Gray Ghost Ventures

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Presentation by Steve Hardgrave, Gray Ghost Ventures, at the Take Action! 2010 Impact Investing Conference in Boston.

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Gray Ghost Ventures

  1. 1. 09.16.10 | Taking Action! Boston GGV Overview
  2. 2. Invested in Impact <ul><li>GGV’s “three golden threads”: </li></ul><ul><ul><li>Impact focused on the “base of the pyramid” </li></ul></ul><ul><ul><li>Risk adjusted financial returns </li></ul></ul><ul><ul><li>Catalytic in attracting additional capital </li></ul></ul><ul><li>Brief History </li></ul><ul><ul><li>2000: Philanthropic activity in microfinance </li></ul></ul><ul><ul><li>2003: Investment in microfinance funds </li></ul></ul><ul><ul><li>2006: Direct investment “beyond microfinance” </li></ul></ul><ul><ul><ul><li>Information and communications technology (ICT) </li></ul></ul></ul><ul><ul><ul><li>Education </li></ul></ul></ul><ul><ul><li>2009: First Light Incubator </li></ul></ul>
  3. 3. Investment by Area
  4. 4. Invested in Financial Inclusion <ul><ul><li>15 microfinance funds </li></ul></ul><ul><ul><li>100+ MFIs </li></ul></ul><ul><ul><li>9.5 million clients </li></ul></ul><ul><ul><li>Tracking toward high-teens returns </li></ul></ul><ul><ul><li>Anchor investor in various funds </li></ul></ul>
  5. 5. Invested in Access <ul><li>Mobile banking to over 1mm unbanked </li></ul><ul><li>1.6mm users in a mobile marketplace </li></ul><ul><li>Improved lighting for 1mm people </li></ul><ul><li>Positive credit score for 300k renters </li></ul><ul><li>Target of > 20% IRR </li></ul><ul><li>Early BoP technology fund </li></ul>
  6. 6. Invested in Education <ul><ul><li>148 schools financed </li></ul></ul><ul><ul><li>112k students in ISFC financed schools </li></ul></ul><ul><ul><li>12k enrollment increase </li></ul></ul><ul><ul><li>335 new teaching positions </li></ul></ul><ul><ul><li>Projected >20% IRR </li></ul></ul><ul><ul><li>First school finance company for BoP </li></ul></ul>
  7. 7. GGV Forward Focus <ul><ul><li>Address the gaps between capital, need and opportunity </li></ul></ul><ul><ul><ul><li>Demonstration of returns and impact </li></ul></ul></ul><ul><ul><ul><li>Seed capital for pre-proof-of-concept ideas needed </li></ul></ul></ul><ul><ul><ul><li>Mobilize third party capital </li></ul></ul></ul>

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