The minor Impact Investment Management  is designed to prepare students for the requirements of the investment management positions in companies and organizations, according to the latest developments in the business practice. Investors are increasingly aware that their assets create impacts in the world—both positive and negative. Their current investment portfolio is made up of enterprises, funds, real estate, and other financial instruments that exist in and influence a dynamic world. In recent years, “knowing what you own” has become the motto of sustainable and impact investors. Our decisions as consumers, investors, philanthropists, and citizens can have both positive and negative impacts. The recent developments have come about following a shift in how industry participants view the impact of responsible investing on financial performance.

This minor is intended to provide students with a body of knowledge related to investing and funding approaches used by impact investors. This will be done through a combination of lectures, discussions, and presentations by leading impact investors and thought leaders. The substantive areas covered will include: (1) financial instruments and financial markets (2) the differing financial return and  impact return expectations of impact investors; (3) how investors/funders and investment/wealth managers and advisors structure their portfolios and funds; (4) strategies used by impact investors to search for impact investing opportunities; and (5) various financial modelling and investment valuation techniques. As well as investor/funder perspectives, the minor will explore the role of financial innovation in creating opportunities to finance social enterprises, and the enabling regulatory framework and information intermediaries that are needed to support the development of robust social capital markets.

Secondly the students will execute field research and work on a project during which the will be able to critically apply the skills and knowledge into the real world problems. For that purpose the real life cases will be provided by the professorship purpose economy, partners in the work field (investors and investees), lecturers and researchers.

The goal of this minor is to provide the students with necessary tools and skills so they can act as change agents:

• Asses, in a complex field of stakeholders, the impact of the investors and their portfolio’s beyond its financial performance so it contributes to the transition of society and creates value for people, nature and direct stakeholders;
• Apply key valuation concepts, frameworks, models, value drivers, obstacles and insights in impact investing and explain how this differs from the traditional investing;
• Own your achievements and disseminate your knowledge on various platforms such as the Impact Cafe of Blue City;
• Possess sound research skills as evidenced in a transparent and systematic collection and analysis of data, reporting of research and findings and critically evaluate the credibility of your research.;
• Demonstrate problem-solving skills in creating a feasible recommendations  for a Impact Investing project;
• Discover  full potential as a human being and as responsible, global citizen who is aware of the boundaries of our planet;
• Act as change-agents for a zero-carbon economy and a safe space for humanity within planetary boundaries

1.       "Damodaran on Valuation: Security Analysis for Investment and Corporate Finance", A.Damodaran. (2006). Willey ISBN: 978-0471751212

2.      "Project Valuation Using Real Options: A Practioner's Guide",
Kodukula, P. & Papudesu, C., 2006, J.Ross Publishing. ISBN: 9781932159431 

3.      Leuhrman.T.(1997) Using APV: A better tool for valuing Operations Harvard Business review may-june 1997:3-10

4.      Ruback, R.S. (2002)  Capital Cash Flows: A Simple Approach to Valuing Risky Cash Flows  Financial Management   summer 2002:5-30.

5.      Perold, A.F. (2004)  The Capital Asset Pricing Model  Journal of Economic Perspectives  18 Number 2, September 2004: 3-24

6.      Cooper, I. and Nyborg K.G. (2007)  Valuing the Debt Tax Shield  Journal of Applied Corporate Finance  19: 50-59

7.      Mason, S.P. (1996). Introduction to Options. Harvard Business School (286-104).

8.      Perold, A.F., & Lee, W. (1995). Options and Put-Call Parity. Harvard Business School.

9.      Chacko, G. Hecht, P., & Sjoman, A. (2006). Note on Forward Contracts and Swaps. Harvard Business School.

10.  Helman, T. (2001). A Note on Valuation of Venture Capital Ideas. Valuation of Venture Capital Deals Note E-95.

11.  Anshuman, V.R., Martin, J., & Titman, S. (2012) An Entrepreneur’s Guide to Understanding the Cost of Venture Capital. Journal of Applied Corporate Finance, 24(3):75-83

12.   Ekskäret Foundation, 29K and The New Division . (2021). Inner Development Goals: Background, method and the IDG framework. Growth that matters, AB.

13.   Sweeney, L. B. (2001). Systems Thinking: A Means to Understanding our Complex World. Waltham: Pegasus Communications.

14.   Meadows, D. H., & Wright, D. (2015). Thinking in systems: A Primer. Chelsea Green Publishing.

15.   Pruyn, P. (2022, May 31). An overview of constructive developmental theory (CDT). An Overview of Constructive Developmental Theory (CDT). Retrieved November 25, 2022, from https://peterpruyn.medium.com/an-overview-of-constructive-developmental-theory-cdt-667f3e015cc1

16.   Reeder, N., Colantonio, A., Loder, J., & Rocyn Jones, G. (2015). Measuring impact in impact investing: An analysis of the predominant strength that is also its greatest weakness. Journal of Sustainable Finance & Investment, 5(3), 136–154. https://doi.org/10.1080/20430795.2015.1063977

17.   Doz, Y., Hillström, E., Kosonen, M., Lähdemäki, J., & Wilson, K. (2017, March 17). Reflections on the "leadership under complexity” workshop. Helsinki; Sitra.

18.   Sitra. (2021). (rep.). Guidelines for Responsible Investment. Helsinki: Sitra.

19.   Institute For Sustainability Leadership. (2016). (rep.). In search of impact: Measuring the full value of capital. . Cambridge.

20.   Institute For Sustainability Leadership. (2019). (rep.). Measuring the full value of capital. Update: Sustainable Investment Framework. Cambridge.

21.   We are pushing the frontier of impact intelligence. The GIIN. (n.d.). Retrieved from https://thegiin.org/

22.   Williams, E. M. (2018, January 25). Cambridge Impact Leadership Model. Cambridge Institute for Sustainability Leadership. Retrieved from https://www.cisl.cam.ac.uk/resources/cisl-frameworks/leadership-hub/cambridge-impact-leadership-model

23.   Fit business - transforming business to thrive in the 21st Century. Future Fit Business. (2022, March 22). Retrieved November 25, 2022, from https://futurefitbusiness.org/

Block 1 = 8 weeks (11 hours per week) + Block 2 = 8 weeks (11 hours per week)

In Block 1 you will have classes for 9 weeks for about 11 hours per week.  The 11 hours per week will be split up into different days and different activities including central lectures, project groups, plenary activities, guest lectures and discussions.

Besides these scheduled hours, your team will also determine how/when to meet to work on your business.

The setup of Block 2 will be the same as for Block 1.

Block 1:

Financial Modelling and Valuation of Impact Investments

• 2 in class assignments (Group)
• Final Assignment (Individual)

Project Impact Investments

• Project Proposal (Group)

Leadership and Professional Transformation

• Interview (Individual)
• Portfolio (Individual)

Block 2:

Financial Derivatives, Private Equity and Venture Capital

• 2 in class assignments (Group)
• Final Assignment (individual)

Project Impact Investments

• Project Presentation (Group)
• Project  Report (Group)

Leadership and Professional Transformation

• Interview (Group)
• Portfolio (Group)

Costs

Books: EUR 150

Visits to clients and company visits: EUR 100

Total cost: approximately EUR 250

 

APPLICATION PROCESS (KOM)

Are you a student from another educational institution and would you like to follow a minor at Rotterdam University of Applied Sciences? If so, you must apply in two steps:

 

Step 1
Register for the minor of your choice via the blue Apply button. You can find this button at the top right of the minor’s page.
Download the learning agreement and complete it.
Submit this learning agreement to the examination board of your study programme.
Once the examination board has granted approval, register for the minor in Step 2 no later than 01-07-2026 at 9:00 a.m.

Step 2
After approval, register via OSIRIS Application of Rotterdam University of Applied Sciences using the link below (first create an account).

https://osiris.hr.nl/osiris_aanmeld_hrprd/Welkom.do?proces=KOM2609&opleiding=MINOR-RBS-VT 00

 

Part of the application process is uploading the following documents:

• The learning agreement, signed by you and by your institution;
• A scan or photo of your passport or ID card.
   

You will be informed by Rotterdam University of Applied Sciences whether your application has been approved.

In OSIRIS Application, you must also upload the Proof of Paid Tuition Fee (BBC) for the academic year in which you wish to follow the minor. This can be done from 01 May 2026 onwards. You can request the BBC from your institution after you have signed or issued an authorization for the payment of the tuition fee for the relevant academic year. You may also choose the option for your institution to send the BBC directly to collegegeld@hr.nl.

You will receive a notification from Rotterdam University of Applied Sciences once your application has been approved.

 

Minor Choice Week | 2–5 March 2026

Online minor information sessions
Attend an online information session for this minor! View the programme and register here.

Minor fair
This minor will be present at the minor fair. Will you join us? View the programme and register here.
Date: Thursday, 5 March 2026
Time: 4:00–7:30 p.m.
Location: Kralingse Zoom