In 2020, the investments in impact businesses in Brazil totaled at least 1 billion reais. In all, 38 managers were active with impact investments. This data is from research released in February by Aspen Networks Development Entrepreneurs (ANDE), in partnership with the Aliança por Investimentos e Negócios de Impacto, the Institute for Climate and Society, the Boticário Group Foundation and with support from Wright Capital. Pipe.Labo performed the coordination and the analysis. The report also offers an overview of where and how the capital is being allocated, identifying the challenges facing the ecosystem, as well as addressing subjects such as gender equity, risk assessment and climate opportunities.