On May 27, IE University hosted a new edition of the Women Economic Forum Iberoamérica, a key platform for reflecting on leadership, innovation, and economic transformation through impact. Among the sessions held throughout the day, the panel on impact investing stood out, featuring Mercedes Valcárcel, Managing Director of SpainNAB and one of the key figures driving this ecosystem in Spain.
A necessary conversation: investing beyond returns
Under the title “Capital with purpose: investing to build the future,” the panel brought together leaders from the financial, entrepreneurial, and institutional spheres to address an increasingly urgent challenge: how to mobilize capital toward solutions that generate both social and environmental impact, alongside financial returns.
The debate focused on the transition from a traditional view of investment, centered exclusively on financial profitability, to a broader approach, where success is also measured by the ability to generate real transformation.
From SpainNAB, Mercedes Valcárcel, as Managing Director, provided a structural perspective on how this type of capital can become a true lever for systemic change.
The role of SpainNAB: driving a paradigm shift
During the session, key issues were addressed, including the investability of impact-driven projects, the need for scalable models, and the role of the financial system as an enabler of deep transformation.
In this context, Valcárcel’s perspective helped frame the current moment of the ecosystem as a turning point—one in which impact investing is moving beyond its status as a niche to become a real opportunity within the global economy.
Her intervention highlighted the importance of so-called smart capital: capital that not only provides funding, but also strategic support, long-term vision, and the ability to foster partnerships that amplify impact.
The panel was moderated by Marta del Castillo, CEO of Social Nest Foundation, an organization closely linked to promoting social and impact entrepreneurship in Spain and an associate of SpainNAB.
A gender perspective in investment
Another key theme discussed was the need to incorporate a gender perspective into investment. The panel addressed a persistent reality: the underrepresentation of women both in investment decision-making roles and in access to funding.
To tackle this gap, the discussion emphasized the importance of designing concrete solutions—from transforming investment committees to adapting financial instruments that take structural inequalities into account.
The session concluded with a clear message: the most intelligent capital is not the one that delivers the fastest returns, but the one that contributes to building a more sustainable and inclusive future.
Mercedes Valcárcel’s participation in this forum reaffirms SpainNAB’s role as a key player in the evolution of the financial ecosystem toward more responsible models. It also highlights, once again, that impact investing is not just a trend, but a necessity to address the major social and environmental challenges of our time.
