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Resources created and curated to support the growth of impact investing, for those new to the field and for experienced practitioners.

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ImpactAssets 50: A Global Landscape of Impact Investment Fund Managers
The ImpactAssets 50 (IA 50) is the first open-source, publicly published database of experienced private debt and equity impact investment fund managers.
https://www.impactassets.org/impactassets-50

ImpactAssets 50

An Annual Showcase of Impact Investment Fund Managers

Unitus Impact Partners

Total Assets Under Management: $10 – 25MM
Asset Class: Private Equity
Media, Technology and Mobile
Sustainable Agriculture
Small and Medium Business Development
Microfinance/Low-Income Financial Services/Micro-insurance

Firm Overview

Category: (None)
Unitus Impact ("UI") is an impact investment firm with the mission of improving the livelihoods of the working poor in Asia's fastest growing economies. To date, UI manages its "proof-of-concept portfolio" and the Livelihood Impact Fund, L.P. ("LIF"). LIF is a target USD $50 mm fund that plans to invest in twelve to fifteen scalable, early stage companies in Southeast Asia and India. Such investments will be focused on increasing incomes and improving the livelihoods of the working poor by linking underserved populations to formal markets, engaging the working poor as suppliers or distributors, and/or providing underserved consumers with products and services that improve their lives. Simultaneously, as an early stage investor, UI will help these companies scale their operations and impact, achieve commercial success, and generate long-term capital appreciation for investors.
Firm Headquarters: US & Canada
Years of Operation: 3 – 5 years
Total Assets Under Management:
$10 – 25MM
Total Number of Investors: More than 25
% of Capital from Top 3 Investors: Less than 25%
Investment Thesis:
The management team believes that there is a strong market opportunity for supply chain and distribution companies that aim to increase economic efficiency in SE Asia and India. This significant opportunity stems from the "pain points" that these geographies broadly face––considerable lost economic value and a cycle of poverty for a disproportionate number of working individuals––which are partially attributable to market linkage inefficiencies across numerous sectors. Through investment in scalable businesses that engage the working poor as suppliers or distributors, UI expects to drive responsible economic development that empowers the working poor to become stronger market participants. Further, by addressing pressing market gaps and combatting the resulting economic inefficiencies, UI's investees are expected to create real economic value for its Limited Partners and have a demonstration effect in capital markets by attracting mainstream investors to invest in similar companies in the future.
Investment Overview:
(None)

Investment Example

PT RUMA has built an innovative digital distribution and payment platform that services millions of Indonesians via a growing agent network of small shopkeepers. Through its SMS-based platform, RUMA sells mobile minutes, accepts payment for utilities, and offers other consumer products tailored to the needs of the working poor. RUMA's rural distribution network is primarily comprised of low-income female shopkeepers who experience income increases between 30-60% upon joining the RUMA network. Over the last year, RUMA has grown its network of small shopkeepers from 4,500 to more than 17,000 agents and plans to expand to 200,000 agents by 2016. The Founder and CEO of RUMA is Aldi Haryopratomo, a World Economic Forum "Young Global Leader" and graduate of Harvard Business School. Previously, Aldi was an early employee at Kiva and a Telco and Banking Consultant with The Boston Consulting Group (BCG).

Leadership and Team

Cumulative Leadership Experience in Investing:
More than 30 years
Cumulative Impact Experience of Top Three Firm Leaders:
20 – 30 years
Geoff Woolley – Chief Executive Officer More Info

Geoff has been involved in impact investing and microfinance since he joined Unitus Labs as a board member in 2001. During his time as Unitus Lab’s Capital Markets Chair, he was instrumental in the launch of Unitus Equity Fund, the first commercially focused microfinance equity investment fund, and Unitus Capital, the first investment bank focused on serving microfinance institutions and social enterprises throughout Asia. Since 2004, Unitus Equity Fund (and its successor Elevar Equity) have raised two funds totaling nearly $95 million, while Unitus Capital has successfully arranged over $700 million in debt and equity financing for social enterprises since 2008. In early 2011, Geoff co-founded Unitus Impact to support livelihood acceleration in Asia and Africa, prove the viability of investments in livelihood ventures, and attract capital markets and other investors to the space. Among many positions, Geoff holds Board seats at Micro Benefits China and other social enterprises benefiting those at the base of the economic pyramid. He is a founding and current board member of SKS Microfinance, India’s largest microfinance bank, and Samhita Microfinance based in Bhopal, India.

Lee FitzGerald – Managing Partner More Info

Lee has spent the last 20 years as President and CEO of Venture Out, a San Francisco-based private investment firm focused on the financial services, hospitality, real estate, and development sectors. Lee joined Venture Out in 1987 as Vice President of corporate development after four years as an Associate in Boston-based law firm Csaplar & Bok’s real estate and corporate finance practice areas. Lee also serves as a director of the RockRose Institute, a San Francisco based non-profit that is committed to supporting, promoting, and advancing non-violent conflict resolution.

Beaudean T. Seil – Managing Partner More Info

Beau has been highly involved in the social enterprise and impact investing space for the last five years. As a Principal at Montara Point Investments, he worked with Geoff Woolley in connection with his global investment and management responsibilities related to venture leasing, microfinance, and impact investing. Immediately prior to the launch of Unitus Impact, Beau was a Principal at Capital Impact, where he worked extensively on the Sorenson Housing Opportunity Fund, a private equity fund focused on developing India’s affordable housing ecosystem, and spent significant time in China working on multiple projects and leading Capital Impact’s outreach in the PRC.

Percentage of Investment Professionals who are Women and/or Under-Represented Groups in Firm's Geographic Focus:
More than 50%
Percentage of Board Members who are Women and/or Under-Represented Groups in Firm's Geographic Focus:
More than 50%

Financial Performance

Target Financial Returns Relative to Benchmark:
Market Rates
Actual Performance Relative to Target Financial Returns in the Past Three Years:
In line with initial target returns
Financial Reporting Frequency to Investors or Donors
Quarterly

Impact Performance

Percentage of Total Assets Under
Management that are Impact Investments:
100%
Primary Impact Outcomes:
Alleviating poverty
Creating jobs
Increasing access to financial services
Value-added Services Offered:
Access to markets
Other: Business development and strategic assistance

Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:
The focus areas of LIF include supply chain companies, distribution companies, and other companies that contain real, measurable social impact as a main driver of the companies' overall success and scalability. LIF invests in supply chain companies across various industry verticals, particularly agriculture. Economic value is lost and livelihoods are restrained due to high spoilage and wastage rates of perishable inventory, inadequate transport and cold chain technology, unnecessary layers of middlemen, and insufficient access to procurement or distribution channels in rural areas. LIF also targets distribution platforms that address the often inefficient "last mile" of delivery, or sale of products and services to end consumers in urban, semi urban, and rural areas. Such distribution companies have a strong social impact because they often provide low income small shopkeepers with reasonably priced products or services that better match consumer demand, thereby enabling the shopkeeper to increase his or her income levels.

Impact Tracking and Monitoring

Impact is Tracked:
Yes
Social and/or Environmental Impact is Reported to Investors and Donors:
Yes - on regular basis (annual or quarterly)
Third Party Validations:
Participant on steering committees or leadership roles within impact industry associations
Publisher or contributor to industry white paper or other research in impact investing

Learn More

Key Contact Name: Ryan Zoradi
Phone: (415) 829-2473
Mailing Address:
637 Natoma Street #2
San Francisco, CA 94103

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Impact investments are investments made into organizations and funds that generate measurable social and environmental impact as well as financial returns.