Net Purpose joins Investment Association’s FinTech accelerator

Net Purpose, a global impact data provider for responsible, sustainable and impact investors, has been chosen to take part in the Investment Association’s FinTech hub, IA Engine. The six-month accelerator programme aims to connect innovative FinTech companies with forward-looking investment managers and to spur industry transformation. The programme was established by the Investment Association whose 250 members manage £8.5 trillion of assets.

Founded in 2019, Net Purpose has built a data infrastructure that quantifies the social and environmental outcomes of companies and investment portfolios, enabling investors to effortlessly report on their impact and their contribution to the Sustainable Development Goals. Net Purpose’s clients include global asset managers and wealth managers collectively managing more than $1 trillion in assets.

Net Purpose Founder and CEO Samantha Duncan said: “We are thrilled to be part of the latest IA Engine cohort and to be recognised for our best-in-class technology solution helping investors measure the social and environmental outcomes of their portfolios. Access to the Investment Association’s expertise and networks will enable us to make our data more accessible to investors and accelerate the transition to a more sustainable world.”

Mark Whitcroft, Founding Partner at Illuminate Financial, an investor in Net Purpose, said: “Net Purpose’s selection by the IA Engine panel reinforces our belief in the firm’s potential to become the global leader in impact data. It is a testament to the deep expertise of the founders, the commitment of the team and the relevance of their solution for asset managers worldwide.”

Gillian Painter, Head of Membership and the Engine at the Investment Association, said: “The IA’s Engine identifies FinTechs who are at the forefront of innovation. Working together, we are facilitating the adoption of emerging technology across investment management. Congratulations to Net Purpose on being selected by the Engine Advisory Panel to join Engine’s accelerator and innovation hub!”

About Net Purpose

London-based Net Purpose is the world’s first dedicated data provider for a new generation of investors: who invest for profit and purpose. Net Purpose aggregates, cleans and standardizes quantitative data on the social and environmental outcomes of companies and investment portfolios, so that investors can effortlessly report in line with all global standards and goals. The company was founded by impact measurement experts Sam Duncan, former Head of Impact at Leapfrog Investments, and Dinah Koehler, former Executive Director, Sustainable Equities at UBS Asset Management. Net Purpose’s investors include Illuminate Financial; Revent Ventures; Jim O’Neill, former Chairman of Goldman Sachs Asset Management; and Kevin Gould, Co-Founder of Markit.

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About the Investment Association (IA)

The IA champions UK investment management, supporting British savers, investors and businesses. Its 250 members manage £8.5 trillion of assets and the investment management industry supports 113,000 jobs across the UK.

About the Engine

The Engine was launched by the IA under its former name, Velocity, in 2018 as the FinTech hub and accelerator programme for the investment management industry. Engine’s mission is to fuel the adoption of technology within investment management, for the benefit and changing needs of clients.

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