This mid-term performance evaluation examined USAID’s INVEST mechanism, which Agency offices and
missions can buy in to fund finance-related activities. Members of an INVEST-facilitated partner network
can then submit proposals to work on INVEST buy-ins. This report answered three main questions:
1. How has INVEST operationalized the mobilization of private capital approach through its
network of participating firms?
2. How has INVEST captured and validated lessons learned?
3. How has INVEST communicated to USAID and other stakeholders about its mobilization of
private capital approach?
The evaluation team conducted 64 key informant interviews with representatives of USAID, INVEST,
and partner firms that have worked on INVEST activities. The team also reviewed available
documentation and data, conducted an online survey of partner network firms, and conducted two case
studies of buy-ins for the Southern Africa Regional and Vietnam Missions.
The evaluation found that INVEST was valued as administrative and procedural support for USAID
missions and offices to procure technical activities faster than traditional procurement processes. More
than a third of the USAID and partner firm stakeholders reported they had not engaged with any
INVEST learning materials or documents. Communication gaps about the INVEST process created
confusion and distrust among some partner firms and USAID stakeholders.
Evaluation recommendations focused on ways to improve communication and transparency around
INVEST procurement processes; capture, validate, and act on learning; enhance access to and the utility
of communications and technical products; and clarify standards around intellectual property and firm
relationships.
