Impact Measurement and Management Spotlight: SJF Ventures
Impact Capital Managers highlights how SJF meets its “IMM Fundamentals”
Brian Powers, Co-Founder and former CEO
High Growth.
Positive Impact.
SJF Ventures invests in high-growth companies creating a more sustainable and equitable future.
Over 25 Years of Investing
Sustainable Jobs Fund was formed in 1999. Our original name set out the impacts we still pursue today—a clean, resilient environment and equitable opportunities. Though our strategy has expanded over our 25+ years of experience, we remain committed to these fundamental themes.
Impact Stats
86
portfolio companies
have partnered with SJF to scale their impact
18,289
total jobs
created by SJF portfolio companies
SJF Ventures (SJF) was established in 1999 as a venture capital partnership focused on creating quality jobs in low-income communities through sustainable industries.
>3 million
metric tons of CO2
mitigated by SJF portfolio companies
This year, SJF partnered with a team of executive MBA students at Duke's Fuqua School of Business to build a model estimating the avoided emissions associated with SJF’s portfolio companies. This estimate gives us a starting point to understand the scale of our climate impact.
20+
years
of impact data collected from our portfolio companies
SJF has been collecting impact data from its portfolio companies since 2001, though this process has taken many different forms throughout our history.
Our Impact Strategy
SJF invests across six sectors to address climate change and drive equitable opportunities. We use our expertise in these sectors to support portfolio companies working within and across them: from Take Command, which improves job quality by enabling small employers to offer health insurance, to Iron Sheepdog, which supports small business growth while reducing emissions in trucking. We believe environmental and social impacts are intersectional, and much of our portfolio represents that approach.
Because the biggest challenges we face aren’t confined to single sectors, neither is our investment strategy.
A Cross-Sector Approach
for Deeper Impact
Environmental Impact
We invest to mitigate climate change and environmental degradation, including scaling clean energy and efficiency and reducing waste and carbon. We work across all areas of the economy, seeking energy and material flows that are more sustainable, affordable, and socially beneficial.
Energy, Carbon, and Climate Resilience
- Accelerate the transition to clean energy
- Catalyze emerging solutions to climate change
- Improve public outcomes in a changing climate
Supply Chain and Circular Economy
- Drive resource efficiencies and improve resilience in supply chains
- Reduce waste and increase the reuse of goods
- Advance economic opportunity of workers and small businesses
Sustainable Products and Systems
- Promote more sustainable products
- Enable healthy and ethical food systems
- Encourage fair labor and trade practices
Social Impact
We were founded to invest in companies that help support disadvantaged individuals and communities. We continue to do so, with a deeper focus on investing in solutions to problems driving inequity, including through gainful employment, quality health and education access, and stronger civil institutions.
Education and Employment
- Improve learning environments, systems, and outcomes
- Create equitable and quality career pathways
- Improve employee wellbeing at work
Health and Wellness
- Increase access to care
- Provide better long-term outcomes for less cost
- Improve the care experience
- Address social determinants and care coordination needs
Government and Civil Society
- Enhance the leverage of government services for public good
- Improve the public safety of physical and digital spaces
- Strengthen democracy, civic engagement, and community
Impact Highlights
6,963,173
kWh of energy savings
on average per ENTOUCH customers at year end
8,030,000
total pounds
of waste diverted during the year
733,000
hectares of land
secured by Revalue Nature’s partners for next-generation projects fighting against deforestation and avoiding carbon emissions
872,000+
students
on “free and reduced lunch” served during the year
1.90%
average A1C level reduction
among Cecelia Health patients in 2023
A 1-point reduction in A1C reduces the rate of heart attack, stroke or risk of death from cardiovascular causes by 57%.
31,000,000
spam, abusive, or toxic comments
hidden since inception
The Evolution of our Strategy
SJF has refined its strategy as the impact investing industry has evolved over the past 25+ years.
The Big Idea.
Created the CDFI for low income job creation and early climate initiatives
The New Model.
Delivering impact alongside market return rates
An Impact-Driven Team.
Generating impact alpha through team expansion and sectorial expertise
Measuring Impact.
Early adopter of emerging industry standards in impact measurement
Growing the Ecosystem.
Driving the industry forward as founding members of the Impact Capital Managers
Bending the Curve.
Dedicated team for impact acceleration work across our portfolio
Sustainable Jobs Fund
1999-2004
SJF Ventures II
2004-2011
SJF Ventures III
2012-2016
SJF Ventures IV
2016-2020
SJF Ventures V
2020-Today
SJF understands the challenges and opportunities of scaling a rapid growth sustainable technology and supports its companies through thick and thin. Cody always looks for ways to help companies get to the next stage, whether it’s funding, talent or strategic development.”
Supporting our
Portfolio Companies
SJF provides capital to grow impactful businesses driving positive change across our six themes. Our impact acceleration team works in partnership with our investment professionals and portfolio companies. We support our portfolio companies in all things impact, such as reaching new, higher-need beneficiary groups, improving their employee value proposition, or upgrading their impact measurement practices. In the past year, we’ve brought in experts to support on talent development, sponsored end-beneficiary outcomes studies, and hosted webinars around key topics such as customer success strategy and generative AI best practices.
Measuring Progress Towards
Our Impact Objectives
Every year, we ask our active portfolio companies to complete our Annual Impact Survey. We believe impact reporting should be a collaborative process, with input from all stakeholders — including Limited Partners, our portfolio companies, and their beneficiaries. With that in mind, we continue to review and adapt the survey to find the right balance between standardized metrics, company-specific measurements, and outcomes-driven beneficiary feedback.
We share this data back to our portfolio companies to help them benchmark their performance and provide ongoing support.
This data is imperfect, but we aim to be transparent, practical, and aspirational about our impact measurement journey. We invite you to scroll through our living impact report, which will evolve together with the firm and update as we garner new insights throughout the year.
Recent Insight
How SJF Changed Our Impact Reporting to More Effectively Engage with Portfolio Companies
Earlier this year, SJF Ventures completed its 2023 Impact Survey — a comprehensive review of each of our portfolio companies…
– May 29, 2024
SJF’s Commitment to Sustainable Jobs
From our inception in 1999, SJF has backed businesses that empower people. Creating quality job opportunities in healthy, diverse, and ethical workforce environments can generate deep societal impact. After we make an investment, SJF encourages portfolio companies to prioritize employee satisfaction and wellness through culture, DEI practices, benefits, and good governance.
Creating Quality Jobs
In our annual survey, we measure several indicators of job quality including benefits, engagement, and wages. SJF portfolio companies excel in the benefits they provide, but there is room for improvement in establishing systems like employment surveys to continue to engage and respond to their workforces at scale.
We compared our portfolio data to industry benchmarks, where available.
14,249
new jobs created by SJF portfolio companies since our initial investment
100%
offer healthcare benefits
46%
offer wellness benefits
Comparable industry benchmark: 41%
90%
offer a retirement plan
~70% of private US businesses offer retirement benefits (58% of small businesses)
89%
gave bonuses last year
82%
have a formal performance management and feedback process
61%
conduct an employee satisfaction survey
Comparable industry benchmark: 74%
81%
median response rate
Comparable industry benchmark: 80%
68%
have a formal DEI policy
61% of US companies have policies in place for fairness in pay and hiring; 54% have explicit DEI programming
89%
have a formal Employee Handbook or Code of Conduct in place
Our Contribution to the Field
Through our collaborative work with peers and leading organizations, SJF extends our firm’s reach, shares lessons learned, and contributes to the success and growth of the impact investing field. SJF is a co-founding member of ICM, a network of over 110 market-rate impact funds.
SJF in the field
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Alpha in Impact: Strengthening Outcomes Impact and Financial Value at Exit
SJF included in Tideline research on driving both financial and impact performance through impact value creation
The Alpha in Impact: How operating with an impact objective can add financial value for investors
Tideline’s analysis of nearly 30 financial transactions from ICM-member investment portfolios, including SJF, uncovered 10 unique drivers of “impact alpha”
