Investing in impact startups - Democenter
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Investing in impact startups info@socialfare.org www.socialfare.org SocialFare @SocialFareCSI
Impact investing
©SocialFare®
Impact investing = social return + financial return
©SocialFare® 3
Investing to develop new models
IMPACT INVESTING
New solutions and
business models
Public sector Private sector
NOT SUFFICIENT for It is not a solution
cuts needed for everyone
©SocialFare® 4
Social value generates financial value
…CREATE The recognition of this great value
SOCIAL
ECONOMIC produced for the community will
IMPACT…
VALUE also increase the economic value
of our companies.
For users New jobs Improving
For communities the quality of services
New models
More equitable
distribution of value
among all social actors
Economic growth
©SocialFare® 5
Impact investing = 36Mld$ managed assets in the world
Impact investing
Assets under management, by sector, Mld $
• $ 36 billion managed according to
the philosophy of impact investing
in 2015
• Large institutional investors,
BlackRock, Goldman Sachs,
Bain Capital etc have launched
funds or impact investing divisions
• The G8, the UN and also the
European Union are promoting
the impact invesing under various
forms
Fonte: Global Impact Investing Network, 2016
©SocialFare® 6
Strictly impact investing market in Italy in 2018
Strictly Impact €210,5 milioni
210,5 Impact €1,5 miliardi
MLN
Almost Impact €6,5 miliardi
©SocialFare® 7
Impact investing is also developing in Italy and it is estimated that the
potential market for 2020 will be € 2.8 billion
8
60+ Impact investors in Italy • Agenzia per la Coesione Territoriale •Fondazione con il sud • Invitalia • Anonimo •Fondazione CRC • Lendlease • Avanzi •Fondazione Cariplo • MainStreet Partners • Banca Prossima •Fondazione Lang Italia • Make a cube3 • Banca Popolare Etica •Fondazione per l’Italia Sociale • Oltre venture • Banco BPM •Fondazione Social Venture Giordano dell’amore • Opes Fund • BCC •Fondazione Sviluppo e Crescita (CRT) • Pierri Philantropy Advisory s.r.l. • BNL •Fondazione Vodafone • Rancilio Cube s.r.l. • Cassa Depositi e Prestiti •Garnell • Sefea • Compagnia di San Paolo •Genera s.p.a. • Sella SGR • Equiter s.p.a. •Generali Italia s.p.a. • SocialFare Seed • Etica SGR •Giorgiana Norarbartolo PFC • Société Générale • Etimos •Hermes Capital • UBI Banca • Finde s.p.a •lmpact Alliance Fund • Unicredit • Finlombarda •ImpactHub Milano s.r.I. • Unipol Sai Assicurazioni S.p.a. • Fondazione Accenture ©SocialFare® 9
Example ©SocialFare® 10
Example: Brunello Cuccinelli
« The constant attention given by Brunello Cucinelli to the territory and to all
the individuals working for the company are the basis of long-term
development. The model of sustainable and polite growth supports and
supports the positioning recognized to the brand in the high end of luxury »
©SocialFare® 11Social value…
• The company pays its employees twenty
percent more than the Italian average of
wages in the manufacturing industry
• His employees finish the job at half past five
and do not send work emails overtime
• Created the "Scuola dei mestieri", where
subjects such as "mending and rowing",
"cutting and packaging", "tailoring and
masonry" are taught.
• Cuccinelli finances several cultural and
restoration projects Construction of various
parks
©SocialFare® 12…Ehnaces financial return
+140%
from IPO
13Measurement of impact investment
International
private equity
report example
©SocialFare® 14Finance an impact project
©SocialFare®How to finance an impact project?
• Grant (foundation and institutionals)
• Donations (private)
• Debt (banche etiche o convenzionali)
• Equity (fondi impact)
• Crowdfunding (equity, debit, donation
and reward base)
©SocialFare® 16Different structures for different projects
• Associazione
• Coop
• Srl impresa sociale
• Srl innovativa ad vocazione sociale
• Srl
• Srl + coop
©SocialFare® 17How to coose?
• Impact profit vs no profit
• Few founders vs more founders
• High growth vs slow growth
• 20-30+ y/o founders vs 40+
• Search for exit vs build and hold
• New or existing company (eg Coop..)
©SocialFare® 18Class exercise
©SocialFare®Exercice: understanding the best structure for you
• Write dow who you are:
• New or existing?
• How many founders?
• How many people involved?
• Search for profit or low/no profit
• What impact?
• Looking to grow turnover double digit
every year?
• Full time work or part-time?
• Other significant details?
©SocialFare® 20Impact venture capital
©SocialFare®Why venture capital and impact investing together?
In recent years new venture capital funds were
born, investing in start-ups or in young
companies that are economically sustainable
and which face the goal of creating a positive
social impact
©SocialFare® 22Oltre Venture
• In 2006 born Oltre venture, the first Social
Venture Capital in Italy
• Over I has raised € 8m from 21 rich investors
and has in 17 companies in different sectors:
Microfinance, Temporary Social Housing,
Healthcare...
• In 2015, Oltre II was established with € 23m with
investments for families, the elderly, young
people and children
©SocialFare® 23Centro Medico Santagostino
• Offer quality health services at affordable prices
• Founded at the end of 2009, the CMS is a chain
of clinics that provide the main medical services
• 8 open medical centers (7 in Milan and 1 in
Bologna); +120,000 patients served since 2009 to
date
• It achieved economic sustainability at the end of
2014
©SocialFare® 24Centro Medico Santagostino
©SocialFare® 25Permicro
• In 2007, PerMicro was founded, the first
microcredit company in Italy
• It provides loans to non-bankable people
allowing them to become bankable
• From 2007 to today + € 82 million disbursed,
4,000 jobs created
• It achieved economic sustainability at the end
of 2014 and is considered a successful business
model in Europe
©SocialFare® 26Toniic: the first global community of impact investors
It was founded in 2010 in San
Francisco and is a community
that collects:
• Individuals, family offices,
foundations, funds
• 160 members representing
more than 360 investors in 22
countries
• www.toniic.com
©SocialFare® 27T100-2016 Launch Report
• Report on 51 impact investing portfolio
• Three different types of investors (HNWI, Family Office, Foundation) with
portfolios from 1 million to +100 million dollars
• Portfolios dedicated to different themes Impact: Education, Health,
Community Development, Sustainable Agriculture, Environment, Cross
Sectoral, Poverty, Financial System, Other
• Investor's domicile: 61% US, 24% EU, 10% Africa, 5% Asia
©SocialFare® 28The survey shows that impact investing has profitable returns
29Example: Kim Jordan founded New Belgium Brewery
• Kim Jordan founded New Belgium Brewery
• Society: environmental protection and creation of a work
environment that respects and protects workers as much as
possible
• The company was sold to company employees thanks to a stock
option program. Kim wanted to share the company's success with
his employees
• Part of the profits were used to create a 15 M $ impact investing
foundation
• Kim has today an estimated assets of 225 M $
©SocialFare® 30Our VC - SocialFare Seed
©SocialFare®In 2013 the first center of private social innovation in Italy was established
In 2016 SocialFare enhances its acceleration program
Three ways to
accelerate a startup
©SocialFare® 332018: launch of SocialFare Seed fund
• SocialFare launched SocialFare Seed
at the end of 2017
• First seed impact venture capital in
Italy
• 100K€/startup average seed
• 6 private private investors
• SocialFare seed is not only capital but
also a big network to open new sales
channels for the starutps
©SocialFare® 34What are we looking for?
Strongly Innovative and Start-ups able
motivated and scalable to grow
dedicated full- business nationally and
time teams impact models internationally
©SocialFare® 35What we offer?
Up to 100K€ in 4 month full-time Network 50+ Free desk at
cash seed funding acceleration investor & mentor Rinascimenti Sociali
©SocialFare® 36Where we invest in
©SocialFare® 37SocialFare acceleration programme
Call Selection Acceleration Investor Day
steps
2 months 2-3 weeks 4 months 1 day
Monitoring & Evaluation
©SocialFare® 38Our portfolio
©SocialFare®Our investments
Public administration Women Culture Quality
trasparency safety & art of work
Ethical fashion Cultural heritage Services to families
©SocialFare® 40A Social Impact
Fashion and Lifestyle
Accessories Company
41The Social Problem
Clinical Depression
6 8 . 5 Million 2 5 . 4 Million
Forcibly displaced
people w o r l d w i d e Refugees Dependance on Aid
Social Challenges
Source: UNHCRThe Products
Luxury Fashion and Lifestyle Accessories
#lifestylecollection
43The Products Luxury Fashion and Lifestyle Accessories #resortcollection
Brand awareness - Influencers
Distribution Offline London Paris Qatar Gstaad Bethlehem Geneva Saint Tropez Gallipoli Dubai Oman
Exercise ©SocialFare® 53
How to finance an impact project?
• Grant (fondazioni)
• Donations (private e istituzioni)
• Debt (banche etiche o convenzionali)
• Equity (fondi impact)
• Crowdfunding (equity, debit, donation
and reward base)
©SocialFare® 54Investing in impact startups info@socialfare.org www.socialfare.org SocialFare @SocialFareCSI
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