US-based investment intelligence provider BlueMark has announced raising $10 million in a Series A funding round backed by Singapore state investment firm Temasek Holdings.
The funding round, which was anchored by financial information and analytics provider S&P Global, comes as BlueMark plans to expand its presence in Asia and boost its offerings in the region.
In a statement, BlueMark said its latest funding round was also backed by three family offices with experience in impact investing — Blue Haven Initiative, Gunung Capital, and Tsao Family Office.
Ford Foundation and Radicle Impact, which invested in BlueMark’s $2.25-million seed round, also participated in the latest fundraising.
“This latest funding round shows how strong the appetite is for greater transparency, accountability, and integrity in the impact and sustainable investing market,” said BlueMark CEO Christina Leijonhufvud
Founded in January 2020, the company provides impact verification and intelligence for the impact and sustainable investing market. Since its launch, BlueMark said it has completed 125 verifications for investors with a combined $206 billion in impact assets under management.
The firm said each company-endorsed verification statement includes an in-depth assessment of a client’s alignment with standards as well as a proprietary rating to help clients advance their understanding and achievement of industry best practices.
Commenting on Temasek’s investment in BlueMark, Dawn Chan, Managing Director, Investments, at Temasek Trust Capital, said there is significant growth opportunity for impact investing in Asia and around the world.
“Independent experts are vital in assessing and assuring that investors are delivering on their impact claims and commitments,” Chan said.
According to the Global Impact Investing Network, there is now more than $1 trillion in impact assets under management globally, a sign that the impact investing industry is in the maturation phase.