Creating an organisational Theory of Change for impact investing

Invest International is a financing institution that invests in Dutch solutions for global challenges. Their investments and project development activities contribute to the Sustainable Development Goals (SDGs) and to the Dutch economy. Akvo supported them by developing an organisational Theory of Change to map how the institution's strategies contribute to impact in these two areas. 

Above: Photo by Andreas Gücklhorn on Unsplash




Impact investing


Theory of Change

The challenge

Invest International wanted to capture on organisation level how their support and investments for a broad range of clients in different sectors lead to intended outcomes and finally contribute to the SDGs and the Dutch economy. Invest International brings together already existing international financing activities from Netherlands Enterprise Agency (RVO) and the Dutch Entrepreneurial Development Bank (FMO), and aligning their activities and vision required a strategic and participatory approach.

The solution

Akvo facilitated the development of an organisational Theory of Change, in line with Invest International’s strategy. We employed a participatory and inclusive approach throughout, ensuring different departments and teams were represented in the process. The final deliverables were a visual diagram, a causal narrative, an actor & factor analysis, and an impact narrative.

The impact

The participatory process resulted in a Theory of Change that is plausible and co-owned by different teams within Invest International. The Theory of Change clearly sets out the two main interventions of Invest International, what outcomes are expected, and explains how they contribute to a range of SDGs as well as the contribution to the economy of the Netherlands.