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Since our recent re-launch under the Sansar Ventures brand, we have had a few questions from founders about  what we mean by impact and what they need to measure. Since there are no globally accepted standards yet and because there are so many different approaches, this is indeed a perennial problem when it comes to impact investing. However, the landscape is rapidly evolving and over the past few years we are seeing lawmakers, globally, increasingly bringing in legislation into this arena. For us, our simple ask is that we seek founders and disrupters who can come up with ideas that have restorative value for the environment and or society and where appropriate, backed up by numbers. In short, measuring and reporting impact still causes far too many challenges. Even as the world has moved on, this problem has not gone away and we see many founders who set themselves up to fail around this central and essential challenge. If you want to consider yourself as an impact investment you need to define and measure the actual social or environmental impact of whatever innovation it is you are hoping to bring to the market. Most importantly of all, we think the best outcome is where a founder or founding team have started to think about this on day one. Then you simply evolve it as your start-up evolves and tweak as appropriate along the way. Be mindful some things are harder to measure than others, for example, demonstrating that <employees are now happier> is tricky but can be overcome if thought about correctly. It is a given that you will certainly need to be able to provide certain CO2 emission numbers such as your scope 1 and scope 2 Green House Gas numbers regardless of your industry. Most impact investors should be able to help you set up some ESG and Impact basic principles, if indeed they don’t already demand it on their term sheet. Straying away from standardised metrics and methods for quantifying impact can be risky as your target audience (customers, investors, stakeholders) may not understand and thus may not invest nor your potential customers may not buy. There are so many good frameworks/standards etc out there, it really is as easy as picking one that is appropriate for you. As you grow these will change too!  Also, beware of “lies, damned lies and statistics”: as you grow it is very likely your topline totals will worsen. If you produce twice as much of a product in a year’s time, there will likely be an increase in environmental impact. This is actually fine as long as you can explain it, but nearly always you will find a metric that is more appropriate and so gives the correct picture. However, never ever greenwash – this will come back to bite you, both reputationally and financially.  Keep an eye on how much you spend on measuring too – at the early stages you really should not be spending too much on pricey consultants to tell you what you need to do (if you really must, a day or two should be more than enough). Taking a principled approach to this problem from the outset will save you time and money in the long run and your early investor base should anyway be able to help..  With new laws, such as the EU’s ESRS, the EU Taxonomy, starting to take effect, we will see standardisation emerge but in reality it will still take many years before everyone is on the same page. That said, we like what the IFRS is doing through its ISSB initiative and are watching developments closely. More than anything because it is far more straightforward than the EU’s lengthy and complex taxonomy. Ultimately, investors and stakeholders alike will need clear and reliable data to assess whether the intended impact is being achieved or will be achievable at a point in time. With laws also tightening up around impact claims and how they are accounted for, there really is no avoiding this, so better to keep it simple and start early.

Longevity, as simple as it may sound, is one of the most complex industries spanning across science, technology, finance and even politics. It is also one of the most impactful industries commonly described as “the most ethical form of business with the potential for the greatest positive impact for humanity.”     Below is a sweeping overview of the longevity industry. It is an incredibly exciting space for business creation and investment. The scientific and technology developments around the prediction of age-related diseases make this an indisputable market opportunity. And as author Andrew Steele points out, longevity is a matter of investment. The more that is invested, the faster scientific progress can be made.     Ageing and Longevity We may all be familiar with the desire to slow ageing down and maybe even dream of stopping it. This is not necessarily because we may want to stay young but more to do with the impact it has on quality of life.    We are all born with the inevitability of ageing. It is a biological process that starts from around the age of 25. In addition to the visible signs of ageing, our bodies become increasingly vulnerable to developing age-related diseases such as cardiovascular diseases, diabetes, cancer, neurodegenerative disorders, and osteoarthritis, being the most common.   Longevity pertains to the elimination, either from prevention or treatment, of the diseases that impact ageing. In other words, if we can understand the mechanisms of ageing that lead to age-related chronic diseases, it may be possible to prevent and even reverse these diseases (the geroscience hypothesis). However, longevity is much more than biology and medicine. Longevity is about how we live, our physical, mental and even financial well-being, elements that have shaped the industry’s landscape.   The Industry Landscape The longevity industry can be described first and foremost as the business of targeting ageing at the cellular and molecular level (i.e. research and development, science and medicine). It is also the business of tracking and reporting age and health data (i.e. health-related products and services). And finally, it is the business of managing a global retirement market (i.e. financial-related products and services). In the industry, these ‘businesses’ are commonly categorised into four (4) sectors: geroscience, biomedicine, AgeTech and finance.   1) Geroscience focuses on understanding the mechanics of biological ageing (the science of ageing) to identify the means of slowing the process from where it starts. This sector looks at treating the root causes of ageing, often combining biotech and biomedicine. It is also the earliest stage of the industry and looks at ageing in a biomedical engineering approach.   2) Biomedicine is identified as P4 medicine: Personalised, Precision, Preventive and Participatory. This sector has driven two important shifts in medicine. The first shift going from generalised (large scale) to personalised treatment, and the second from treatment to prevention.    3) AgeTech encompasses non-medical digital, IT and technology products and services focusing on the improvement and maintenance of quality of life including mental well-being, functionality (i.e. neuroplasticity preservation) and even social activity.   4) And finally, the financial sector. This sector participates in the longevity industry from different angles. There is the development of technologies (i.e. WealthTech) to support and manage the economic impact of the rising global retirement market (Silver Tsunami). Additionally, there is the involvement of financial institutions investing in the longevity industry especially when supporting the entry of new markets (i.e. AgeTech).    Where to look Whether you are a startup or an investor, the complexity of the longevity industry can make it difficult to understand the industry’s movements and what to pay attention to. But look a little closer and there are a few indicators that can prove helpful.    For example, owing to the capacity to create market-ready products and services for the B2C and B2B markets, the P4 sector is regarded as the largest in terms of funds and number of companies, representing about 50% of the market. When it comes to the largest growth in the short term, these opportunities fall commonly within AgeTech.    At a more specialised level, the largest investments are being allocated to cellular (rejuvenation) reprogramming; longevity discovery platforms; regeneration; longevity drugs, neuropharma, genetics, diagnostics, and immunity; rejuvenation; and longevity platforms.