Bullseye! Our approach to understanding impact intensity.

Sep 07 2021 · 2 minute read

We use an impact framework to score each investment we make. Our framework analyses:

The combination of the two scores creates our ‘bullseye score’.

We use a bullseye diagram to show our investors the impact intensity of our portfolio in a quick and accessible way. We aim to drive the impact score toward the centre of the bullseye.

Snowball Bullseye
The Snowball Impact Intensity Bullseye — shows what percentage of our portfolio scores between 0 and 5. Figures accurate for end Q3 2021.

The bullseye score of the portfolio in Q3 2021 is 3.5. Over the last year, the percentage of managers scoring a 4 or 5 has increased; in part driven by an improvement in our managers’ impact practice.

High intensity and lasting impact is very hard to achieve, and we work continuously with our fund managers to increase their own impact over time (and hence their bullseye score). That only 3% of the Snowball portfolio is scored a 5 is not reflective of the impact intensity of the portfolio, but instead the high standards and aspirations we have for impact.

Our bullseye scores:

0 = no consideration of impact

1 = focus on avoiding harm and engagement

2 = impact is mainly a result of business model, may not be intentional or measured

3 = impact is mainly a result of the business model, focus on improving impact

4 = impact is intentional, measured and drives decision making

5 = track record of high intensity, targeted impact leading to continuous improvement.

Each bullseye ring is rounded to the nearest whole number.

We are constantly looking to improve, and therefore the Snowball scoring methodology has evolved over time.


If you have any thoughts about this article or would like to learn more about Snowball, please email us at hello@snowball.im.

Laura Boyle, Head of stakeholder engagement, Snowball
Laura Boyle, Head of stakeholder engagement, Snowball