The number of private debt impact funds has been growing steadily over the last decade to reach 423 in 2025. The growth rate in the number of impact private debt funds over the last 10 years is 184%, while in the last 12 months the number of private credit impact funds has grown by 1.7%.
There are 232 impact managers running the 423 funds. Of the 423 funds, 264 are open to investors, equivalent to 62.4%, which is a similar percentage to the number of managers with open funds. So far, €66 billion has been raised in private impact debt funds since 2015, while the target size is €83 billion.
Given the emerging market bias of the private debt impact funds in the Phenix Database it is not surprising that the top two Sustainable Development Goals (SDGs) targeted are No Poverty (SDG1) with 206 funds focusing on this and 152, equivalent to 36% of the private debt fund universe, targeting SDG7: Affordable & Clean Energy.
Next to the insights and analytics provided by Phenix Capital's Impact Fund Database, the report also features a deep dive into ‘Latin America’.
“With Brazil, home to the Amazon, also known as the ‘lungs of the earth’, set to host COP30 in November, all eyes are on the country specifically, and Latin America in general, from an energy transition and climate change point of view. But not only does the region need to tackle climate change, but Latin America and the Caribbean (LAC) also needs to reduce poverty, hunger and drive economic growth; all of which need significant investments,” says report author and Head of Research Niki Natarajan.
Phenix Capital’s Impact Database provides investors with access to and intelligence on the impact fund market opportunities available to them. Three main variables used to construct, monitor and update the dataset: funds considered have an impact proposition; institutional scale; and target market-rate returns. Impact Database now includes detailed overview of more than 2,500+ impact funds.
