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VIPC’s Virginia Venture Partners Invests in Rho Impact to Expand Impact Platform Capabilities and Customer Reach

Technology-driven solution empowering every organization to understand their potential and make a meaningful impact.

Forecasting and planning software like ours is becoming necessary for both the finance industry and businesses wanting to showcase their sustainability efforts,.”
— Gilman Callsen, Rho Impact Founder and CEO

RICHMOND, VIRGINIA, UNITED STATES, December 12, 2023 / -- The Virginia Innovation Partnership Corporation (VIPC) today announced that Virginia Venture Partners (VVP), its equity investment program, has invested in Rho Impact, Inc. Headquartered in Charlottesville, Va., Rho Impact develops forecasting tools to evaluate the potential impact of organizations and investments into climate technologies, particularly as it relates to where such technologies can reduce greenhouse gas (GHG) emissions, waste, water usage, and other impact areas.

The global market for sustainability and environmental, social, and governance (ESG) planning, implementation, and reporting services is expected to grow to $50B over the next three years. Whether it be climate risk, corporate impact strategy, or other ESG initiatives, Rho Impact helps organizations of all sizes and across all industries address complex challenges in order to make a purposeful difference and improve or sustain their reputation and financial goals. The company simplifies the forecasting, tracking, and reporting processes to allow these organizations to achieve the social and environmental impact they’re capable of and that society needs.

“As climate impact becomes a more prominent part of the investment decision process, forecasting and planning software like ours is becoming necessary for both the finance industry and businesses wanting to showcase their sustainability efforts,” said Rho Impact Founder and CEO Gilman Callsen. “Partnering with VIPC on this raise allows us to focus on developing core product features and attract new customers through strengthened marketing efforts. We appreciate the guidance and mentorship offered by the VVP team as we scale.”

Rho Impact’s platform guides organizations through each critical step of planning, tracking, and reporting their impact, ESG strategy, and outcomes, enabling them to accelerate impact strategies, manage ESG risks and opportunities, and respond to stakeholder and regulatory requirements. By making it easy and demonstrating results, Rho Impact is empowering every organization to make a socially- and environmentally-responsible impact.

“As investors and companies increasingly lean into the sustainability thesis, merely reporting on ESG goals is insufficient. Engaging in a data-driven approach to ESG modeling, planning, and forecasting is as important as execution,” said Alex Euler, Senior Investment Director at VIPC’s Virginia Venture Partners. “We are proud to support Rho Impact as they help their clients achieve important ESG goals.”

VIPC’s investment in Rho Impact draws upon funds made available through the U.S. Treasury Department State Small Business Credit Initiative (SSBCI) Program.

About Rho Impact
Rho Impact's data and models contextualize the environmental impact of climate technologies using software and expert services. The company's tools help investors and companies meet sustainability goals, navigate evolving ESG requirements, and make confident, auditable, impact-informed decisions. Trusted globally, Rho Impact empowers every organization to make an impact.

About Virginia Innovation Partnership Corporation (VIPC)
VIPC: Connecting innovators with opportunities. As the nonprofit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the commercialization and seed stage economic development driver in the Commonwealth that leads funding, infrastructure, and policy initiatives to support Virginia's innovators, entrepreneurs, startups, and market development strategies. VIPC collaborates with local, regional, state, and federal partners to support the expansion and diversification of Virginia’s economy.

Programs include: Virginia Venture Partners (VVP) | VVP Fund of Funds (SSBCI) | Virginia Founders Fund (VFF) | Commonwealth Commercialization Fund (CCF) | Petersburg Founders Fund (PFF) | Smart Communities | The Virginia Smart Community Testbed | The Virginia Unmanned Systems Center | Virginia Advanced Air Mobility Alliance (VAAMA) | The Public Safety Innovation Center | Entrepreneurial Ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University Partnerships | Startup Company Mentoring & Engagement. For more information, please visit Follow VIPC on Facebook, X (formerly Twitter), and LinkedIn.

About Virginia Venture Partners (VVP)
Virginia Venture Partners is the equity investment program of VIPC that makes seed-stage equity investments in Virginia-based technology, clean energy, and life science companies with a high potential for achieving rapid growth and generating a significant economic return for entrepreneurs, co-investors, and the Commonwealth of Virginia. Since its inception in 2005, Virginia Venture Partners has deployed $51.7 million in capital across more than 305 portfolio companies, including 17 companies in designated Opportunity Zones. Virginia Venture Partners’ investment decisions are guided by the Virginia Venture Partners Investment Advisory Board (IAB). This independent, third-party panel has drawn from the expertise of leading regional entrepreneurs, angel, and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit the VVP pages from

Angela Costello, Vice President of Communications
Virginia Innovation Partnership Corporation (VIPC)
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