Telos Impact
Telos Impact is a Brussels-based impact investing and venture philanthropy firm that helps wealthy families and foundations put their money to work for social and environmental good, and runs its own impact funds. Water is a narrow slice of its climate and environmental portfolio. As of 2026 the Leviathan database tracks two water companies it has backed.
Compiled by Antoine Walter, (don't) Waste Water, from official filings and direct intelligence in Leviathan.
The take
Telos Impact was founded in 2015 in Brussels by Marc Flammang, and it sits on the advisory side of the impact world before it sits on the investing side. Its first job is to help families, foundations and institutions deploy their wealth for measurable social and environmental impact, through both venture philanthropy (grant-style giving that is structured and managed like an investment) and impact investing. The firm says it has put more than 150 million euros to work this way and that it is aiming for a billion by 2030.
Telos Impact treats water as a thread inside that broader mandate, not a standalone strategy. In the Leviathan database its water footprint is two Belgian-rooted treatment companies: InOpSys, which builds containerised, mobile units that strip hazardous chemicals out of industrial wastewater, and Cerafiltec, a maker of flat-sheet ceramic membranes used to clean sewage and produce drinking water. Both are classic industrial-water plays, backed alongside regional and strategic co-investors rather than out of a dedicated water vehicle.
Telos Impact runs the part of its book a water newcomer should actually watch through its climate practice, led by Flavie Gayet. She manages the Telos Climate Fund, a closed fund-of-funds (a fund that backs other funds rather than investing directly in companies) that supports a portfolio of European climate managers, and she steers the firm's direct investments into environmental startups. Water saved sits among that fund's headline impact metrics, the clearest signal that water is on the radar even when it is not on the masthead.
Telos Impact reads, for a newcomer, as a generalist impact house with a genuine but thin water edge rather than a water specialist. The interesting question is whether its climate and environmental investing turns those two early water bets into a pattern, or whether water stays a quiet line in a much broader sustainability story. For now the data points to the latter, with room to surprise.
Water Commitment Score
Compiled from official filings, third-party records, and direct intelligence from investors and founders, in Leviathan · recomputed monthly · as of Jun 2026.
How they invest
Portfolio · 2 water companies
Invests alongside
Highlighted = profiled on (don't) Waste Water.
Frequently asked
- What does Telos Impact invest in?
- Telos Impact invests across impact themes including environment, health, education, food and the circular economy, on behalf of families, foundations and institutions. It deploys capital through venture philanthropy and impact funds it manages, including a climate fund-of-funds. Water appears inside its environmental and climate work rather than as a named strategy.
- Is Telos Impact a water investor?
- Telos Impact is a generalist impact firm, not a water specialist. In the Leviathan database its water portfolio is two companies: InOpSys, a Belgian builder of mobile industrial-wastewater treatment units, and Cerafiltec, a ceramic-membrane maker. Both sit inside its broader climate and environmental investing rather than a dedicated water fund.
- Who runs Telos Impact?
- Telos Impact was founded and is led by managing director Marc Flammang, who has spent two decades in venture philanthropy and impact investing. Its climate and environmental investing is run by senior manager Flavie Gayet, who also manages the Telos Climate Fund. The firm is based in Brussels with a Paris office.
- Where is Telos Impact based?
- Telos Impact is headquartered in Brussels, in the Ixelles district, with a second office in Paris. Founded in 2015, it works with clients across Europe and describes itself as an impact advisor and fund manager for families, foundations, companies and public institutions.
- Is Telos Impact the same as Telos Corporation or Telos Energy?
- No. Telos Impact is a Brussels-based impact investing and venture philanthropy firm. It is unrelated to Telos Corporation, the US cybersecurity company, or Telos Energy, the American power-grid software firm. The shared Telos name, Greek for purpose or end goal, is coincidental.