Growth Equity with 50% Penalty Fees for Missing Impact Targets - Rémi Said (ParTech)

Innovation and Private Capital x aulium · Jun 16, 2026 · 56m

Impact investing has been criticized as superficial—labeling without real change—but what happens when a fund puts 50% of its carry at risk unless it triples measurable impact? Rémi Said explains how Partech Impact built a €300M growth equity strategy around companies that deliver both environmental ROI and hard financial returns, and why that dual value proposition isn't a trade-off but a competitive advantage.

The conversation unpacks the mechanics of impact measurement: how the fund selects a single, auditable KPI for every portfolio company—tons of CO₂ saved, competency credits built, EV…