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Ventures At The Helm

Ventures At The Helm

This guide seeks to help impact ventures identify and advocate for the impact measurement and management (IMM) strategy that will serve them best in the moment. We provide new insights and actionable guidance for both ventures and investors committed to improving their IMM practices and performance.

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How to Use this Guide

Our hope is that when ventures and investors constructively engage with each other by leveraging the experiences and tools in this guide, they can realize the potential of IMM to drive greater impact, together.

For Ventures

Find out how other ventures have navigated through phases of their impact journeys, addressed high-priority questions, and made choices.

For Investors

Identify concrete ways to support ventures, and how your can align your expectations and contributions to get the most value from IMM.

For Practitioners

Understand the questions, context, and choices that both ventures and investors face in market-based settings, to promote better practice.

Reframing IMM

We suggest three ways that IMM, as it is currently practiced, can and should be reframed to represent the needs of ventures


What can and should be measured depends on a venture’s visibility and control over impacts and how its business model and mission evolve.


Ventures cannot hold conditions constant or use the same metrics consistently because their context, resources, and mission & strategy changes.


Along the IMM journey, there are ebbs and flows between sophisticated, multi-dimensional approaches, to simple and direct measures, and then back again.

Phases of the Venture Impact Journey

Ventures enter, exit, and revisit phases in response to their needs, inflection points, resources, and changing contexts.



is an intentional, defined moment of framing and goal setting. It often happens in a venture’s early stage, or during a time of intentional pause and reflection.



is a continuous period of exploring new opportunities and testing questions. It often takes place in the early stage as a venture is seeking proof of concept and product-market fit.



is a continuous period of moving and managing towards a streamlined and optimized set of goals, often during a time of greater demand and momentum.



is an intentional, time-limited pivot or adaptation to a new opportunity, need or question, often in parallel to the core business.


We designed a set of worksheets to translate these findings into actionable strategies and tactics for both ventures and investors.

Venture Worksheets

Help you identify the phase you’re in right now, the IMM tools that would serve you best, and discuss how your investors can support you.


Investor Worksheets

Help you identify your IMM preferences and needs, and initiate conversations with ventures to derive the most value from IMM.


How Investors Can Support Ventures with IMM

There are many ways you can support ventures in adopting value-generating IMM. Some of this support is technical and financial, but there are also important non-technical and non-financial supports.

About Us


ImpactAlpha - April 2022

Putting ventures at the helm of impact measurement and management

ImpactAlpha - May 2022

How impact investors can maximize the value of impact management – for their portfolio ventures

Contact Us

We look forward to your feedback on the guide, how you are using the worksheets, and opportunities for collaboration and learning.