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MySocialGoodNews is dedicated to sharing news about
social entrepreneurship, impact investing, philanthropy
and corporate social responsibility.

Crowdfunding for Social Good

Devin D. Thorpe

Devin Thorpe

Impact Investing

This category includes articles about people, firms and foundations that invest in social good by investing in social entrepreneurs, social impact or pay-for-success bonds, etc.

Results Announced for 2017 Dow Jones Sustainability Indices Review

Press Release – LONDON, NEW YORK, ZURICH, SEPTEMBER 7, 2017: S&P Dow Jones Indices (S&P DJI), one of the world’s leading index providers, and RobecoSAM, an investment specialist focused exclusively on Sustainability Investing (SI), today announced the results of the annual Dow Jones Sustainability Indices (DJSI) review.

The three largest additions and deletions (by free-float market capitalization) to the DJSI World this year include:

Additions: Samsung Electronics Co., Ltd., British American Tobacco p.l.c., ASML Holding N.V.
Deletions: Enbridge Inc.1, Reckitt Benckiser Group plc, Rio Tinto plc 2
1 Still member of DJSI North America
2 Still member of DJSI Europe

The new component lists for the DJSI will be published on the RobecoSAM website on Monday, September 11, 2017. All changes are effective on Monday, September 18, 2017.

Launched in 1999, the DJSI World represents the gold standard for corporate sustainability and is the first global index to track the leading sustainability-driven companies based on RobecoSAM’s analysis of financially material Environmental, Social, and Governance (ESG) factors and S&P DJI’s robust index methodology. Every year, RobecoSAM assesses the world’s largest companies via its Corporate Sustainability Assessment (CSA), which uses a consistent, rules-based methodology to convert an average of 600 data points per company into one overall score. This score determines inclusion in the DJSI.

Manjit Jus, Head of Sustainability Application & Operations, RobecoSAM: “Being a pioneer and thought leader in Sustainability Investing for over 20 years, we understand the right questions to ask in our CSA in terms of financially material sustainability aspects within the corporate world. This is what firms appreciate about the CSA. It brings them a big step ahead in terms of Corporate Sustainability and with this – a big step ahead of their competitors – getting a coveted spot in the DJSI makes sure they continue to play in the premier league of companies.”

David Blitzer, Managing Director and Chairman of the Index Committee, S&P Dow Jones Indices: “Many of the events witnessed so far in 2017 make it even more important for corporations around the globe to recognize sustainability, establish policies and manage their businesses in ways that support and increase sustainability of the global environment and the world’s leading businesses. The DJSI family provide a tool for investors to create asset allocations that can further sustainability.”

Ahead of the Curve

RobecoSAM prides itself on the development of leading ESG assessment criteria to achieve deeper insights into companies’ sustainability practices. Tax Strategy and Materiality criteria were, for example, added to the CSA in 2014 and 2016, respectively, anticipating investors’ growing interest in them.

This year, RobecoSAM’s CSA assessed Policy Influence for the first time to learn more about companies’ lobbying activities, and expanded the Impact Measurement & Valuation criteria to nearly all industries. Preliminary analysis of the CSA data set for these criteria reveals:

Companies spend on policy influence

RobecoSAM perceives Policy Influence as a material issue for investors that deserves more attention from ESG and investment analysts. In situations where the revenues of public companies are larger than the GDPs of the countries in which they operate these companies may exert tremendous influence over the local political and legislative process. This creates risks and opportunities which are critical inputs into investment decisions.

Analysis of the CSA dataset reveals that companies in the DJSI assessment universe spend an average of 0.02% of total sales annually on policy influence activities (median spending is 0.01% of total sales). Another observation is that companies are hesitant to report on Policy Influence spend that goes beyond legal obligation.

Companies face difficulty assessing financial impacts

In light of the Sustainable Development Goals (SDGs) as set by the United Nations Development Programme in 2016, companies, governments and investors alike want to understand both the positive and negative externalities inherent in companies’ business models and how their products, services and operations contribute to, or detract from, the achievement of the SDGs.

Analysis of the CSA data set shows that while the vast majority (70%) of companies are aware of the need to understand these types of environmental and social profits and losses, less than 10% of companies actually have a viable valuation approach in place today that provides detailed insights into these potential financial impacts.


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The World’s First “Humanitarian Impact Bond” Launched To Transform Financing Of Aid In Conflict-Hit Countries

  • “Humanitarian Impact Bond” set up by the International Committee of the Red Cross (ICRC) with an outcome value of more than 26 million CHF for three physical rehabilitation centres in Africa
  • New investment model to bridge gap between increasing complexities of humanitarian crises and conflicts and the pressure on existing funds
  • Social Investors (New Re, part of Munich Re (Group), amongst others) have provided private capital upfront to enable five year payment-by-results programme
  • The Outcome Funders (governments of Belgium, Switzerland, Italy, the UK and ”la Caixa” Foundation) of the project will pay if scheme performs
  • In addition to its ongoing ICRC Corporate Support Group commitment, Co-Sponsor Bank Lombard Odier provided expertise to help incubate the project, and then helped bring the transaction to market

Press Release – Geneva, 08 September 2017: The International Committee of the Red Cross (ICRC) has created the world’s first “Humanitarian Impact Bond” to help transform the way vital services for people with disabilities are financed in conflict-hit countries.

The capital raised – 26 million CHF – will be used to build and run three new physical rehabilitation centres in Africa (Nigeria, Mali and Democratic Republic of Congo) over a five year period, providing services for thousands of people. The payment-by-results programme also includes the necessary training for the new staff as well as the testing and implementation of new efficiency initiatives.

The innovative funding mechanism has been created to encourage social investment from the private sector, to support the ICRC’s health programmes. A rising number of conflicts as well as a growing annual budget of the ICRC are the driving forces for this innovative funding model.

Of the 90 million people with physical disabilities who need a mobility device worldwide, only 10%, on average, have access to adequate physical rehabilitation services, leading to both social and economic exclusion.

The ICRC is the world’s largest provider of physical rehabilitation services in developing and fragile countries. In 2016, the Physical Rehabilitation Programme operated 139 projects in 34 countries, helping almost 330,000 people with physiotherapy and mobility devices including wheelchairs, artificial limbs and braces.

Peter Maurer, the ICRC’s president, said:

“Today’s humanitarian challenges are immense, causing suffering for many millions of men, women and children around the world. This funding instrument is a radical, innovative but at the same time, logical step for the ICRC. It is an opportunity not only to modernise the existing model for humanitarian action, but to test a new economic model, designed to better support people in need.

“We hope that once the pilot project is proven, it will demonstrate that non-traditional financing models can work. There is great potential for investments that are built around improving the social, environmental and economic conditions so that humanitarian action advances in impact, effectiveness and scale in ways never seen before.”

How it works

The “Humanitarian Impact Bond” is legally known as the Program for Humanitarian Impact Investment. It is not a “bond” but a private placement. The initial payments by ‘Social Investors’ – (New Re, part of Munich Re Group) and others identified by co-sponsor Bank Lombard Odier – enable the ICRC to run the activities at each rehabilitation centre and hence expand the ICRC’s Physical Rehabilitation Programme (PRP).

At the end of the 5th year, ‘Outcome Funders’ – governments of Belgium, Switzerland, Italy, the UK and ”la Caixa” Foundation – will pay the ICRC according to the results achieved. These funds will in turn be used to pay back the social investors partially, in full or with an additional return, depending on how well the ICRC performs in terms of the efficiency of the new centres.

Independent auditors will verify the ICRC’s reported efficiency in the three new centres. The efficiency – the ratio of how many people receive mobility devices per physical rehabilitation professional – is compared to existing centres. If above the benchmark, the social investor will receive its initial investment plus an annual return. If the performance of the new centres is, however, below the benchmark, then it will lose a certain amount of the initial investment.


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US SIF Foundation Releases Enhanced “Fundamentals Of Sustainable And Impact Investment” Online Training Course

Press Release – WASHINGTON, D.C., September 6, 2017 – The US SIF Foundation’s Center for Sustainable Investment Education has launched an updated version of its online course, the Fundamentals of Sustainable and Impact Investment. This course provides financial advisors and other financial professionals with a unique blend of instruction and scenario learning that explains how to talk about sustainable, responsible and impact investing (SRI) with clients, incorporate SRI into investment portfolios and understand the latest trends and research.

Now through the end of September, the course will be offered at a promotional rate of $100 for US SIF members and $150 for non-members by following the prompts at www.ussif.org/courses.

Lisa Woll, CEO of the US SIF Foundation said, “We are delighted to launch the updated Fundamentals of Sustainable and Impact Investment. Research and practical experience tell us that many financial professionals want to know more about sustainable and impact investing, but do not have the tools at their disposal to obtain this expertise. The Fundamentals course allows financial professionals to understand and communicate about sustainable and impact investing options and to be familiar with current trends and research in order to best serve their clients.”

“We applaud the US SIF Foundation for their commitment to training and education in the impact investing arena, especially as asset managers continue to expand their platforms,” said Kirstin Hill, Managing Director, Strategic Performance Executive for Merrill Lynch Wealth Management. “Client demand to align investments with personal values has never been greater, and expanded advisor awareness and understanding is critical to meeting that demand.”

George Gay, CFA, AIF and the Chief Executive of First Affirmative Financial Network (FAFN) said, “FAFN has provided sustainable and responsible mutual fund and model portfolio strategies to a network of advisors since 1988. To meet expanding demand, there must be a corresponding growth in the number of financial professionals with expertise in sustainable and impact investment. We welcome the updated Fundamentals of Sustainable and Impact Investment course because it provides practitioners with the on-ramp to SRI.”

The Fundamentals course is more comprehensive and user-friendly with an enhanced interface accessible on all browsers and devices. It features fresh and appealing infographics updated with the latest research on the growth of sustainable and impact investing in the United States and around the world. Users will also have access to conclusions of the latest meta-studies of academic and industry literature showing the links between environmental, social and governance (ESG) factors and financial performance.

The course offers four modules covering key aspects of sustainable and impact investment:

  • Module I: An Overview of Sustainable, Responsible and Impact Investing
  • Module II: Approaches to ESG, SRI Portfolio Construction Considerations and Shareowner Advocacy
  • Module III: Performance Studies, Fiduciary Standards and Global Trends
  • Module IV: Communicating your SRI Expertise with Clients

Fundamentals of Sustainable and Impact Investment qualifies for three CFP® Board, CFA Institute, CIMA®, CIMC® and CPWA® continuing education credits.

The US SIF Foundation also offers live versions of the course several times a year. The next opportunity is in San Diego on November 1. More information can be found at www.ussif.org/courses.


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Tech Coast Angels Tops PitchBook’s List of Southern California VC Investors

Press Release – IRVINE, Calif. – August 29, 2017 — Tech Coast Angels (TCA), one of the largest and most active angel networks in the world, today announced that PitchBook, an independent data provider specializing in venture capital, private equity and M&A, had analyzed the Southern California investment landscape, and listed the angel network as the top VC investor for all early-stage investments in the region.

In fact, the PitchBook data shows that TCA led the field against other angel networks and VC firms in all categories: number of investments in five years (46), the number of investments in the last six months (7), the number of investments in the last 12 months (12), and the number of investments in the last two years (26).

“This information reaffirms our historical performance and steadfast commitment to continue building and supporting a strong startup ecosystem in Southern California, where nearly all of our network’s angel members live and work,” said Jeff Draa, chairman of Tech Coast Angels. “While investing in great companies anywhere, regardless of location, is at the core of what we do, Southern California is our home and remains the heart of who we are.”

According to PitchBook, capital invested in young companies in Southern California is on an upswing since the beginning of 2015, with 988 VC deals completed in the region by 1,069 individual investors. For the report published in July 2017, see https://pitchbook.com/newsletter/the-8-most-active-vc-investors-in-southern-california

About Tech Coast Angels:

Tech Coast Angels (TCA) is one of the largest and most active angel investor networks in the nation, and a leading source of funding for seed-stage and early-stage companies across all industries in Southern California. TCA members are accredited investors who individually invest in startup companies, and as a group, TCA has invested up to $6M in a single company. The companies TCA invest in go through well-structured, transparent, and time efficient screening and due diligence. TCA members are themselves founders and executive level business leaders who have extensive knowledge in the investment process and world-class business practices. TCA members thus provide companies with more than just capital; they also contribute counsel, mentoring and access to an extensive network of investors, customers, strategic partners and management.

TCA is a catalyst in the growth of the thriving Southern California entrepreneurial ecosystem of innovation, funding mostly emerging technologies and life science companies. The most recent Halo Report rated TCA as #2 nationally in a number of funded deals. A recent analysis by CB Insights ranked TCA #1 out of 370 angel groups on “Network Centrality” and #5 overall in “Investor Mosaic.” Since its founding in 1997, TCA has invested about $200 million in more than 345 companies and has helped attract more than $1.5 billion in additional capital/follow-on rounds, mostly from venture capital firms. For more information, please visit www.techcoastangels.com.


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Turner Impact Capital Launches Healthcare Investment Initiative Focused on Improving Access to High-Quality Care in Underserved Communities

The Turner Healthcare Facilities Fund is initially positioned to invest up to $100 million in community-serving healthcare facilities, beginning with a patient-centered senior care center in St. Petersburg, Florida

Press Release – August 23, 2017 – LOS ANGELES–(BUSINESS WIRE)–Turner Impact Capital, one of the nation’s largest social impact investment firms, has launched a new investment initiative to address the large and growing need for community-serving healthcare facilities that can improve access to quality care, reduce costs and ultimately improve health outcomes for residents of low- and moderate-income urban communities throughout the U.S.

The Turner Healthcare Facilities Fund will invest in and develop high-quality medical facilities for proven healthcare providers in communities with underserved patient populations. Initially, the fund is positioned to invest up to $100 million in facilities focused on primary care, transitional care, ambulatory care and other specialties, while generating market-rate financial returns for investors.

The fund’s first investments will be in facilities developed for Dedicated Senior Medical Centers, a family-owned primary and specialty care practice operated by ChenMed, an innovative Florida-based physician practice that brings concierge-style medicine and improved health outcomes to low- and moderate-income seniors. The first Turner-funded center, opening this month, is an adaptive re-use of a 13,000-square-foot former retail space in St. Petersburg, FL. Additional sites financed and developed by the fund are slated to open next year in the Tampa/St. Petersburg metropolitan area, and elsewhere in Florida.

The Turner fund is driven by a number of long-term trends in the U.S. healthcare industry, including the ongoing transition from a fee-for-service payment model – focused on treating illness – to a value-based payment model focused on keeping patients healthy. Preventative care lowers costs and increases demand for community-based facilities, such as primary care clinics and ambulatory surgery centers.

Another of the fund’s key drivers is the rapid aging of the nation’s population. The U.S. population over 65 years old will increase by 70 percent by 2030, from approximately 40 million to nearly 73 million. This cohort is more likely to have one or more chronic medical conditions and proximate preventative care facilities are critical to the effective management of these conditions.

“The United States spends more than any other nation on healthcare, yet we rank in the bottom 25 percent of developed nations in key outcomes such as life expectancy and infant mortality,” said Bobby Turner, CEO of Turner Impact Capital. “We can do better. The Turner Healthcare Facilities Fund is a sustainable and scalable solution to ensure that communities in need can access top-quality healthcare more conveniently and affordably.”

Harnessing the Turner team’s extensive real estate experience, the fund will deliver resources and expertise to providers like ChenMed, who have proven track records of financial and clinical success. By enhancing the quality and convenience of care, the facilities that Turner develops will reduce the troubling disparities in health outcomes based on the income, ethnicity and geography of patients.

“Low-income individuals and people of color often lack access to care, receive poorer quality care, and experience worse health outcomes than the general population,” said Dan Millman, Principal and Chief Operating Officer for Turner Impact Capital. “By developing top-quality healthcare facilities directly where they are needed, we can have a measurable impact in reducing these disparities and improving health and patient satisfaction in a meaningful way. This is exactly the approach ChenMed is taking.”

ChenMed’s unique approach consistently provides affordable care and a superior experience for patients. ChenMed primary care physicians focus on prevention, early interventions, patient behavior modification, and practical solutions. ChenMed physicians earn trust by being highly accessible and accountable to the seniors they serve. In addition to encouraging patient walk-in appointments when needed, ChenMed makes it easy for patients to see specialist doctors; fill prescriptions on-site; get timely labs and imaging on-site; and access courtesy transportation.

“ChenMed is excited to work with Turner Impact Capital to develop more of our convenient, patient-centered medical centers for seniors across the U.S.,” said Christopher Chen, M.D., ChenMed Chief Executive Officer. “Turner Impact Capital is a natural partner for us. We are both mission-driven organizations committed to improving access to high-quality healthcare where it’s needed most.”

Dr. Chen added that the strategic partnership with Turner offers a unique opportunity to change the dynamics of U.S. healthcare. “While the industry focuses investment on serving higher-income patients with expensive tertiary care, there is a real need to help at-risk seniors in neighborhoods across America. As an industry leader in value-based care, we salute Turner Impact Capital for helping us transform healthcare for the neediest populations.”

Dedicated to generating “profits with a purpose,” Turner Impact Capital is an acknowledged leader and innovator in the growing field of social impact investing – an investment approach that takes into account two goals: generating positive, risk-adjusted financial returns and creating purposeful, measurable, and positive social and environmental impact through those investments. Founded in 2014, the firm is on course to surpass $2.5 billion in investment potential to address a multitude of challenges facing urban neighborhoods while delivering superior risk-adjusted returns for its investors.

In addition to healthcare, Turner Impact Capital is focused on two complementary investment strategies to help address some of the country’s most pervasive social issues through real estate infrastructure-related solutions. The firm’s targeted education strategy – the Turner-Agassi Charter School Facilities Fund, a partnership with tennis legend Andre Agassi – seeks to meet the growing demand for quality charter school facilities, improving the educational achievement and life outcomes for underserved students. The firm’s housing strategy – the Turner Multifamily Impact Fund – is dedicated to preserving housing affordability for working individuals and families by acquiring, preserving and enriching workforce housing communities in urban areas. Basketball star Chris Paul and actress Eva Longoria both serve as investors and ambassadors for the housing fund.

About Turner Impact Capital

Turner Impact Capital is an investment management firm based in Los Angeles focused on creating sustainable solutions for many of today’s societal problems by developing and investing in community-enriching infrastructure in densely-populated, underserved communities. The firm seeks to generate superior risk-adjusted financial returns by investing in markets with large existing supply/demand mismatches of relevant community infrastructure (i.e. workforce housing, public schools and community-serving healthcare facilities) and a lack of institutional capital. The firm seeks “profits with a purpose,” recognizing the interdependence between the two and the central role that improving property and the lives of people can play in achieving superior risk-adjusted returns. The Turner Impact Capital leadership team has over 100 years of relevant experience in facilitating more than $6 billion of socially impactful and environmentally responsible real estate investments over the past two decades.

Turner Impact Capital seeks profits with a purpose. Learn more at: www.turnerimpact.com or @turnerimpact on Twitter.

About ChenMed

For seniors most in need of care, high-quality health care is too often beyond reach. ChenMed was founded to bring concierge-style medicine – and better health outcomes – to the neediest populations. ChenMed serves seniors with low-to-moderate incomes, most managing multiple chronic conditions, in 10 U.S. markets in six states. ChenMed’s goal is to improve health outcomes and create value for patients, physicians, and the health care system. To do that, ChenMed relies on innovative technology and a talented and resourceful team of providers. Founded by Dr. James Chen, a Taiwanese immigrant and cancer survivor, the company provides unrivaled care to seniors – particularly those enrolled in a broad range of Medicare Advantage plans in Florida, Georgia, Illinois, Louisiana, Kentucky, and Virginia.

Dedicated Senior Medical Center patients enjoy industry-leading access to their physicians, and more personalized medical care. The popular Florida-based medical practice with two centers in Lakeland, and one in East Tampa, effectively provides concierge-type medical care with primary care physicians being supported in center by cardiologists, podiatrists, and other specialist doctors. Dedicated is seeing patients at its new Clearwater and St. Petersburg locations beginning in August 2017.


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Shearman & Sterling and Hogan Lovells receive the 2017 IIX Trailblazer Award for their Commitment to Impact Investing

Press Release – SINGAPORE – August 25th, 2017 – Law firms, Shearman & Sterling and Hogan Lovells, received the 2017 IIX Trailblazer Award at the 2nd annual Impact Investment Trailblazer Showcase for their commitment to redefine finance and generate social impact in the global community.

Shearman & Sterling and Hogan Lovells both boldly entered into unchartered territory to support Impact Investment Exchange (IIX) in constructing the first-of-its-kind Women’s Livelihood Bond. The two companies offered their time and talents for hundreds of pro bono hours to bring the first listed bond in the impact investing space to fruition. IIX applauds both firms for their active leadership in the impact investing ecosystem and their determination to venture into new territory and support innovative finance.

“Shearman & Sterling are very pleased to have been able to play a part in helping IIX realize the ground-breaking Women’s Livelihood Bond. This was the result of years of hard work, and one which allowed us to bring to bear our cross-border legal expertise and experience in advising on complex new financing structures, on a pro bono project with meaningful social impact, which was very gratifying – particularly given the hope that this will create a platform which can be used to channel ordinary investors into ventures that have a wide range of social benefits” said Alfred Ng, a Counsel at Shearman & Sterling.

Accepting the award on behalf of Hogan Lovells, Andy Ferris, a Partner at the firm, stated, “The Hogan Lovells team is delighted to receive the 2017 IIX Trailblazer Award. Our thanks go to the IIX team for inviting us to be part of the Women’s Livelihood Bond project. This ground-breaking transaction, a world first, is one we hope will act as a blueprint for future social impact investment projects. The innovation shown by IIX coupled with the pro bono and citizenship commitment of Hogan Lovells has, we hope, made a real change in the lives of women across Southeast Asia.”

The companies were presented the 2017 IIX Trailblazer Award at the Impact Investment Trailblazer Showcase, an event celebrating leaders and trends at the frontier of innovation in the impact investment space. This year’s showcase, hosted by IIX in partnership with Bank of America Merrill Lynch, brought together over 100 key players from the public, private and philanthropic sectors to discuss financing climate resilience in Asia and showcase three cutting-edge, climate-focused impact enterprises from across the region.

Robert Kraybill, Managing Director of IIX, expressed, “Shearman & Sterling and Hogan Lovells were a vital partner in the construction of the Women’s Livelihood Bond and stand as a testament to the active participation of diverse actors from across sectors that is needed to drive progress in impact investing.”

About IIX

IIX is a Singapore-based impact enterprise that bridges the gap between finance and development, carving out a third space for social and environmental solutions by unlocking investment capital. As a pioneer of impact investing, IIX builds pathways to connect the Wall Streets of the world with the backstreets of underserved communities. IIX platforms and innovative financial products enable impact enterprises to accelerate their business and scale their positive impact, while pushing the impact investing space from the margins to the mainstream. To date, the work of IIX has spanned 20 countries and continues to expand with the mission of unlocking US$5.6 billion of impact investment capital, impacting 300 million lives by 2022.


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IIX works with ATEC Biodigesters to raise Series-A investment, bringing Australian and French investors together into the Impact Investment market in Asia

Press Release – August 18th, 2017 — ATEC Biodigesters (ATEC), an Australian-Cambodian Social Enterprise has raised US$700,000 in a Series-A equity round to expand its operations in Cambodia as well as to explore other international opportunities in the household waste-to-energy market. The investment was made by a consortium of investors, led by Small Giants (Australia) and consisting of Fondation Ensemble (France), ENGIE Rassembleurs d’Energies (France) and one other private Australian investor. The investment round has then been matched with a further €250,000 in results-based-financing by EEP Mekong, a Government of Finland initiative.

“Clean energy solutions that utilise natural systems principles to unlock the inherent energy in our waste streams have the potential to transform the way we power homes across the world”, says Dan Fitzgerald, Chief Investment Officer for Small Giants, an Australian family office devoted to investing 100% of their resources for impact. “The world needs innovative, replicable technologies in the clean energy sector, and we believe ATEC is at the leading edge both in Cambodia and internationally.”

ATEC’s unique household biodigester technology was founded and developed through a partnership of two Australian non-profits working in Cambodia, Engineers Without Borders Australia and Live and Learn Environmental Education, for specific application in seasonally-flooded countries such as Cambodia, Myanmar and Indonesia. By installing a biodigester system, families in rural Cambodia utilize gas as a source of reliable and free energy, replacing traditional wood-burning cook stoves with a cleaner, healthier, and eco-friendly alternative. The system also produces a high-quality organic fertilizer that increases crop yield and can also be used as a substitute for chemical fertilizer. Combining these benefits, an average rural Cambodian family can save $260 per year, a short video on ATEC’s technology can be seen here.

“Three years ago we pitched our concept to our seed funders Google & SNV, who were willing to take a risk with us to see if we could make this technology viable,” says Ben Jeffreys, CEO of ATEC, “to now have the technology validated with over 250 units in the ground and this fantastic investor group on-board, it’s an amazing step forward in bringing this high-impact technology to those who needs it most”.

ATEC raised investment with support from Impact Investment Exchange (IIX) through the award-winning ACTS (Acceleration for Capacity-building and Technical Services) program sponsored by USAID. The program supports Impact Enterprises from across the region with technical assistance and an impact assessment, along with support throughout the capital raise process.

“ATEC Biodigesters is an innovative company with the potential to create immense impact through the dissemination of its technology. IIX was honored to support ATEC through the IIX ACTS program and we are incredibly excited to see investors come together from Australia and France,” said Robert Kraybill, Managing Director at IIX.

About IIX: IIX is a Singapore-based impact enterprise that bridges the gap between finance and development, carving out a third space for social and environmental solutions by unlocking investment capital. As a pioneer of impact investing, IIX builds pathways to connect the Wall Streets of the world with the backstreets of underserved communities. IIX platforms and innovative financial products enable impact enterprises to accelerate their business and scale their positive impact, while pushing the impact investing space from the margins to the mainstream. IIX operates Impact Partners, a private platform that connects Impact Investors with a select group of pre-screened Impact Enterprises seeking investment capital. To date, the work of IIX has spanned 20 countries and continues to expand with the mission of unlocking US$1billion of impact investment capital, impacting 100 million lives by 2025.

About ATEC: ATEC* Biodigesters is a new social enterprise that produces, sells and distributes a custom-manufactured 3.25m3 biodigester design manufactured in Phnom Penh. The ATEC Biodigester is a rotor-moulded unit designed for the challenging environments of rural farmers. To date over 300 units have been sold within Cambodia within Cambodia, providing renewable gas for cooking, 20 tons of organic fertilizer per year, and saving the average rural family US$5,850 over the product lifetime.


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Impact Community Capital Names Michael Lohmeier As Chief Investment Officer; Matthew Berg As Senior Vice President & Counsel

New Appointments to Senior Management Team Will Support Company’s Expansive Five-Year Impact Investing Growth Strategy

Press Release – San Francisco, CA (August 16, 2017) – Impact Community Capital (ICC) announced today the appointment of two new additions to its senior management team: Michael Lohmeier, Chief Investment Officer and Matthew Berg, Senior Vice President & Counsel. Both Lohmeier and Berg will report to President and CEO Jeff Brenner, and will be key players in bolstering ICC’s expansive five-year impact investing growth strategy.

Established in 1998, ICC has provided nearly $1.5 billion in financing directed to benefit low-income families and communities. Projects include affordable multifamily housing, community healthcare facilities, childcare centers and other community facilities serving families and communities in 38 states plus the District of Columbia. ICC was founded by a consortium of insurance companies to facilitate investments in projects that specifically benefit low-income families and communities.

“I am excited to have two high-quality professionals with the investing expertise and commitment to impact investing that we have found in Mike and Matt,” said Brenner. “ICC is implementing a five-year strategic plan to deliver quality investments in scale to institutional investors seeking to add impact to their investment portfolios and we are excited to add Mike and Matt to the management team that will drive our success.”

Lohmeier has built an impressive track record in the impact investing space during his 20-year career. As Managing Director for Wespath Benefits and Investments, Lohmeier oversaw all aspects of the organization’s $21 billion investment portfolio of public equity, fixed income, real estate and positive social purpose (PSP) investments. He was instrumental in growing the PSP program, which was developed to promote affordable housing and community development for disadvantaged communities while delivering competitive returns, to over $2 billion during his tenure. Lohmeier will be responsible for developing and executing ICC’s investment strategy, including managing existing investor relationships, developing new investors and structuring new investment funds.

Berg brings to ICC a wealth of experience in finance and commercial real estate. As an Associate at Dechert LLP, Berg advised investment banks, hedge funds, private equity funds and insurance companies on nationwide commercial real estate acquisition and dispositions. ICC has been a leading innovator in securitizing affordable housing mortgages, and Berg’s experience at Dechert advising CMBS securitizations significantly expands ICC’s ability to deliver capital in scale to address the critical need for affordable housing and community investment in our country.

About Impact Community Capital LLC

The first word and last name in impact investing, Impact Community Capital LLC is a pioneer in the impact investing space. ICC is reshaping and refining investment opportunities for investors seeking to add impact to their portfolios. ICC was founded by leading insurers to promote socially responsible investments in underserved communities, making it an early leader in making investments that facilitate social change long before “Impact Investing” began its move to the mainstream. ICC pioneered pooling and securitization of community investment portfolios to direct large amounts of capital for affordable housing and used federal New Markets Tax Credits to invest in community childcare and healthcare facilities. It is owned by the following insurance companies: Allstate Insurance Company, Farmers Insurance Exchange, Nationwide Mutual Insurance Company, Pacific Life Insurance Company, State Farm Mutual Automobile Insurance Company, Teachers Insurance and Annuity Association of America, and 21st Century Insurance Company. For more information, call (415) 981-1074, or visit www.impactcapital.net.


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IIX’s Women’s Livelihood Bond Officially Listed on the Singapore Exchange

Press Release – SINGAPORE, — August 16th, 2017 — The Women’s Livelihood Bond (WLB), structured by Impact Investment Exchange (IIX), has become listed and quoted on the Bonds Market of the Singapore Exchange (SGX) as of 9:00am today, making it the first listed bond in the impact investing space with a dual focus on financial returns and social impact. The US$8 million debt security will impact over 385,000 women in Cambodia, Vietnam, and the Philippines through enhanced access to credit, market linkages, and affordable goods and services that will build women’s resilience to socio-economic shocks and stresses.

The listing of the WLB ensures transparency and accountability for the bond’s investors who will receive rigorous disclosure of both financial performance and social impact, while also creating the potential for secondary liquidity in the impact investment market.

Ore Huiying | Bloomberg | Getty Images

“Since the WLB has been announced, we have witnessed a sharp growth of interest from global investors for financial structures like the WLB which has greatly strengthened our confidence that impact investing is the future of financial markets. Now, with the listing of the WLB, we have achieved the holy grail of potential liquidity in the impact investing market.” said IIX Founder, Durreen Shahnaz.

The four-year bond offers a coupon rate of 5.65% and includes a number of credit protection features, including $500,000 of first-loss capital provided by IIX as well as a 50% guarantee of the principal amount of the underlying loan portfolio, provided by USAID. Over 60% of the WLB’s investment capital was provided by Asian investors, mostly private banking clients. The WLB is the first in a series of IIX Social Sustainability Bonds™ which IIX plans to structure and list over the coming years.

About IIX Social Sustainability Bonds™

IIX Social Sustainability Bonds™ are uniquely structured fixed-income financial instruments which pool together a group of high-impact enterprises and issues a collective bond. These bonds differ from traditional Social Impact Bonds as they mobilize private sector capital to generate positive social impact worldwide, offer financial returns independent of social outcomes, and are able to be listed on both social and traditional stock exchanges.

About IIX

IIX is a Singapore-based impact enterprise that bridges the gap between finance and development, carving out a third space for social and environmental solutions by unlocking investment capital. As a pioneer of impact investing, IIX builds pathways to connect the Wall Streets of the world with the backstreets of underserved communities. IIX platforms and innovative financial products enable impact enterprises to accelerate their business and scale their positive impact, while pushing the impact investing space from the margins to the mainstream. To date, the work of IIX has spanned 20 countries and continues to expand with the mission of unlocking US$1billion of impact investment capital, impacting 100 million lives by 2025.


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Sunwealth™ Announces First Closing of Solar Impact Fund

Fund offers modern investing approach with quantifiable environmental and social impact

Press Release – (Boston, MA) August 15, 2017Sunwealth, an innovative clean energy investment firm bringing commercial solar to scale, today announced the first tranche closing of its Solar Impact Fund. The Fund offers investors two compelling ways to invest – via tax equity or a bond offering – in the vastly untapped commercial solar asset class.

Sunwealth seeks to create wider-reaching social and environmental impact – without sacrificing financial return – by combining commercial solar projects for credit-worthy businesses, municipalities, and non-profit organizations into a single investment vehicle.

The first tranche is comprised of six projects providing renewable solar energy to fire departments, schools, and businesses in New York and New England, including Sika Sarnafil’s U.S. headquarters in Canton, Massachusetts and the Montessori School of Northampton, Massachusetts. All six projects were recently placed in service, and to date the Solar Impact Fund has exceeded performance expectations.

The second tranche, with a bond offering of $1.5M and tax equity offering of $1M, will include nine additional projects to build on the Solar Impact Fund’s initial success.

“Commercial solar is built on proven technology, high technical potential, and is a driving force in the decentralization, de-carbonization, and democratization of our energy grid,” said Jonathan Abe, Chief Executive Officer at Sunwealth. “The Solar Impact Fund provides investors with a simple, transparent, and predictable investment. They know which projects they are funding and can track the measurable impact they are delivering.”

The Fund’s first two tranches will produce more than 1,691 metric tons of carbon offsets per annum, over $2,115,000 in energy savings for power purchasers, and generate more than 50 job years for sophisticated positions among locally-based solar firms.

Sunwealth invests alongside its investors by owning and operating each project within the Solar Impact Fund. The firm’s technology-driven insight paired with a proprietary underwriting process identifies high-performing projects that can generate meaningful financial returns. The standardized and pooled-project approach dramatically reduces transaction costs and gives investors access to a diverse set of projects that combat climate change and strengthen communities through job creation and access to clean energy.

To learn more about Sunwealth, the Solar Impact Fund, and investing in the future of energy, please visit www.sunwealth.com.

About Sunwealth

Sunwealth Power LLC is a pioneering clean energy firm aiming to unleash the power of commercial solar by delivering meaningful returns and tangible impact to its growing community of investors. Sunwealth’s proprietary methodology identifies high-performing, high-impact projects, and its Solar Impact Fund allows for rapid scaling of commercial solar investment, giving investors the unique opportunity to invest directly into a diversified pool of solar assets – generating returns and clean energy faster. Visit www.sunwealth.com.

Under no circumstances is the information contained herein to be considered an offer to sell or as a solicitation of an offer to buy any financial product. Investments are offered only via definitive transaction documents and any potential investor should read such documents carefully, including all the risk factors relating to the investment, before investing.


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