Marieke Beeuwkes Spence, Executive Director at Impact Capital Managers, on Mobilising Private Capital for Long-Term Impact | Season Nine, Episode Five

Sep 30, 2025

Marieke Beeuwkes Spence, Executive Director at Impact Capital Managers, leads a network mobilizing over $80 billion toward impactful climate and social solutions. She shares her journey from philanthropy to impact investing, emphasizing the importance of private capital in driving meaningful change. The conversation dives into emerging technologies like AI in energy and biodiversity, resilience in investing, and the crucial role of diversity in talent development. Marieke's insights offer a hopeful perspective on aligning strong financial returns with impactful values.

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ANECDOTE

Moment That Sparked Her Career

Marieke described a turning point when she saw a foundation donate to Greenpeace while its endowment profited from palm oil investments.
That cognitive dissonance pushed her from philanthropy into impact investing to use capital markets for systemic change.

INSIGHT

ICM's Role And Selective Membership

ICM is a selective trade association for private capital funds targeting market-rate returns plus measurable impact.
The organisation focuses on peer learning, research, fundraising support and has strict membership criteria to preserve integrity.

INSIGHT

Returns Fuel Industry Growth

Market tailwinds and demonstrable returns have driven ICM's growth to 150 members and $80bn AUM.
ICM research found 66% of exits met or exceeded financial targets and member fund net IRR averaged over 25%.

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Welcome to Season Nine of Conversations in Cleantech!

This season, we’re going behind the scenes of transition infrastructure - speaking with the investors shaping how, where and why climate capital flows. From decarbonisation and energy security to technology maturity and policy gaps, we’re unpacking what it really takes to fund the systems that underpin a net-zero future.

In this episode, Jenny Gladman and Chloe England are joined by Marieke Beeuwkes Spence, Executive Director at Impact Capital Managers (ICM), a leading network of private capital fund managers that deploys over $80 billion across climate and social impact.

Marieke shares her journey into impact investing, from philanthropy consulting to founding Impact Capital Managers, and offers a grounded yet optimistic look at how private capital can be mobilised for meaningful, long-term change.

Together, they explore what’s driving investor appetite across climate and clean tech, the intersection of AI, energy and biodiversity, and how Impact Capital Managers supports its members through research, collaboration and shared learning. From secondaries and credit to the business case for DEI, Marieke offers rare insight into how market fundamentals are evolving, and where true resilience lies.

This is a conversation about integrity, innovation, and the growing movement of investors proving that strong returns and strong values don’t have to be at odds.

01:14 - Introduction to Marieke
02:45 - How are you, and how was your Labour Day weekend?
03:20 - What led you into impact investing, and how did that path bring you to ICM?
06:40 - Can you tell us about ICM - what it does and how the platform came about?
09:10 - You hosted 50 events last year - were they all in the US, or did some take place globally?
10:15 - What’s driving ICM growth, and what does it say about the current moment for impact investing?
13:18 - How have you seen the ICM members adapting their strategies in this environment?
15:20 - How are innovations like AI, battery optimisation, and biodiversity intersecting with investor appetite?
17:40 - How do your members collaborate to embed ESG practices in their strategies while staying agile and innovation-focused?
20:02 - What’s the business case for DEI in private markets, and how do you see talent strategy evolving?

24:15 - Your members raise capital from major institutions like Citi and EQT - what are those investors prioritising and how has the climate and impact conversation evolved in recent years?

26:10 - What gives you the most hope when it comes to the intersection of capital and climate?
27:40 - If you could go back, what one piece of advice would you give your younger self early in your career?

Connect with your hosts, Jenny Gladman and Chloe England, on LinkedIn.

Find your guest, Marieke Beeuwkes Spence, on LinkedIn.

Thanks for listening to Conversations in Cleantech brought to you by Brightsmith.

This is a Loaded Hype production.