CASE STUDY – Journey into Impact Investment

The idea of impact investment is gaining traction across the charitable sector, and with good reason.

With traditional fundraising routes under strain, and the demand for measurable impact rising, more organisations are asking: could we use our capital in a way that delivers financial return and furthers our mission?

At Future Care Capital, we asked that question early and decided to do more than just explore the theory.

We built a strategy, took action, and learned by doing.

Now we’re sharing that experience and helping other charities through the process.

Today, we’ve published a new case study that takes an honest, detailed look at this journey. It charts how we went from a bold ambition – to put our capital to work in service of our charitable objectives – through the complexities of designing a fund, facing market hesitation, and ultimately adapting our approach to partner with others. This is a grounded, practical roadmap through the process.

If your charity is thinking about impact investment, or even just wondering whether it’s viable at your size or stage, we hope this gives you real insight – and perhaps a little reassurance that the questions you’re asking are the right ones.

What’s in the case study

The case study covers:

• Why we pursued impact investment
• The regulatory and governance decisions we had to make
• How we approached the idea of launching our own fund -and why that changed
• What we learned from making a direct investment in a health innovation company
• How we ultimately chose to partner with RYSE Asset Management to meet our goals
• The six key lessons we’d offer any charity considering this path

You’ll also find reflections on trustee engagement, risk appetite, and the real operational challenges of moving from intention to implementation.

Key Learnings 

Every charity’s journey will look different. But here are a few insights we think apply across the sector:

• Start with clarity – Know your charitable objectives, your tolerance for risk, and your governance responsibilities. Get those aligned before you look at any opportunities.
• You don’t need to go big – Our first move was a single direct investment. It gave us practical learning, helped our trustees get comfortable, and built credibility.
• Trustees matter – Early, ongoing engagement is key. Not just sign-off, but real, structured conversation.
• The path will change – We didn’t end up where we expected to. And that’s fine. Being flexible and staying mission-aligned matters more than sticking to the original plan.
• Support helps – We worked with expert legal and investment advisors to guide us through regulatory and operational questions. It made a real difference.

Download the full case study here: CASE STUDY – Journey into Impact Investment

Want to talk about what this could mean for your charity? Get in touch with our Impact Investment Lead, Giovanna: giovanna@futurecarecapital.org.uk