In this article, Dalberg Partner Kusi Hornberger shares findings from an AI-powered analysis of the public reports of 90 impact funds, scored against the Impact Performance Reporting Norms. The cohort average was 57/100, but the aggregate masks important patterns.

While around a third of impact funds appear credible on first read—with clear theses, polished SDG mappings, and well-designed reports—they score low on measurement rigor and governance of impact performance.

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