“We’re still discussing if we should include healthcare under impact investing.”
While impact investing as a whole has experienced tremendous growth in recent years, we’ve heard this sentiment at impact investing conferences, group gatherings, and research discussions as lately as last year.
This disconnect between growth and uncertainty is apparent when looking at the number of impact funds investing in health compared to other impact sectors.
Going through investor data on PitchBook, we found that half of all impact-oriented funds cover environment as an impact category while only a quarter cover health. In 2023 alone, environment-focused funds raised $40 billion versus the $16 billion for health-focused funds.