development PartnerPartnered with ICM on Impact Allocator Perspectives 2025 series, specifically providing feedback on fund manager and allocator priorities in impact reporting.
• Morgan LewisminorStrategic or Co-development PartnerLaw firm hosting Mosaic Fellowship orientation sessions. Provided office space in New York City for intensive 2-day Fellow orientation.
• ICM LP Advisory CouncilminorStrategic or Co-development PartnerHigh-level LP advisory body established to accelerate progress toward shared objectives in private capital impact investing. Intentionally non-transactional to encourage candid sharing between GP and LP stakeholder groups. Chaired by Mark Berryman of Capricorn Investment Group.

Scale indicators15 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Global Impact Investing Network (GIIN): The leading global membership network for impact investors, providing research, education, and tools to impact investing practitioners. Closest analog to ICM at the broader impact market level, though GIIN's membership spans LPs, GPs, and service providers across both developed and emerging markets.
• Toniic: A global action-oriented community of impact investors (LPs and GPs) committed to deploying 100% of assets for impact. Comparable to ICM in its network-based approach to mobilizing private capital for impact, though smaller and LP-centric.
• Mission Investors Exchange: A membership network of foundations and mission-driven investors deploying capital for social and environmental impact. Peer to ICM's mission-aligned field-building role, with overlap on impact measurement, peer learning, and LP-side capacity building.
• Confluence Philanthropy: A practitioner network for philanthropy advisors, private foundations, and impact investors focused on aligning capital with values. Comparable field-builder in the impact/responsible investing ecosystem with similar peer-learning and convening model.
• Prime Coalition: A nonprofit catalytic capital aggregator and partner on ICM's Catalytic Capital Community of Practice. Directly comparable as a mission-aligned organization mobilizing private capital for impact and co-developing programming with ICM.
• Impact Frontiers: A collaboration of investors committed to advancing impact measurement and management practice. Active partner of ICM on the 'Impact for Decision-Making' curriculum and investor cohorts; highly comparable mission and audience.

Broad incumbents

• Institutional Limited Partners Association (ILPA): The preeminent global membership organization for limited partners in private capital. Comparable as a peer-driven association serving private market investors, though ILPA's scope is much broader (all PE/VC LPs) versus ICM's focused impact-GP niche.
• SIFMA (Securities Industry and Financial Markets Association): The leading US trade association for broker-dealers, asset managers, and securities firms. Comparable as an established industry-association model in financial services, even though SIFMA's scope is far broader than impact investing.
• CFA Institute: The global association for investment professionals, offering the CFA charter and standards for investment practice. Relevant structural peer as a membership-driven standards-body for investment professionals, with overlap on ethics, performance reporting, and continuing education.

Others

• Aspen Institute (Business & Society Program): A think-tank and convening organization running leadership programs and policy work on business and society issues including impact investing. Adjacent ecosystem player that influences the field and runs events with similar practitioner audiences.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/impact-capital-managers
• Xx.com/icm_network

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Impact Capital Managers