Back in the 1970s and 1980s, venture capital and private equity were a glint in people’s eyes, says Sir Ronald Cohen, founder of Apax Partners, but institutions felt something exciting was about to happen in the space. Today, Cohen – the so called “father of British venture capital” – has a sense of déjà vu, because he feels impact investing is at the same stage in its evolution and the industry is set to take off.