Evalysis is an impact measurement and management advisory firm.

We help impact investors and grantmakers to describe, measure, and improve their social impact.

We work with private and public foundations, impact funds, family offices, institutional investors, corporations, government departments, development finance institutions, multilateral agencies, social finance intermediaries, and social enterprises.


Build and refine impact strategies and theories of change for programs and portfolios


Develop and test measurement approaches that are robust, appropriate, and useful


Review and assess grants and impact investments, both individually and portfolio-level


Examine trends, best practices, and opportunities for impact measurement and management


Use impact data to improve investee and portfolio-level performance


Strengthen internal and partner capacity and systems to measure and manage for impact

Theory of Change

Design or update a theory of change that describes what impact you are seeking to achieve, define indicators and impact pathways, and describe risks and context.

Construct a process to screen individual investments and the total portfolio against customized impact criteria, to inform decision making and post-investment support.

Review impact measurement and management processes and principles, align with global best practice and standards, and improve how impact data in used for decision making.

Projects and Partners

Impact Measurement and Management for an Impact Investing Fund

Developmental evaluation with a $25M private equity fund focused on technology solutions for ethical corporate supply chains to advance worker rights. Co-led theory of change development; impact due diligence design; impact scoring and portfolio mapping tools; monitoring and learning reporting; and investee capacity support.

Impact Strategy Review for an Impact Investing Portfolio

Acted as a senior technical advisor on an impact strategy audit of the $25M impact portfolio of a leading impact investor, and compared it to good practice from industry impact measurement and management frameworks.

Review of Impact Measurement Frameworks, Tools, Approaches, and Methods

Supported a global field building initiative as a technical expert on impact measurement and evaluation. Identified, reviewed and catalogued over 100 impact measurement standards, methods, tools, and frameworks.

Design and Test the Theory of Change for a Global Impact Investing Initiative

Advised a leading foundation on the development of a $150M global impact investing initiative. Worked with leadership and program staff on the theory of change, assumptions, and indicators. Provided guidance on design, implementation, and evaluation priorities for granting, investment, and partnership strategies.

Strategy and Learning for Field Building in Impact Investing and Impact Measurement

Analyzed industry trends and best practices; provided recommendations for collaboration and market development; and delivered knowledge products and learning sessions with internal teams and external partners.

Developmental Evaluation of a Youth Employment Grantmaking Portfolio

Led the developmental monitoring and evaluation of the $10M youth employment program, including portfolio review and analysis; key-person interviews; theory of change analysis; and grantee/stakeholder convening.

Oxford Impact Measurement Programme

Founding Programme Director of the 5-day executive education programme at the Said Business School at the University Oxford. It is designed to bring clarity to concepts and issues, navigate tools and approaches, and measure and manage for impact in the private, public, and social sectors.

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Karim Harji, Managing Director

Impact Measurement and Evaluation

Advised global impact investors and grantmakers on strategy and implementation; evaluated high-profile programs and portfolios; and well-versed in industry trends and emerging practices.

Impact Investing and Blended Finance

Established the leading impact investment advisory firm in Canada; facilitated strategy and deployment of sectoral and place-based impact investments; and published pioneering market research and commentary.

Thought Leadership and Field Building

Co-lead an executive education programme at the University of Oxford; regular speaker at industry conferences; track record of research, publications, and knowledge sharing.