The Record
Outcomes audited, not asserted — since 2028. Verified means Stage D: an evidence pack behind every claim, conservatively attributed, peer-endorsed, archived in the open.
09:14 — evidence pack verified: Waste Nothing · Milestone 3 · De Pijp
Verified success rate · 2032
19%
up from 58% in 2028 — failure 42% → 26%
Days to first capital
3
median · was 34 in 2028
Verified value per €1
€0.79
charitable lane · conservative attribution
Members backing Projects
1.7M
≈ one in three members · was 1.1M in 2028
Launch Promise kept
20%
members at their five-year mark, by their own definition — measured through the annual THRIVE review
The learning loop
92% of new Projects start on a verified playbook
NAVi cites the precedent at setup — the archive is working capital. Five years ago: 31%. SC&F's rescue-route kit alone has been cited in 214 Project setups.
The candour grid — six of fifteen domains
grey 2028 · indigo 2032 · volume-weighted aggregate ≈ 74%
Sustainability Climate & Food
81% ↑66
Health & Wellness
78% ↑61
Learning & Education
77% ↑62
Human Development
72% ↑55
Business & Social Economics
69% ↑54
Government Politics & Public Sector
52% ↑38
The spread is deliberate candour: systems and policy work is harder and slower — and the record says so, in public.
By Project type
76%
Type 1 — Member-owned — fastest to fund; median cheque smallest
68%
Type 2 — third-party collaborations — largest capital; UP BusinessBank lane
79%
Type 3 — methodology & replication — replication kits lift success where applied
By Circle of origin
73%
ThemedCircles · ~54% of originations — highest volume
71%
BrandedCircles · ~28% — largest median Project size; strongest Type 2
77%
LocalCircles · ~18% — highest completion velocity and replication uptake — since 2028 (M27 post-funding launch)
The capital the record moves · 2032
≈ €6.3B this year across four rails — all reading the same evidence packs
Member crowdfunding & microloans
€1.9B
from 8.9M members — the widest rail there is
ICV Igniter Fund
€310M
38,000 Projects backed · median €6,500 · charitable + for-profit
ICV Amplifier Fund
€720M
4,100 Projects scaled · median €140,000 · external LP co-investment ≈ 2.6× UP Ventures' own capital
UP BusinessBank
€3.4B
institutional Project finance — active since 2029 (late-Y3 BaaS activation, canon)
The record is why the capital moves: 68% of peer-endorsed Projects now reach funding — 41% in 2028. Verified evidence is the densest, cheapest diligence there is.
What didn't verify
26% of 2032's Projects did not verify. Every one is published.
~38%
Capacity, not concept
teams under-resourced past Milestone 2 — the commonest ending
~27%
Partner dependencies
third-party commitments that moved after funding
~19%
Measurement gaps
outcomes real but unattributable at the Stage-D standard — counted as failure anyway
Post-mortems feed the playbooks: 41% of this year's replication kits cite a failed antecedent. An institution that hides its failures learns nothing — the archive is the point.
Anatomy of one verification — Waste Nothing · Milestone 3
KPI feed
live from the work
1,240 households · 18.4 t · 62 volunteers · 86% on-time
Evidence pack
files itself
lands with the Stage-gate pack — nothing to chase
Peer quorum
endorsed
dense signals at low diligence cost
Stage-gate
15 Sep 2032
checkpoint · last vote 94%
Published
joins the record
and the Library — citable precedent
Every figure on this page traces to its evidence pack. We counted operations first — the outcomes followed.