ClearlySo forced to close its doors

According to accounts published on Companies House, the firm has creditors that between them are owed just over £3m. According to Pioneers Post, the firm owes an additional £6.87m in equity investments.

Describing itself as “Europe’s leading impact investment bank”, the company’s activities consisted of capital raising and advisory services for enterprises and funds. It also facilitated deals between investors - private and institutional - and purpose-driven enterprises. 

Speaking to Pioneers Post, Rod Schwarz - who was the company’s chief executive until March last year - suggested the company’s failure was due to impact investing becoming more mainstream. 

He said the markets had “changed tremendously” since he started working in the impact investment sector more than 20 years ago. 

He explained: “Whereas in the past investment firms really didn’t take this idea seriously, and invested purely based on risk-adjusted rates of return, now if institutions fail to consider ESG or impact metrics they have questions to answer.”

In those circumstances, he said, the role of a “niche” impact investment firm - such as ClearlySo - was “open to question”. 

He added: “Early-stage impact enterprise clients needed help, but as soon as they achieved a certain size they were interested in the services of mainstream investment banks, which are now actively courting these impact businesses - and investors are keen to invest in them.”