The primary intent of this dissertation is to shed light on impact investing's panorama by examining investments differences between impact investing and standard funds. In particular, the thesis aims to examine the exit strategies undergone by the organization when funded in an impact-backed funding round. Over 45 years, the study looked at investment data from almost 683 PE and VC impact-oriented funds (1975- 2019), representing the sample's 4.7 percentage points of the total PE and VC investors. According to the findings, impact investing funds contribute less than non-impact funds by 13.5 percentage points on average and significantly less in the number of investments performed.