My journey into impact investing was shaped by my early career experiences.
While working as a chartered accountant at PwC, I also served as CFO at Teach For Japan, where I realised the power of finance in driving social change. This led me to explore how finance could address systemic challenges, bringing me to Japan’s Cabinet Office, where I conducted a global study on impact investment. Through on-site visits and interviews with over 20 institutions worldwide, I saw how the UK had emerged as a leader in impact investing, with Oxford at its intellectual forefront. Determined to deepen my expertise, I pursued an MBA at Oxford University. Now back in Japan, I serve as an Investment Professional at Japan’s first impact VC. Over the past decade, Japan’s impact investment market has grown more than fiftyfold, from JPY 25 billion in 2014 to over JPY 17 trillion in 2024. As this market matures, focus must shift from scale to impact quality and effectiveness.
A deeper understanding of impact
In 2024, I returned to Oxford for the Oxford Impact Measurement Programme, eager to engage with the latest developments in impact measurement methodologies.
University of Oxford’s approach to impact measurement differs significantly from many other programmes. Rather than focusing solely on how to measure impact, it encourages participants to reflect on why impact should be measured in the first place. With countless measurement tools available, understanding the fundamental purpose of measurement is crucial in selecting appropriate methodologies.
One of the programme’s greatest strengths is its structured yet flexible approach, particularly in the way Karim distils complex concepts into clear, applicable insights. His sessions ensure that the programme is valuable to both seasoned professionals and those newly engaging with the field.
Bridging theory and practice
In 2025 I then registered for the Oxford Impact Investing Programme which was driven by a desire to engage with global practitioners and contribute to discussions on Japan’s evolving impact economy.
For years, Japan has taken inspiration from the UK’s pioneering efforts in impact investing, adopting policy tools such as social impact bonds and dormant bank account schemes. Over the past decade, we have integrated many best practices from the UK’s leadership in this space. Yet today, Japan is not merely a recipient of knowledge but is also able to share its own experiences and innovations with the global impact investment community.
A particularly striking moment was learning that Fumi, a 2012 participant of the Oxford Impact Investing Programme, is returning in 2025 as a lecturer to deliver a session on the history of Japan’s impact economy. This exemplifies the programme’s lasting impact, which extends beyond academic learning to fostering a global network of thought leaders and practitioners.
Furthermore, Forbes JAPAN’s 2025 “IMPACT100” feature has highlighted numerous alumni of the Oxford Impact Investing Programme as key figures shaping Japan’s impact economy. This underscores the programme’s role not only as an academic course but as a platform for driving real-world impact, empowering participants to lead meaningful and systemic change.
A defining strength of the Oxford Impact Investing Programme is its faculty. Gayle Peterson embodies transformational leadership, guiding participants beyond technical expertise towards deep introspection and leadership development. Her mentorship is warm yet challenging—encouraging participants to redefine leadership from within.
Meanwhile, Professor Alex Nicholls provides rigorous academic insights, bridging cutting-edge research with practical applications. The programme is further enriched by a diverse array of guest lecturers, offering real-world expertise that cannot be acquired from books or online resources. This blend of academic depth and practitioner insight is what sets the programme apart.
A place where questions matter more than answers
Oxford’s true value lies not only in its academic excellence but in its ability to foster deep inquiry and intellectual curiosity. This is a community built not just within lecture halls but through informal yet profound discussions—over lunch, at the pub, or during reflective walks through Oxford’s historic colleges.
Oxford is known as ‘the city of dreaming spires’, and rightfully so. In a world where immediate solutions often take precedence, Oxford provides a rare space to step back, reflect, and challenge existing paradigms.
At the University of Oxford, one does not simply leave with answers—one departs with questions worthy of a lifetime of pursuit. This is the University’s greatest gift: the ability to frame challenges in ways that demand rigorous thought, sustained inquiry, and an unwavering commitment to impact.
For those considering an Oxford impact programme, I can say with certainty: you will not only gain new insights and frameworks but also join a lifelong community of peers who will challenge, support, and inspire you throughout your journey.
Find out more about the Oxford Impact Investing Programme
Find out more about the Oxford Impact Measurement Programme
