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Impact Investing

Closing the Missing Middle: Innovative Impact Deal Structuring

Discover the next frontier of impact finance by learning how to design innovative deal and fund structures to support impact ventures.

impact deal structuring course trainer markus freiburg ceo of fase


Founder and Managing Director

impact deal structuring course trainer laura catana from fase


European Investor Relations
Manager at FASE

Created in partnership with

Watch the course trailer

Learning Goals

What you will learn upon the release of the course:​

Innovative Impact Deal Structuring

Course modules

The course is structured around 4 chapters and 12 lessons on how to design innovative deal and fund structures in impact investing.

In this Chapter, you will discover how impact ventures' financing needs differ from those of traditional enterprises. You will explore the toolbox investors can use to create tailored financing solutions and the power of smart investor collaborations. Based on practical examples, you will get a clear understanding of the pros and cons of different types of financing instruments and when to apply them best to support your investees’ businesses and impact models.

In this Chapter, you will explore how we can design equity capital that truly fits impact ventures' needs in detail. You will analyse the specificities of equity and convertible notes for impact ventures and illustrate how they can be customised with impact links or ratchets. Based on real life examples, you will grasp the scope of possibilities, understand typical terms, characteristics and features and put yourself in the shoes of impact ventures and their unique perspectives on getting impact-aligned shareholders aboard.

In this Chapter, you will deep dive into the design of top notch hybrid instruments and recognise best-practises for structuring a deal with multiple types of investors. Again here, you will discover the practical side of the matter by delving into relevant and detailed case studies.

In this Chapter, you will analyse the opportunities and constraints for setting up hybrid impact funds, with a specific focus on the risk/return profiles of fund managers and investors. You will further identify innovative ways through which risks can be reduced. You will then discover the how-to’s based on a case study illuminating the process of launching a hybrid fund and highlighting how to best convince investors and other stakeholders to join.


case studies & practitioner insights


Team of trainers

Lead Trainer

Markus Freiburg

Founder and Managing Director of FASE

impact investing and hybrid blended deal structures online course trainer laura catana from fase
Lead Trainer

Laura Catana

European Investor Relations Manager at FASE

Dr. Markus Freiburg is the Founder and CEO of FASE. He is recognized as a thought leader for social finance, with an active presence in public discourses e.g. as member of the Expert Group on Social Entrepreneurship (GECES) of the EU Commission and the German National Advisory Board of G7 Impact Investing Taskforce. He has a wealth of experience delivering training courses in the field of impact investing in academics as well as through EU’s EaSI technical assistance platform.

Laura Catana is FASE’s European Investor Relations Manager and has been active in the field of social entrepreneurship and impact investing for nearly 10 years. At FASE she is managing the community of investors, offering exchanges and learning opportunities, hosting events and conducting analyses on the state of the ecosystem. Laura is a member of EBAN’s Impact Investment committee and has extensive experience in providing training to impact practitioners, such as through Ashoka’s Visionary and Impact Academy programmes.

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What you get as an Early Bird

Price to be paid today
€ 1
Price of the course
€ 299
Discount for early birds


Remainder to be paid upon release
€ 270

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Case study

Scaling and Financing of Social Innovation

"Healthy Entrepreneurs envisions a world where everyone in Sub-Saharan Africa has access to basic health products and services."

More than 600 million people in Sub-Saharan Africa do not have access to basic health care and affordable health products. Getting health information and care can be expensive, due to high costs of transportation to the nearest health centres, the expenses for consultations and care (which are generally not covered by insurance), and the widespread presence of falsified or substandard medication.

A low availability of health centres and high travel costs to the nearest ones, lead to substantial costs: for every $100 spent on care, 45% is spent on transportation. Available consultations and care can be challenging to afford , especially since expenses are generally not covered by insurance. There is a high dependency of the local black market for medicines, leading to the use of cheaper but counterfeit medicines (30-60% of all available medication).

Healthy Entrepreneurs (‘HE’) engages rural community health workers in a sustainable micro-business that allows them to improve access to health information and products in their communities while generating income for themselves and their families.


Any questions?

Contact Maria

Did you know that 92% of our course takers are satisfied? That’s why we boldly guarantee that our courses will not let you down. Didn’t get what you expected from the course? Let us know and get a full reimbursement up to 15 days as an Autonomous Learner, or up to 5 days as a Social Learner.

Customer Happiness Manager

Efiko Academy team customer success manager maria pires

Frequently Asked Questions

Can't find the answer to your question? Contact us on hello@efiko.academy.

The estimated release date of the course is November 2021. As an Early-Bird, you will receive regular updates about the release date.

You can decide to enroll at the discounted rate in the course up to 3 months after the release of the course.

You will be able to start learning whenever it suits you best. 
You can interact with peers and post your questions for the expert at any time.

This course is mainly designed to train analysts and investment managers of capital providers that aim to create positive societal impact (i.e. impact funds, foundations, philanthropists, ESG funds focussing on SDGs and social/environmental responsible investors). The complexity of the content increases with every chapter but many examples, exercises and case studies will help you build self-confidence and deep understanding in each dimension of the curriculum. 

If you are a consultant or advisor supporting capital providers, this course will help you set up hybrid financial instruments and to convince investors to accept impact-linked finance mandates. It will allow you to join live sessions with the experts and get tailored feedback on your cases or questions.

Yes, a certificate, signed by FASE and Efiko Academy, is provided upon completion of the course.

In all packages, you’re invited to join the community platform where you can ask your burning questions. 

If you’re enrolled in the blended learning option, you will be invited to attend one live case solving session with the lead trainers and a group of peers where you will also have the opportunity to ask questions.

In other cases, support@efiko.academy is always open for questions.

For now, the course is only available in English.

The content will soon be subtitled in various languages.

Yes, we offer the option to pay with credit card (Mastercard, VISA) or PayPal. If you would like to pay with your debit card, we advise you to create a free prepaid PayPal account here and use it to make your payment.

Every transaction on Efiko is performed and secured by Stripe, a reliable payment processor.

Yes, you can secure several tickets at once by contacting us at hello@efiko.academy. Include the number of people you would like to enroll and your preferred course delivery mode (autonomous vs social package).

We offer also B2B/group offers. If you’re interested, please have a look at our team page and request a demo.

Yes, Stripe processes payments in 130+ currencies. PayPal also allows you to convert money to a different currency.

Yes, we can provide an invoice or proof of purchase so you can get reimbursed by your employer or company. Simply reach out to us at hello@efiko.academy stating the course name and package you'd like to take and for how many people. 

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