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Chris Prattos, Emily Albi, Daniel Delfico, James Driscoll, Luke Reilly, Ray Ren
November 29th, 2017
1
Agenda
2
Introduction
History of the Fund
Organizational Overview
Fund Overview
Selection Process
Company Recommendation
Conclusion
Appendix
Impact investing Overview
Executive summary & Recommendation
Team Introduction
3
Emily Albi
Freshman
Finance & Economics
Daniel Delfico
Sophomore
Finance & Italian
James Driscoll
Junior
Economics & Statistics
Luke Reilly
Sophomore
Finance & Economics
Chris Prattos
Sophomore
Business Analytics
& ACMS
Ray Ren
Sophomore
Finance & ACMS
Agenda
4
Introduction
History of the Fund
Organizational Overview
Fund Overview
Selection Process
Company Recommendation
Conclusion
Appendix
Impact investing Overview
Executive summary & Recommendation
Executive Summary
5
Recommendation
Management
Collaborators
Portfolio Companies
Background
Prospect the Rise Fund and prepare capital allocation to co-investment in the next
open funding round or next impact focused fund
• $3 billion -TPG Growth III,LP : Vintage year- 2015 with 13.7% Net IRR
• $2 billion -TPG Growth II, LP : Vintage year- 2011 with 25.0% Net IRR
• $74 million - Elevar Equity III : Vintage year – 2015 with undisclosed Net IRR
• $74 million - Elevar Equity I: Vintage Year 2010 with undisclosed Net IRR
Impact Investing
Industry
Industry continues to become more attractive as more experienced professionals business
move into this space due to improvements in making social and fanatical impact
• Bill McGlashan’s continued commitment to impact investing in emerging markets
• Group of all star philanthropist, entrepreneurs, and professionals contributing their
talents and resources
Recommendation
6
We recommend:
• Building a relationship and further prospecting TPG Growth
• Prepare capital allocation for the next open funding round TBA
• Co-Invest in TPG Growth with a 5-year horizon focused on U.S. VC
with a sustainable impact
Mutualistic
relationship
between
collaborators,
leadership team,
and founders
board
Unique and holistic
selection process of
portfolio companies
designed to manage
and monitor to meet
social and financial
benchmarks
Previous exits
successes done
by TPG Growth
and other TPG
funds
Agenda
7
Introduction
History of the Fund
Organizational Overview
Fund Overview
Selection Process
Company Recommendation
Conclusion
Appendix
Impact investing Overview
Executive summary & Recommendation
Global allocation of Impact Investing funds is primarily centralized in USA. The Rise Fund
has collaborators and investments worldwide to maximize their potential impact
82017 Annual Impact Survey
The Impact investing space continues to grow as more professionals and opportunities
increase within the industry, enabling most to capture market-like performance
9
Performance and Expectations2016-2017 Impact Investment Activity
Based on the Annual
Impact Investor Survey
2017, investors
continue to be satisfied
with the performance
of their investments
YOY Industry Progress & Challenges
Professionals with relevant skill sets- 90%
Research and data in Industry- 89%
High-quality investment opportunities- 86%
Appropriate capital across risk/return
spectrum- 52%
Common understanding of segmentation-47%
Suitable exit option – 44%
% Noting Progress % Noting Challenges
2017 Annual Impact Survey
Agenda
10
Introduction
History of the Fund
Organizational Overview
Fund Overview
Selection Process
Company Recommendation
Conclusion
Appendix
Impact investing Overview
Executive summary & Recommendation
A number of people and organizations contribute diverse expertise to ensure successful
investments of this $2 billion fund
11
TimelineHistory
December 2016
Present Day
Dec. 20
January 2017
Apr. 26
May 4
May 17
Aug. 15
• TPG Growth, the global growth equity and middle-market buyout platform
of PE firm TPG, announces creation of the Rise Fund
Rise Fund Press Release
• Announces involvement of Elevar Equity and The Bridgespan Group as
collaborators
• Founders Board made up of 13 highly accomplished global philanthropist,
activist, and business leaders
Collaborators + Board
Investments
• Lead investor of series D round; 4 rounds; investment of $190 million;
raised $251 million
EverFi, Inc
• Growth investment of $49.99 million; raised $70.14 million
Dodla Diary limted
• Venture round; 2 rounds; raised $12 million
Brava Home, Inc.
• Lead Investor of series A round; 2 rounds; raised $1.6million
Dharma Humanitarian Solutions, LLC
S&P CapIQ, TPG Growth Press Release, Crunchbase
Agenda
12
Introduction
History of the Fund
Organizational Overview
Fund Overview
Selection Process
Company Recommendation
Conclusion
Appendix
Impact investing Overview
Executive summary & Recommendation
TPG Growth functions within TPG as the broader global alternative investment platform. Its past
and continued success sets the stage for a very successful Rise Fund.
13
Background
• Founded in 2007 to specialize in growth equity and middle-
market buyout opportunities
• Works with companies across the U.S, Europe, Africa, and Asia
• Currently manages $8.4 billion in assets across a variety of
sectors
• High focus on engagement in sustainability and the community
• Number of Exits: 14, Number of lead Investments: 26, Number
of Investments: 62
TPG Growth Investments
Past Performance of TPG funds
Investment name Vintage year Investment Strategy Net IRR
TPG Growth I, LP 2007 Buyout – Mid 10.6%
TPG Growth II, LP 2011 Buyout - Mid 25.0%
TPG Growth III, LP 2015 Buyout – Mid 13.7%
TPG Partner IV, LP 2003 Buyout – Large 15.9%
TPG Partner V, LP 2006 Buyout - Mega 5.5%
TPG Partner VI, LP 2008 Buyout – Mega 13.3%
As of
September
29,2017
As of June
30, 2017
S&P CapIQ, Therisefund.com, Crunchbase, Lacers Portfolio Advisors, State of New Jersey- Department of the Treasury
Elevar Equity functions as the perfect complement to TPG Growth for the Rise Fund due to
its past successes and focus on Impact Investing in India
14
Background
• Focused on generating investment returns by delivering
essential services to disconnected communities
• Investment Stage: Seed, Early Stage Venture, Late Stage
Venture, Private Equity
• The Elevar method: human centered venture capital- PEOPLE
are the core of their investing experience
• “We have led Investments in 30 companies across 7
countries who have serve over 20 million clients.”
Past Funds
• First institutional investor in 27 companies and the founding
investor in 13
• Past funds
• 11/11/15 – Elevar Equity III – 74 mil
• 1/1/10 – Elevar Equity I – 74 mil
• 1/1/07 – Elevar Equity Unitus Equity Fund – 24m
• Number of Exits: 4
• Number of lead Investments: 13
• Number of Investments: 29
Elevar Equity companies
Key Management
Sandeep Farias: Founder and MD
• 20 years of experience in diverse areas: emerging
markets investing, microfinance, governance,
organizational design and corporate law
Johanna Posada: Founder and MD
• Has 17+ years of experience in emerging
markets investing, corporate finance,
microfinance and economics
S&P CapIQ, ElevarEquity.com, Crunchbase
A partnership between TPG Growth and Elevar Equity will generate a
mutually beneficial relationship
15
Collaborator Opportunity
Collaborator
Avoidance
Collaborator Synergy
Collaborator Opportunity
Entrepreneurial
Meritocracy
Global
Connections
People Focused
Proven Financial
Performance
Ideal Collaborator Fit
Collaborator Alignment Boundary
Social
Responsibility
Elevar Equites focus on investing in people along TPG Growth will help democratize
essential services for millions of customers
16
John	Pleasants,	CEO
• Specialty: Consumer technology industry
• Bachelors at Yale & M.B.A at Harvard
• Former EVP of Media Solutions at Samsung
• Former CEO of Ticketmaster from 1999-2005
• Former Co-President of Disney Interactive
Media Group
• Handled development & launch of
Disney Infinity
Jesse Berns, Co-Founder & CEO
• Specialty: Epidemiologist and Biostatician,
Data science
• UC Berkeley in Epidemiology & Biostatistics
• Director at the Impact Lab in D.C
• Epidemiologist Consultant for World health
Org. Iraq
• Data scientist at the Impact Lab, a data
consultation firm for social concerns
BVK Reddy, CEO
• Specialty: Dairy Industry
• 30 years of experience in the dairy industry
• Osmania University in Dairy Technology
• Has collaborated in the past with Cornell
University
• Travels globally to remain updated on all latest
dairy-related developments
Tom	Davidson,	Co-Founder	&	CEO
• Specialty: Education Technology
• BA at Bowdoin College
• 20 years of experience in the education
technology industry
• Youngest committee chair of the Utilities and
Energy Committee in Maine
• Top 100 Entrepreneur Innovator by EY and GS
Agenda
17
Introduction
History of the Fund
Organizational Overview
Fund Overview
Selection Process
Company Recommendation
Conclusion
Appendix
Impact investing Overview
Executive summary & Recommendation
Overview of The Rise Fund
Leadership
Bill McGlashan: Founder and MP of TPG Growth
• MD and MP of TPG Capital (joined in 2006)
• Has founded and served in executive roles of various
companies, including STX Entertainment, Pharmanex, LLC.,
Vectis Group, LLC.
Michael Stone – Chief information officer
• Senior Advisor and Partner at TPG Growth
• Founder and Managing Member of Freestyle Capital and
Freestyle Investors
• Started Career in management consulting at Bain & Company
Jeff Skoll: One of the largest backers of social entrepreneurs
• Canadian engineer, internet entrepreneur and film
producer. He was the first employee and subsequently
first president of eBay,
Paul David Hewson or Bono!
• Irish singer-songwriter, musician, venture capitalist,
businessman, and philanthropist. He is best known as
the lead vocalist and primary lyricist of rock band U2.
Founders board
Team behind the Steam
Collaborators: TPG Growth, Elevar
Equity, and The Bridgespan Group
Leadership: 10 highly skilled and
experienced professionals
Founders Board: 13 highly
accomplished global philanthropist
and business leaders
leadership
S&P CapIQ, Therisefund.com, Crunchbase, Bloomberg
Founders
Board
Collabora-
tors
Agenda
19
Introduction
History of the Fund
Organizational Overview of Collaborators
Fund Overview
Selection Process & Sector Involvement
Company Recommendation
Conclusion
Appendix
Impact investing Overview
Executive summary & Recommendation
Evidence-Based Impact
Investing
Quantitative Metrics End-to-end assessment
TPG Growth plans to make its unique approach of measuring financial and
social impact public, as a “blueprint” for others to follow
20
Examples of “Evidence-Based Impact Investing”
• The Rise Fund was able to track the increase in
household income achieved by farmers who sell
Dodla Dairy milk to determine the company’s
value as a potential investment
• With Everfi Inc., TPG quantified the savings
related to health-care and legal costs that result
from participation in the firm’s education
programs on topics such as sexual assault
prevention
S&P CapIQ, Therisefund.com, Crunchbase, Bloomberg
• Defined 30 key metrics, aligned
with UN Sustainable
Development Goals
• Enables impact to be
achievable and measurable
through quantifiable
assessment
• Partnered with the Bridgespan
Group to create rigorous set of
metrics for measuring impact
• Quantify in dollar amount to
evaluate impact & financial
performance
• Sourcing- Invest in companies
that fit investment criteria
• Diligence- Quantitatively
estimate potential impact
• Investment- Manage & monitor
investments
• Exit- Assess & report impact
Impact Metrics
Traditional growth-
equity metrics
•CAC to LTV
•Cash flows
•Expense control
Rise Specific
Metrics
•Impact Multiple of
Money threshold
•Company specific metrics
•Third party providers to
asses and enhance impact
TPG Rise Fund’s 7 Sector Focus
21
Build businesses that help reduce hunger, increase food security, and
promote sustainable agriculture.
Build businesses that expand access to educational attainment, boost educational
achievement, and strengthen pathways to employment.
Build businesses that enable affordable, reliable, sustainable, and modern energy for
all.
Build businesses that expand financial inclusion, with the goal of reducing poverty by
increasing household and small business earnings and enabling access to essential services.
Build businesses that reduce the cost of health care, increase access to high-quality health
services and health-saving interventions, and decrease malnutrition,
Build businesses that accelerate digital inclusion and leverage software and mobile technology to
drive efficiency, productivity, and innovation in education, etc
Build business that provide stable, affordable housing, efficient
transportation, and low-cost input materials for the production of basic
goods.
Therisefund.com
Current sector involvement
22
Energy Agriculture and Food
• Brava Home manufactures
ovens that use 90% less energy
than conventional ovens,
making such appliances a
viable solution for reducing
household energy
consumption and emissions
• Brava CEO John Pleasants
says that devices such as the
smart oven fit into the
company’s plan to, “build a
system that makes it easier to
cook and eat well at home.”
Dodla Initiatives
• Access to affordable animal feed for farmers
• Helped more than 2300 farmers secure funding
• GRPS enabled electronic milk analyzers which
generate reports and enable quick payment
disbursement
• Free workshops on best farming practices (animal
health care and clean milk production)
Current sector involvement
23
• By driving and simplifying data collection with Dharma, the
Rise Fund fulfills its vision of “driving global impact through
uncompromised business performance”
• Dharma has recently been tested and proven successful in
extreme situations such a rural medical clinics in Iraq,
hurricanes Harvey and Irma, and the humanitarian crisis in
Syria
Dharma Humanitarian Solutions
Social	Mission
• For-Profit, For-Good
• Online coursework in:
• General education
• Financial literacy
• Harassment
prevention
• Substance abuse
• Theory of Change: Break the
cycle of poverty and abuse
through mass education
Financial	Outlook	/	TPG’s	Vision
• Currently profitable and
expanding
• High relative market share
• Series D: $190 M (TPG, RISE,
Main St. Advisors, Jeff Bezos,
etc.)
• Opportunities for Growth:
Impoverished areas, Native
American Reservations, and
corporate partnerships
Agenda
24
Introduction
History of the Fund
Organizational Overview of Collaborators
Fund Overview
Selection Process & Sector Involvement
Company Recommendation
Conclusion
Appendix
Impact investing Overview
Executive summary & Recommendation
A financial services or infrastructure focused social enterprise would add value and
diversity to the Rise Fund’s portfolio
25
Selection Criteria
Must be in one of the
untouched sector
Fit with the Rise Fund’s
vision
Has a social and financial
focus
Has a large opportunity for
growth
Impacts a region outside of
USA
Possible Investments
26
Company	History
• Founded in 2011
• HQ in NYC, regional office in
Tanzania. Operates in
emerging markets.
• May 2016 announces
partnership with microfinance
leader FINCA (6 African
countries)
Investment Opportunity: Firstaccess
Social	Mission
• Technology predicts the credit
risk of borrowers in informal
markets
• Theory of Change: reduce cost
of capital and spur
development in emerging
markets through increased
lending
Financial	Outlook	/	TPG’s	Vision
• Series A (Nov 2017): $7M from Bamboo Capital Partners, Impact
Engine, and Accion Venture Lab, 500 FinTech, etc.
• Technology serves to reduce risk, lower costs, increase speed of loan
decisions, and expand pool of eligible borrowers internationally
• Opportunities for Growth:
• 77% of African adults remain excluded from the formal
financial system
• Mobile phones = faster, easier outreach
Agenda
27
Introduction
History of the Fund
Organizational Overview of Collaborators
Fund Overview
Selection Process & Sector Involvement
Company Recommendation
Conclusion
Appendix
Impact investing Overview
Executive summary & Recommendation
Summary of Key Factors
28
Team behind
the steam
• Combined talent and experience of the collaborators, leadership team, and
founders board
• Capable of global reach, management and monitoring of ideal companies
Proven
Performance
• TPG Growth’s funds I-III have an averaged net IRR of 16.4%
• Elevar Equity & the Bridgestone Group have been successful in their own
pursuits
Impact
Measurement
• Combination of traditional growth equity metrics and quantitative metrics
produced by The Bridgestone Group
• End-to-end assessment and management of investments to ensure the
companies reach impact and financial benchmarks
Agenda
29
Introduction
History of the Fund
Organizational Overview of Collaborators
Fund Overview
Selection Process & Sector Involvement
Company Recommendation
Conclusion
Appendix
Impact investing Overview
Executive summary & Recommendation
Appendix A: Portfolio Companies
30
Brava Home Inc.
31
• Brava	Home	Inc.	is	a	domestic	Internet	of	Things	company	that	
integrates	automation	technology	into	the	home,	with	a	focus	on	
developing	kitchen	appliances
• Brave	Home	operates	in	the	Household	Appliance	space	of	the	
Consumer	Discretionary	industry
• The	company	was	founded	in	2015	and	is	based	in	Newark,	
California
• Brava	Home	is	an	early	stage	venture	that	has	raised	a	total	of	
$12M,	having	recently	completed	a	round	of	Series	B	funding
• Investors	include	Lightspeed	Venture	Partners,	True	Ventures,	
Lead	Edge	Capital	Management,	as	well	as	TPG
Funding
Revenue	and	Growth Management	Team
Investment	Highlights
John	Pleasants,	CEO
• John	Pleasants	is	a	long	time	Silicon	Valley	executive	and	veteran	
of	the	consumer	technology	industry
• Former	CEO	of	Ticketmaster	from	1999-2005
• Joined	Brava	as	a	CEO	from	Samsung	where	he	was	the	head	of	
Executive	Vice	President	of	Media	Solutions
• Also	has	held	executive	positions	at	Playdom	and	Electronic	Arts
Thomas	Cheng,	Co-Founder	&	CTO
Dan	Yue,	Co-Founder	&	CPO
• Thomas	Cheng	is	a	serial	hardware	entrepreneur	with	more	than	a	
decade	of	IoT	experience
• He	was	the	co-founder	of	the	company	Streetline	Networks,	where	
he	led	development	of	what	was	formerly	the	largest	commercial	
sensor	network
• Has	authored	a	multitude	of	patents
• Dan	Yue	was	the	co-founder	of	Playdom,	one	of	the	leading	
developers	of	social	games	for	Facebook
• He	also	co-founded	Green	Chef,	an	organic	ingredient	and	recipe	
delivery	service
• Brava	has	developed	technology-enabled	appliances	with	strong	capabilities,	
like	an	oven	that	uses	90%	less	energy	than	a	conventional	oven
• Recent trends in healthy eating have sparked demand for and funding of
companies that produce food related technologies
•TechCrunch,	a	news	source	for	technology	startups,	reported	that	Brava	is	
“building	a	system	that	makes	it	easier	to	cook	and	eat	well	at	home.”
Brava and TPG’s Vision
Brava	and	TPG’s	Vision The	Energy	Sector
Due	to	the	contribution	of	current	power	sources	to	climate	change,	demand	for	renewables	and	energy	efficient	products	is	increasing,	leading	to	an	increase	in	
investment	opportunity	and	profitability	within	the	sector.	
Sector	Leadership
Other	Investments
Mission:	Build	businesses	that	enable	affordable,	reliable,	sustainable,	and	
modern	energy	for	all.
• In	2014,	TPG’s	Alternative	and	Renewable	Technologies	
(ART)	fund	invested	in	Ebes
• Ebes	is	a	Brazilian	downstream	solar	company	that	
manufactures	and	engineers,	installs,	integrates,	and	
operates	photovoltaic	systems	for	customers
Rick	Needham,	Energy	Sector	Lead
• Served	as	the	Director	for	Energy	&	Sustainability	at	Google	from	
2008	to	2016
• Led	several	projects	in	clean	energy	as	Vice	President	of	Business	
Development	at	DEKA
The	Energy	Problem
• Over	two	billion	people	lack	
access	to	reliable	energy
• 60%	of	African	businesses	say	
inadequate	or	unreliable	energy	
impedes	their	growth
The	Solution
• The	energy	industry	is	expected	
to	require	$48	trillion	of	
investment	by	2035
• $6	trillion	of	that		investment	
will	go	toward	renewables
• Despite	the	abundance	of	potential	for	renewable	energy	resources,	many	people	
rely	on	both	dangerous	and	potentially	toxic	sources	of	energy,	such	as	fossil	fuels,	
coal,	kerosene,	and	animal	waste
• By	investing	in	businesses	that	are	dedicated	to	providing	cleaner	energy	sources,	
TPG	believes	they	can	provide	them	with	the	capital	that	will	empower	them	to	
develop	the	technologies	that	will	improve	our	energy	system
Energy Agriculture	and	Food
Brava	Home	manufactures	ovens	that	
use	90%	less	energy	than	conventional	
ovens,	making	such	appliances	a	viable	
solution	for	reducing	household	energy	
consumption	and	emissions
Brava	CEO	John	Pleasants	says	that	
devices	such	as	the	smart	oven	fit	into	
the	the	company’s	plan	to,	“build	a	
system	that	makes	it	easier	to	cook	and	
eat	well	at	home.”
Impact	Potential
33
Dodla Diary Limited
Overview
Chairman: D. Sesha Reddy has
more than 40 years of industry
experience in assorted capacities
Management
Industry 2017 Performance
• Headquartered in Hyderabad City, Telangana State, India
• Produces, processes, and sells milk products in 9 states of
India
• Products include Fresh Milk, Butter, Ghee, Paneer, Curd,
Flavoured Milk, Doodh Peda, Ice Cream and Skimmed Milk
Powder
• Focus on new technologies and processes
• Key values of hard work, integrity, transparency, sincerity,
honesty, and commitment
Managing Director: D. Sunil Reddy
entered the diary industry in 1995
and has agricultural background
CEO: BVK Reddy joined Dodla in
1997 and plays key role in
directing company strategy
• Standalone revenue of ₹ 1,411.46 Crores during
FY 2017 against ₹ 1,182.01 Crores in FY 2016.
• After tax profit of ₹ 44.39 Crores as against ₹
35.57 Crores
• New Hyderabad plant commencing production
• Increased retail outlets to 65000
• Overseas production in Uganda
• RISE invested $50M in Dodla
• Help upstream milk supplying farmers gain access
to affordable animal feed and veterinary services
• Helped more than 2300 farmers secure funding to
expand production
• Corporate responsibility agenda
Dodla Dairy Limited
34
Industry Overview TPG Vision
Dodla Initiatives Measurable Impact
• Reduce world hunger, increase food security, and promote
sustainable agriculture
• Agriculture-driven growth effectively reduces poverty
• India has the most dairy farmers worldwide
• Measures rise in farmer income achieved with the help of Dodla
• Dodla’s procurement strategy and local influence helps alleviate
rural poverty
• Access to affordable animal feed for farmers
• Helped more than 2300 farmers secure funding
• Strict quality checks through the supply chain at collection centers,
chilling centers, and processing centers
• GRPS enabled electronic milk analyzers which generate reports
and enable quick payment disbursement
• Free workshops on best farming practices (animal health care and
clean milk production)
Sources: https://gain.fas.usda.gov/Recent%20GAIN%20Publications/Dairy%20and%20Products%20Annual_New%20Delhi_India_9-29-2016.pdf, https://www.researchandmarkets.com/research/r3dl38/the_indian_dairy,
https://www.bloomberg.com/news/articles/2017-10-03/tpg-seals-record-2-billion-for-rise-impact-fund-co-led-by-bono, http://therisefund.com/impact-measurement.html, http://www.dodladairy.com/images/2016-2017-Corporate-Profile.pdf
• Indian Dairy Industry has INR 5,000
billion valuation, composes >17% of
world production
• 60% of the market revenue from
milk and powdered milk
• 5% of revenue from higher margin
premium sector: yogurt, dahi,
cheeses
• Higher farm gate price for water
buffalo milk ($0.60-$0.67/L) than
cow milk ($0.37-$0.45/L) due to
higher fat and SNF content
• 30 key values aligned with UN Sustainable Development Goals
• Work with Bridgespan Group on refining impact reporting
• Data driven, quantifiable assessment
• CAC to LTV-cost of customer acquisition to revenue generated by
the customer (i.e. 1:3 ratio)
• Minimum threshold for impact multiple of money
$0
$200,000
$400,000
$600,000
$800,000
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Global Milk and Cream
Manufacturing Revenue ($M)
Dharma Humanitarian Solutions
35
Overview Management
• Started in 2015, Dharma is a fully-
integrated Software-as-a-Service
(SaaS) data platform that simplifies
data collection, management,
analysis, and visualization
• Information can be collected online
or off, and understood anywhere in
any language on any device
• Especially effective in low-resource
environments, and is currently
beginning to be used by Doctors
Without Borders and World Health
Organization
Jesse Berns, Co-Founder & CEO
Michael Roytman, Co-Founder &
Board Chair
Stefan Nagey, CTO
• Also currently Chief Data Scientist at Kenna
Security, a software-as-a-service Risk and
Vulnerability Intelligence platform
• Current Board Member and Program Director
of Society of Information Risk Analysts
• Forbes 30 under 30 Social Entrepreneurship
• Experienced field Epidemiologist and
Biostatician with the WHO and CDC
• Data scientist at the Impact Lab, a data
consultation firm for social concerns
Funding
• Founder of Inno.vote, a software that
provides accessible and secure elections
via the Internet to Governments
• Proven leadership record and executive
roles in digital creation and
communication
• Dharma doesn’t charge
Non-profits or NGOs for
the software, instead,
their revenue comes
through charging based on
how much data is used
• The Rise Fund led a Series A financing of $14.2
million
Dharma and The Rise Fund’s Vision
36
“Build businesses that accelerate digital
inclusion and leverage software and mobile
technology to drive efficiency, productivity,
and innovation in education, healthcare,
financial services, business operations, job
creation, media, and communications.”
•Market for Technology, Media, and
Telecommunications (TMT) was valued at $6
trillion industry as of 2013
•TMT is foundational, allowing for
simultaneous growth and benefits in other
sectors
By driving and simplifying data collection with Dharma, the Rise
Fund fulfills its vision of “driving global impact through
uncompromised business performance”.
• Data collection has a multifaceted impact in developing
areas, and also drives growth in other target sectors such
as healthcare
• Dharma has recently been tested and proven successful in extreme
situations such a rural medical clinics in Iraq, hurricanes Harvey and
Irma, and the humanitarian crisis in Syria
• Not exclusively for non-profits, NGOs, or areas under
immense strain, but also may be used by any company or
individual for their own data needs, thus driving revenue
through a variety of other sources.
Technology Sector Goal The Rise Fund’s Vision
37
Company	History
• Founded in 2008
• HQ in Washington, D.C.
• Recently acquired two, smaller
competitors: LawRoom &
Workplace Answers
• Current partnerships include:
• Google, big corps
• K-12 , Universities (16M
students)
EverFi: Education X Technology
Social	Mission
• For-Profit, For-Good
• Online coursework in:
• General education
• Financial literacy
• Harassment prevention
• Substance abuse
• Theory of Change: Break the
cycle of poverty and abuse
through mass education
Financial	Outlook	/	TPG’s	Vision
• Currently profitable and expanding
• High relative market share
• Series D: $190 M (TPG, RISE, Main St. Advisors, Jeff Bezos, etc.)
• Opportunities for Growth
• Impoverished areas of the United States (Cities, SE, Appalachia)
• Native American Reservations
• New partnerships with corporations to prevent harassment

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Fish Project

  • 1. Chris Prattos, Emily Albi, Daniel Delfico, James Driscoll, Luke Reilly, Ray Ren November 29th, 2017 1
  • 2. Agenda 2 Introduction History of the Fund Organizational Overview Fund Overview Selection Process Company Recommendation Conclusion Appendix Impact investing Overview Executive summary & Recommendation
  • 3. Team Introduction 3 Emily Albi Freshman Finance & Economics Daniel Delfico Sophomore Finance & Italian James Driscoll Junior Economics & Statistics Luke Reilly Sophomore Finance & Economics Chris Prattos Sophomore Business Analytics & ACMS Ray Ren Sophomore Finance & ACMS
  • 4. Agenda 4 Introduction History of the Fund Organizational Overview Fund Overview Selection Process Company Recommendation Conclusion Appendix Impact investing Overview Executive summary & Recommendation
  • 5. Executive Summary 5 Recommendation Management Collaborators Portfolio Companies Background Prospect the Rise Fund and prepare capital allocation to co-investment in the next open funding round or next impact focused fund • $3 billion -TPG Growth III,LP : Vintage year- 2015 with 13.7% Net IRR • $2 billion -TPG Growth II, LP : Vintage year- 2011 with 25.0% Net IRR • $74 million - Elevar Equity III : Vintage year – 2015 with undisclosed Net IRR • $74 million - Elevar Equity I: Vintage Year 2010 with undisclosed Net IRR Impact Investing Industry Industry continues to become more attractive as more experienced professionals business move into this space due to improvements in making social and fanatical impact • Bill McGlashan’s continued commitment to impact investing in emerging markets • Group of all star philanthropist, entrepreneurs, and professionals contributing their talents and resources
  • 6. Recommendation 6 We recommend: • Building a relationship and further prospecting TPG Growth • Prepare capital allocation for the next open funding round TBA • Co-Invest in TPG Growth with a 5-year horizon focused on U.S. VC with a sustainable impact Mutualistic relationship between collaborators, leadership team, and founders board Unique and holistic selection process of portfolio companies designed to manage and monitor to meet social and financial benchmarks Previous exits successes done by TPG Growth and other TPG funds
  • 7. Agenda 7 Introduction History of the Fund Organizational Overview Fund Overview Selection Process Company Recommendation Conclusion Appendix Impact investing Overview Executive summary & Recommendation
  • 8. Global allocation of Impact Investing funds is primarily centralized in USA. The Rise Fund has collaborators and investments worldwide to maximize their potential impact 82017 Annual Impact Survey
  • 9. The Impact investing space continues to grow as more professionals and opportunities increase within the industry, enabling most to capture market-like performance 9 Performance and Expectations2016-2017 Impact Investment Activity Based on the Annual Impact Investor Survey 2017, investors continue to be satisfied with the performance of their investments YOY Industry Progress & Challenges Professionals with relevant skill sets- 90% Research and data in Industry- 89% High-quality investment opportunities- 86% Appropriate capital across risk/return spectrum- 52% Common understanding of segmentation-47% Suitable exit option – 44% % Noting Progress % Noting Challenges 2017 Annual Impact Survey
  • 10. Agenda 10 Introduction History of the Fund Organizational Overview Fund Overview Selection Process Company Recommendation Conclusion Appendix Impact investing Overview Executive summary & Recommendation
  • 11. A number of people and organizations contribute diverse expertise to ensure successful investments of this $2 billion fund 11 TimelineHistory December 2016 Present Day Dec. 20 January 2017 Apr. 26 May 4 May 17 Aug. 15 • TPG Growth, the global growth equity and middle-market buyout platform of PE firm TPG, announces creation of the Rise Fund Rise Fund Press Release • Announces involvement of Elevar Equity and The Bridgespan Group as collaborators • Founders Board made up of 13 highly accomplished global philanthropist, activist, and business leaders Collaborators + Board Investments • Lead investor of series D round; 4 rounds; investment of $190 million; raised $251 million EverFi, Inc • Growth investment of $49.99 million; raised $70.14 million Dodla Diary limted • Venture round; 2 rounds; raised $12 million Brava Home, Inc. • Lead Investor of series A round; 2 rounds; raised $1.6million Dharma Humanitarian Solutions, LLC S&P CapIQ, TPG Growth Press Release, Crunchbase
  • 12. Agenda 12 Introduction History of the Fund Organizational Overview Fund Overview Selection Process Company Recommendation Conclusion Appendix Impact investing Overview Executive summary & Recommendation
  • 13. TPG Growth functions within TPG as the broader global alternative investment platform. Its past and continued success sets the stage for a very successful Rise Fund. 13 Background • Founded in 2007 to specialize in growth equity and middle- market buyout opportunities • Works with companies across the U.S, Europe, Africa, and Asia • Currently manages $8.4 billion in assets across a variety of sectors • High focus on engagement in sustainability and the community • Number of Exits: 14, Number of lead Investments: 26, Number of Investments: 62 TPG Growth Investments Past Performance of TPG funds Investment name Vintage year Investment Strategy Net IRR TPG Growth I, LP 2007 Buyout – Mid 10.6% TPG Growth II, LP 2011 Buyout - Mid 25.0% TPG Growth III, LP 2015 Buyout – Mid 13.7% TPG Partner IV, LP 2003 Buyout – Large 15.9% TPG Partner V, LP 2006 Buyout - Mega 5.5% TPG Partner VI, LP 2008 Buyout – Mega 13.3% As of September 29,2017 As of June 30, 2017 S&P CapIQ, Therisefund.com, Crunchbase, Lacers Portfolio Advisors, State of New Jersey- Department of the Treasury
  • 14. Elevar Equity functions as the perfect complement to TPG Growth for the Rise Fund due to its past successes and focus on Impact Investing in India 14 Background • Focused on generating investment returns by delivering essential services to disconnected communities • Investment Stage: Seed, Early Stage Venture, Late Stage Venture, Private Equity • The Elevar method: human centered venture capital- PEOPLE are the core of their investing experience • “We have led Investments in 30 companies across 7 countries who have serve over 20 million clients.” Past Funds • First institutional investor in 27 companies and the founding investor in 13 • Past funds • 11/11/15 – Elevar Equity III – 74 mil • 1/1/10 – Elevar Equity I – 74 mil • 1/1/07 – Elevar Equity Unitus Equity Fund – 24m • Number of Exits: 4 • Number of lead Investments: 13 • Number of Investments: 29 Elevar Equity companies Key Management Sandeep Farias: Founder and MD • 20 years of experience in diverse areas: emerging markets investing, microfinance, governance, organizational design and corporate law Johanna Posada: Founder and MD • Has 17+ years of experience in emerging markets investing, corporate finance, microfinance and economics S&P CapIQ, ElevarEquity.com, Crunchbase
  • 15. A partnership between TPG Growth and Elevar Equity will generate a mutually beneficial relationship 15 Collaborator Opportunity Collaborator Avoidance Collaborator Synergy Collaborator Opportunity Entrepreneurial Meritocracy Global Connections People Focused Proven Financial Performance Ideal Collaborator Fit Collaborator Alignment Boundary Social Responsibility
  • 16. Elevar Equites focus on investing in people along TPG Growth will help democratize essential services for millions of customers 16 John Pleasants, CEO • Specialty: Consumer technology industry • Bachelors at Yale & M.B.A at Harvard • Former EVP of Media Solutions at Samsung • Former CEO of Ticketmaster from 1999-2005 • Former Co-President of Disney Interactive Media Group • Handled development & launch of Disney Infinity Jesse Berns, Co-Founder & CEO • Specialty: Epidemiologist and Biostatician, Data science • UC Berkeley in Epidemiology & Biostatistics • Director at the Impact Lab in D.C • Epidemiologist Consultant for World health Org. Iraq • Data scientist at the Impact Lab, a data consultation firm for social concerns BVK Reddy, CEO • Specialty: Dairy Industry • 30 years of experience in the dairy industry • Osmania University in Dairy Technology • Has collaborated in the past with Cornell University • Travels globally to remain updated on all latest dairy-related developments Tom Davidson, Co-Founder & CEO • Specialty: Education Technology • BA at Bowdoin College • 20 years of experience in the education technology industry • Youngest committee chair of the Utilities and Energy Committee in Maine • Top 100 Entrepreneur Innovator by EY and GS
  • 17. Agenda 17 Introduction History of the Fund Organizational Overview Fund Overview Selection Process Company Recommendation Conclusion Appendix Impact investing Overview Executive summary & Recommendation
  • 18. Overview of The Rise Fund Leadership Bill McGlashan: Founder and MP of TPG Growth • MD and MP of TPG Capital (joined in 2006) • Has founded and served in executive roles of various companies, including STX Entertainment, Pharmanex, LLC., Vectis Group, LLC. Michael Stone – Chief information officer • Senior Advisor and Partner at TPG Growth • Founder and Managing Member of Freestyle Capital and Freestyle Investors • Started Career in management consulting at Bain & Company Jeff Skoll: One of the largest backers of social entrepreneurs • Canadian engineer, internet entrepreneur and film producer. He was the first employee and subsequently first president of eBay, Paul David Hewson or Bono! • Irish singer-songwriter, musician, venture capitalist, businessman, and philanthropist. He is best known as the lead vocalist and primary lyricist of rock band U2. Founders board Team behind the Steam Collaborators: TPG Growth, Elevar Equity, and The Bridgespan Group Leadership: 10 highly skilled and experienced professionals Founders Board: 13 highly accomplished global philanthropist and business leaders leadership S&P CapIQ, Therisefund.com, Crunchbase, Bloomberg Founders Board Collabora- tors
  • 19. Agenda 19 Introduction History of the Fund Organizational Overview of Collaborators Fund Overview Selection Process & Sector Involvement Company Recommendation Conclusion Appendix Impact investing Overview Executive summary & Recommendation
  • 20. Evidence-Based Impact Investing Quantitative Metrics End-to-end assessment TPG Growth plans to make its unique approach of measuring financial and social impact public, as a “blueprint” for others to follow 20 Examples of “Evidence-Based Impact Investing” • The Rise Fund was able to track the increase in household income achieved by farmers who sell Dodla Dairy milk to determine the company’s value as a potential investment • With Everfi Inc., TPG quantified the savings related to health-care and legal costs that result from participation in the firm’s education programs on topics such as sexual assault prevention S&P CapIQ, Therisefund.com, Crunchbase, Bloomberg • Defined 30 key metrics, aligned with UN Sustainable Development Goals • Enables impact to be achievable and measurable through quantifiable assessment • Partnered with the Bridgespan Group to create rigorous set of metrics for measuring impact • Quantify in dollar amount to evaluate impact & financial performance • Sourcing- Invest in companies that fit investment criteria • Diligence- Quantitatively estimate potential impact • Investment- Manage & monitor investments • Exit- Assess & report impact Impact Metrics Traditional growth- equity metrics •CAC to LTV •Cash flows •Expense control Rise Specific Metrics •Impact Multiple of Money threshold •Company specific metrics •Third party providers to asses and enhance impact
  • 21. TPG Rise Fund’s 7 Sector Focus 21 Build businesses that help reduce hunger, increase food security, and promote sustainable agriculture. Build businesses that expand access to educational attainment, boost educational achievement, and strengthen pathways to employment. Build businesses that enable affordable, reliable, sustainable, and modern energy for all. Build businesses that expand financial inclusion, with the goal of reducing poverty by increasing household and small business earnings and enabling access to essential services. Build businesses that reduce the cost of health care, increase access to high-quality health services and health-saving interventions, and decrease malnutrition, Build businesses that accelerate digital inclusion and leverage software and mobile technology to drive efficiency, productivity, and innovation in education, etc Build business that provide stable, affordable housing, efficient transportation, and low-cost input materials for the production of basic goods. Therisefund.com
  • 22. Current sector involvement 22 Energy Agriculture and Food • Brava Home manufactures ovens that use 90% less energy than conventional ovens, making such appliances a viable solution for reducing household energy consumption and emissions • Brava CEO John Pleasants says that devices such as the smart oven fit into the company’s plan to, “build a system that makes it easier to cook and eat well at home.” Dodla Initiatives • Access to affordable animal feed for farmers • Helped more than 2300 farmers secure funding • GRPS enabled electronic milk analyzers which generate reports and enable quick payment disbursement • Free workshops on best farming practices (animal health care and clean milk production)
  • 23. Current sector involvement 23 • By driving and simplifying data collection with Dharma, the Rise Fund fulfills its vision of “driving global impact through uncompromised business performance” • Dharma has recently been tested and proven successful in extreme situations such a rural medical clinics in Iraq, hurricanes Harvey and Irma, and the humanitarian crisis in Syria Dharma Humanitarian Solutions Social Mission • For-Profit, For-Good • Online coursework in: • General education • Financial literacy • Harassment prevention • Substance abuse • Theory of Change: Break the cycle of poverty and abuse through mass education Financial Outlook / TPG’s Vision • Currently profitable and expanding • High relative market share • Series D: $190 M (TPG, RISE, Main St. Advisors, Jeff Bezos, etc.) • Opportunities for Growth: Impoverished areas, Native American Reservations, and corporate partnerships
  • 24. Agenda 24 Introduction History of the Fund Organizational Overview of Collaborators Fund Overview Selection Process & Sector Involvement Company Recommendation Conclusion Appendix Impact investing Overview Executive summary & Recommendation
  • 25. A financial services or infrastructure focused social enterprise would add value and diversity to the Rise Fund’s portfolio 25 Selection Criteria Must be in one of the untouched sector Fit with the Rise Fund’s vision Has a social and financial focus Has a large opportunity for growth Impacts a region outside of USA Possible Investments
  • 26. 26 Company History • Founded in 2011 • HQ in NYC, regional office in Tanzania. Operates in emerging markets. • May 2016 announces partnership with microfinance leader FINCA (6 African countries) Investment Opportunity: Firstaccess Social Mission • Technology predicts the credit risk of borrowers in informal markets • Theory of Change: reduce cost of capital and spur development in emerging markets through increased lending Financial Outlook / TPG’s Vision • Series A (Nov 2017): $7M from Bamboo Capital Partners, Impact Engine, and Accion Venture Lab, 500 FinTech, etc. • Technology serves to reduce risk, lower costs, increase speed of loan decisions, and expand pool of eligible borrowers internationally • Opportunities for Growth: • 77% of African adults remain excluded from the formal financial system • Mobile phones = faster, easier outreach
  • 27. Agenda 27 Introduction History of the Fund Organizational Overview of Collaborators Fund Overview Selection Process & Sector Involvement Company Recommendation Conclusion Appendix Impact investing Overview Executive summary & Recommendation
  • 28. Summary of Key Factors 28 Team behind the steam • Combined talent and experience of the collaborators, leadership team, and founders board • Capable of global reach, management and monitoring of ideal companies Proven Performance • TPG Growth’s funds I-III have an averaged net IRR of 16.4% • Elevar Equity & the Bridgestone Group have been successful in their own pursuits Impact Measurement • Combination of traditional growth equity metrics and quantitative metrics produced by The Bridgestone Group • End-to-end assessment and management of investments to ensure the companies reach impact and financial benchmarks
  • 29. Agenda 29 Introduction History of the Fund Organizational Overview of Collaborators Fund Overview Selection Process & Sector Involvement Company Recommendation Conclusion Appendix Impact investing Overview Executive summary & Recommendation
  • 30. Appendix A: Portfolio Companies 30
  • 31. Brava Home Inc. 31 • Brava Home Inc. is a domestic Internet of Things company that integrates automation technology into the home, with a focus on developing kitchen appliances • Brave Home operates in the Household Appliance space of the Consumer Discretionary industry • The company was founded in 2015 and is based in Newark, California • Brava Home is an early stage venture that has raised a total of $12M, having recently completed a round of Series B funding • Investors include Lightspeed Venture Partners, True Ventures, Lead Edge Capital Management, as well as TPG Funding Revenue and Growth Management Team Investment Highlights John Pleasants, CEO • John Pleasants is a long time Silicon Valley executive and veteran of the consumer technology industry • Former CEO of Ticketmaster from 1999-2005 • Joined Brava as a CEO from Samsung where he was the head of Executive Vice President of Media Solutions • Also has held executive positions at Playdom and Electronic Arts Thomas Cheng, Co-Founder & CTO Dan Yue, Co-Founder & CPO • Thomas Cheng is a serial hardware entrepreneur with more than a decade of IoT experience • He was the co-founder of the company Streetline Networks, where he led development of what was formerly the largest commercial sensor network • Has authored a multitude of patents • Dan Yue was the co-founder of Playdom, one of the leading developers of social games for Facebook • He also co-founded Green Chef, an organic ingredient and recipe delivery service • Brava has developed technology-enabled appliances with strong capabilities, like an oven that uses 90% less energy than a conventional oven • Recent trends in healthy eating have sparked demand for and funding of companies that produce food related technologies •TechCrunch, a news source for technology startups, reported that Brava is “building a system that makes it easier to cook and eat well at home.”
  • 32. Brava and TPG’s Vision Brava and TPG’s Vision The Energy Sector Due to the contribution of current power sources to climate change, demand for renewables and energy efficient products is increasing, leading to an increase in investment opportunity and profitability within the sector. Sector Leadership Other Investments Mission: Build businesses that enable affordable, reliable, sustainable, and modern energy for all. • In 2014, TPG’s Alternative and Renewable Technologies (ART) fund invested in Ebes • Ebes is a Brazilian downstream solar company that manufactures and engineers, installs, integrates, and operates photovoltaic systems for customers Rick Needham, Energy Sector Lead • Served as the Director for Energy & Sustainability at Google from 2008 to 2016 • Led several projects in clean energy as Vice President of Business Development at DEKA The Energy Problem • Over two billion people lack access to reliable energy • 60% of African businesses say inadequate or unreliable energy impedes their growth The Solution • The energy industry is expected to require $48 trillion of investment by 2035 • $6 trillion of that investment will go toward renewables • Despite the abundance of potential for renewable energy resources, many people rely on both dangerous and potentially toxic sources of energy, such as fossil fuels, coal, kerosene, and animal waste • By investing in businesses that are dedicated to providing cleaner energy sources, TPG believes they can provide them with the capital that will empower them to develop the technologies that will improve our energy system Energy Agriculture and Food Brava Home manufactures ovens that use 90% less energy than conventional ovens, making such appliances a viable solution for reducing household energy consumption and emissions Brava CEO John Pleasants says that devices such as the smart oven fit into the the company’s plan to, “build a system that makes it easier to cook and eat well at home.” Impact Potential
  • 33. 33 Dodla Diary Limited Overview Chairman: D. Sesha Reddy has more than 40 years of industry experience in assorted capacities Management Industry 2017 Performance • Headquartered in Hyderabad City, Telangana State, India • Produces, processes, and sells milk products in 9 states of India • Products include Fresh Milk, Butter, Ghee, Paneer, Curd, Flavoured Milk, Doodh Peda, Ice Cream and Skimmed Milk Powder • Focus on new technologies and processes • Key values of hard work, integrity, transparency, sincerity, honesty, and commitment Managing Director: D. Sunil Reddy entered the diary industry in 1995 and has agricultural background CEO: BVK Reddy joined Dodla in 1997 and plays key role in directing company strategy • Standalone revenue of ₹ 1,411.46 Crores during FY 2017 against ₹ 1,182.01 Crores in FY 2016. • After tax profit of ₹ 44.39 Crores as against ₹ 35.57 Crores • New Hyderabad plant commencing production • Increased retail outlets to 65000 • Overseas production in Uganda • RISE invested $50M in Dodla • Help upstream milk supplying farmers gain access to affordable animal feed and veterinary services • Helped more than 2300 farmers secure funding to expand production • Corporate responsibility agenda
  • 34. Dodla Dairy Limited 34 Industry Overview TPG Vision Dodla Initiatives Measurable Impact • Reduce world hunger, increase food security, and promote sustainable agriculture • Agriculture-driven growth effectively reduces poverty • India has the most dairy farmers worldwide • Measures rise in farmer income achieved with the help of Dodla • Dodla’s procurement strategy and local influence helps alleviate rural poverty • Access to affordable animal feed for farmers • Helped more than 2300 farmers secure funding • Strict quality checks through the supply chain at collection centers, chilling centers, and processing centers • GRPS enabled electronic milk analyzers which generate reports and enable quick payment disbursement • Free workshops on best farming practices (animal health care and clean milk production) Sources: https://gain.fas.usda.gov/Recent%20GAIN%20Publications/Dairy%20and%20Products%20Annual_New%20Delhi_India_9-29-2016.pdf, https://www.researchandmarkets.com/research/r3dl38/the_indian_dairy, https://www.bloomberg.com/news/articles/2017-10-03/tpg-seals-record-2-billion-for-rise-impact-fund-co-led-by-bono, http://therisefund.com/impact-measurement.html, http://www.dodladairy.com/images/2016-2017-Corporate-Profile.pdf • Indian Dairy Industry has INR 5,000 billion valuation, composes >17% of world production • 60% of the market revenue from milk and powdered milk • 5% of revenue from higher margin premium sector: yogurt, dahi, cheeses • Higher farm gate price for water buffalo milk ($0.60-$0.67/L) than cow milk ($0.37-$0.45/L) due to higher fat and SNF content • 30 key values aligned with UN Sustainable Development Goals • Work with Bridgespan Group on refining impact reporting • Data driven, quantifiable assessment • CAC to LTV-cost of customer acquisition to revenue generated by the customer (i.e. 1:3 ratio) • Minimum threshold for impact multiple of money $0 $200,000 $400,000 $600,000 $800,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Global Milk and Cream Manufacturing Revenue ($M)
  • 35. Dharma Humanitarian Solutions 35 Overview Management • Started in 2015, Dharma is a fully- integrated Software-as-a-Service (SaaS) data platform that simplifies data collection, management, analysis, and visualization • Information can be collected online or off, and understood anywhere in any language on any device • Especially effective in low-resource environments, and is currently beginning to be used by Doctors Without Borders and World Health Organization Jesse Berns, Co-Founder & CEO Michael Roytman, Co-Founder & Board Chair Stefan Nagey, CTO • Also currently Chief Data Scientist at Kenna Security, a software-as-a-service Risk and Vulnerability Intelligence platform • Current Board Member and Program Director of Society of Information Risk Analysts • Forbes 30 under 30 Social Entrepreneurship • Experienced field Epidemiologist and Biostatician with the WHO and CDC • Data scientist at the Impact Lab, a data consultation firm for social concerns Funding • Founder of Inno.vote, a software that provides accessible and secure elections via the Internet to Governments • Proven leadership record and executive roles in digital creation and communication • Dharma doesn’t charge Non-profits or NGOs for the software, instead, their revenue comes through charging based on how much data is used • The Rise Fund led a Series A financing of $14.2 million
  • 36. Dharma and The Rise Fund’s Vision 36 “Build businesses that accelerate digital inclusion and leverage software and mobile technology to drive efficiency, productivity, and innovation in education, healthcare, financial services, business operations, job creation, media, and communications.” •Market for Technology, Media, and Telecommunications (TMT) was valued at $6 trillion industry as of 2013 •TMT is foundational, allowing for simultaneous growth and benefits in other sectors By driving and simplifying data collection with Dharma, the Rise Fund fulfills its vision of “driving global impact through uncompromised business performance”. • Data collection has a multifaceted impact in developing areas, and also drives growth in other target sectors such as healthcare • Dharma has recently been tested and proven successful in extreme situations such a rural medical clinics in Iraq, hurricanes Harvey and Irma, and the humanitarian crisis in Syria • Not exclusively for non-profits, NGOs, or areas under immense strain, but also may be used by any company or individual for their own data needs, thus driving revenue through a variety of other sources. Technology Sector Goal The Rise Fund’s Vision
  • 37. 37 Company History • Founded in 2008 • HQ in Washington, D.C. • Recently acquired two, smaller competitors: LawRoom & Workplace Answers • Current partnerships include: • Google, big corps • K-12 , Universities (16M students) EverFi: Education X Technology Social Mission • For-Profit, For-Good • Online coursework in: • General education • Financial literacy • Harassment prevention • Substance abuse • Theory of Change: Break the cycle of poverty and abuse through mass education Financial Outlook / TPG’s Vision • Currently profitable and expanding • High relative market share • Series D: $190 M (TPG, RISE, Main St. Advisors, Jeff Bezos, etc.) • Opportunities for Growth • Impoverished areas of the United States (Cities, SE, Appalachia) • Native American Reservations • New partnerships with corporations to prevent harassment