Impact investing is a spectrum. It means different things to different people. And it’s confusing as hell.

From the misconceptions surrounding program-related investments to gauging activity in the venture capital world, we’ve done a good bit of reporting on impact investing from both business and philanthropy perspectives.

Harvard Business Review recently published a piece that aims to “make sense” of impact investing, and though it’s super wonky at times and wanders into the transcendent, it’s chock-full of good educational material and tactical examples.

A heads-up: This piece is geared towards venture capitalists, though foundations might heed its wisdom in their PRI considerations. (It even mentions some of the PRIs made by the Gates Foundation while Center for High Impact Philanthropy fellow Dick Henriques was CFO.)