February 23, 2026

In 2022, “ISA” were launched for the first time in Italy with the aim of providing financial support for education, based on the “pay for success” principle, and promoting the employability of young talents.   What are Income Share Agreements? Income Share Agreements (or “ISA”) are an “investment” financial instrument, already established in Anglo-Saxon markets […]

In 2022, Fondazione Cariplo and Fondazione Social Venture Giordano Dell’Amore launched an impact investment program dedicated to strengthening the cooperative sector. Today, Impact4Coop represents a unique initiative within the social finance landscape: in addition to expanding and diversifying the capital available to Social Cooperatives (alongside or complementary to non-repayable grants), it introduces an innovative financial

The Impact Grant is a financial instrument that incentivizes the achievement of measurable social objectives while strengthening organizations’ capital structures, building a bridge between philanthropy and finance.   A Bridge between philanthropy and investors Within the Italian impact investing landscape, an innovative financial instrument has emerged to concretely connect philanthropy and the market: the Impact