Sarah Cone runs a personal "Fund 0" using only her own money to prove she could find overlooked impact startups and generate top-tier returns before raising institutional capital, then used that four-year track record to launch Social Impact Capital's larger fund. She uses a distinctive "evil acquirer" test when evaluating companies, asking whether the most evil company in the world could strip out the impact mission without destroying the business—if yes, she often passes because the impact isn't truly core to how the company makes money. Sarah Cone runs a personal "Fund 0" using only her own money to prove she could find overlooked impact startups and generate top-tier returns before raising institutional capital, then used that four-year track record to launch Social Impact Capital's larger fund. She uses a distinctive "evil acquirer" test when evaluating companies, asking whether the most evil company in the world could strip out the impact mission without destroying the business—if yes, she often passes because the impact isn't truly core to how the company makes money.