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Overheard at the GIIN Forum

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Published: 17 October 2025

This year’s GIIN Impact Forum took place in Berlin, where industry leaders spoke about key themes driving the growth and innovation in the sector.

Photo by Krystle Higgins

Impact Investor took part in this year’s GIIN Impact Forum in Berlin, where people from across the industry came together to discuss the future of impact investing. Here are some of the things we heard on key topics shaping the sector.

On the future of the sector

Dean Hand, chief research officer, GIIN:

“The compound annual growth of impact assets under management has been about 21% over six years, even with volatility, the desire for impact investments that make a difference in the lived experience of people and the planet remains solid and resilient.

Many of the sectors investors focus on, such as affordable housing, clean water, education, healthcare,  are almost countercyclical. The desire for impact investing remains strong no matter what’s happening in the market.”

Jim Sorenson, founder, Sorenson Impact Group

“I think the future’s bright. We’ll get through the headwinds we’re facing now. I’m encouraged because of what I see in the next generation, this is what they really care about. That’s where our future lies.

If we’re here ten years from now, I’d love to see a hundred countries with dedicated groups building impact investing ecosystems. The assets under management will grow exponentially, and that’s why we’re all here.”

On scaling blended finance

Yvan Renau, CEO of Symbiotics Investments:

“Blended finance structures still need to find the right ‘sweet spot’ from both an impact and investment thesis perspective. This is especially important now, as resources to mobilise institutional investors are becoming scarcer. We must be careful not to go into areas where private investors have already proven they can achieve adequate returns without support. 

“Personally, I see the greatest value of blended finance lying between the pioneering stage and the mobilisation stage, where it can truly make a difference.”

AI for good

Cilia Holmes Indahl, CEO, EQT Foundation

“Many people think AI will make organisations narrower, a diamond structure with everyone managing AI agents. We don’t believe that. We believe AI will be our companion, not our replacement.”

If we can build empathy and care into AI, it will not only serve us but help us relate better to other forms of life. That’s the essence of AI for good.”

Family offices

Bryan Goh, CEO, Tsao Family Office:

“If we demonstrate that as impact investors we can make money, that’s powerful. We must have high standards and make money while pursuing impact. It shows commercial investors that impact doesn’t mean taking a loss. Family offices can provide loss-absorption capital for purely commercial investors. That’s how we can crowd in the big, regulated capital through blended finance.

“Every family office is different, it’s unruly capital. That’s both a challenge and a strength. But institutional rules, while inconvenient, bring predictability and scale. The real opportunity is in a symbiosis between family offices and institutions – trading influence, best practice, and credibility.”

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