Some interesting news came in earlier this week from the impact investing space. Nine impact investors, including Aaviskaar, Omidyar Network, Elevar Equity and Unilazer Ventures, have come together to set up a self-regulatory body called Indian Impact Investor Council (IIIC), reports The Economic Times. Unitus Seed Fund is also a founding member. The trigger for the initiative appears to be the recent microfinance crisis, which saw several impact investors (venture capital investors who focus their investments on opportunities at the bottom of the pyramid) burn or struggle to salvage a significant chunk of their investment portfolios.
IIIC proposes to make it binding for members to conform to certain best practices while pursuing their investment objectives. These could range from defining the sectors that qualify for impact investments, the tenure of investments and metrics for measuring returns.