1. AgroFirma ™
fde3@georgetown.edu
An Impact Investment Fund by Frank Maia

2. An Overview
Our Fund is …
• Private Investment Limited Partnership (limited number of investors)
• Developing and Emerging Market Economy, Commodities, Equity
• Patient Capital with 7 year lock-up period (Bi-annual withdrawals)
And then …
• Market Rate Minimum Financial Return
• Measurable Social Outcomes

3. a Macro
Perspective
I. Regional Grounding
II. The Family-Farm
III. Disparity and Poverty
IV. Opportunity

4. Here’s how it works
Choose
Farmland,
produce, and
strategy
Identify
farmer and
competitive
advantage
Build
Agreement &
Relationship
with
stakeholders
Invest
Up to $100K
combined with
community
expertise
Impact
Increase small-
hold farmer
living and
working
conditions
ImpactInvestBuildChooseIdentify

5. • Small-hold
Farmers in
developing
markets
Investee
• IFC
• Foundations
• HNI&F
Investor • Manufacturers
• Supermarkets
• Chain Stores
Vendor
Investor
Demographics
Patient Capital
commitment
Here’s how it works (cont’d):
Small Lot Holder
Own/Operate
farms of up to 3
hectares
(7.4 acres)
Market
Fair, Responsible,
Competitive &
Quality
Conscious

6. Stay
Lean to save on
costs &
accelerate
decisions
Be
Leaders in
market niche
products
Take
Ideas &
Technologies
between
channels
Globalize
Actions
regardless of
nationality
(Ubuntu)
Develop
Customer
Relationship
channels
How we retain the Market

7. REVENUES Year 1 Year 2 Year 3
LP Commitments $ 1,550 $ 900 $ 850
GP Commitments $ - $ - $ -
Total Revenues $ 1,550 $ 900 $ 850
Financial Projections
OPERATING
EXPENSES
Year 1 Year 2 Year 3
Salaries & Wages 100K/mgr. $ 200 $ 200 $ 200
Insurance 15K/farm $ 45 $ 90 $ 150
Administrative
Local Office
(incl. Rent & Utilities)
5K/month $ 60 $ 60 $ 60
Salaries & Wages 1K/empl. 36 50 50
Marketing (incl.
Travel)
5K/trip 50 50 50
Total Period Costs $ 391 $ 450 $ 510
Management Fees 3% $ 99 $ 99 $ 99
Total Costs $ 490 $ 549 $ 609
40%
45%
10%
5%
Source of Funds
Foundations
Large Financial
LP's
GP's

8. Imp
act
Outcome
Year One
Increase in
family income
Sustainable
Cultivated
Land Area
Decrease in
Farming Loss
Outcome
Year Two
Increase in Living
Conditions
Payments to
Supplier
Individuals
Relative
Increase/Decrease
in farming
expenses
Outcome
Year Three
Increase in Net
Worth
Increase full-time
employment in
farming
Increase player
advantage
Build Invest Impact
SELF-REPORT,
VALUE OF
PAYMENTS & TAX
STATEMENTS
HECTARES UNDER
SUSTAINABLE
CULTIVATION
CAPACITY VS
TRADE METRICS

9. AgroFirma™
An Impact Investment Fund by Frank Maia

10. Appendix A

11. Appendix B

12. SWOT analysis
Strengths
Profit Advantage
Organic Products
Economies of Scale
Weaknesses
Competitive Pressures
Declining Population
Excess Capacity
Opportunities
Reverse Innovation
Exclusive Information
Tax Benefit
Threats
Overproduction
Saturated Markets
Policy
Appendix C

13. Financial StatementsAppendix E
Revenues Year 1 Year 2 Year 3
LP Commitments
Gains / (Losses) on Equity Investments $ - $ - $ -
George Soros Funds $ 500 $ 250 $ 250
Other Foundations 620 360 340
Large Financial (IFC) 697.5 405 382.5
Limited Liability Partners 155 90 85
GP Commitments $ 77.5 $ 45 $ 42.5
Total Revenues $ 1,550 $ 900 $ 850
Operating Expenses Year 1 Year 2 Year 3
Salaries & Wages 100K/manager $ 200 $ 200 $ 200
Insurance 15K/farm $ 45 `$ 90 $ 150
Administrative
Office & Equipment
(incl. Rent & Utilities)
5K/mth $ 60 $ 60 $ 60
Salaries & Wages 1K/empl. 36 50 50
Marketing (incl. Travel) 5K/trip 50 50 50
Total Period Costs $ 391 $ 450 $ 510
Investing Activities Year 1 Year 2 Year 3
Interest Revenue $ - $ - $ -
Interest Expense $ - $ - $ -
Extraordinary items $ 59 $ 30 $ 10
Disbursement(s) Year 1 Year 2 Year 3
Farm 1
Cost of Land - class A 15K/hectare $ 45,000 $ - $ -
Equipment $ 25,000 $ 15,000 $ 15,000
Farm 2
Cost of Land - class A 15K/hectare $ 45,000 $ - $ -
Equipment $ 25,000 $ 15,000 $ 15,000
Farm 3
Cost of Land - class A 15K/hectare $ 45,000 $ - $ -
Equipment $ 25,000 $ 15,000 $ 15,000
Farm 4
Cost of Land - class A 15K/hectare $ - $ 45,000 $ -
Equipment $ - $ 30,000 $ 25,000
Farm 5
Cost of Land - class A 15K/hectare $ - $ 45,000 $ -
Equipment $ - $ 30,000 $ 25,000
Farm 6
Cost of Land - class A 15K/hectare $ - $ 45,000 $ -
Equipment $ - $ 30,000 $ 25,000
Farm 7,8,9,10
Cost of Land - class A 15K/hectare $ - $ - $ 180,000
Equipment $ - $ - $ 200,000
Totals $ 210,000 $ 270,000 $ 500,000
Logistics 100K/truck $ - $ 500 $ 500

14. Historical Performance
Appendix D

15. Sources
“Family Farms in Macedonia” - Macedonia Ministry of Agriculture,
Forestry and Water Economy
http://www.enterprisesurveys.org/~/media/GIAWB/EnterpriseSurveys/
Documents/EnterpriseNotes/Trade-19.pdf
ConCap Connective Capital (ConCap)
Food and Agriculture Organization of the United Nations (FAO)
http://www.sec.gov/
https://www.blackrock.com/investing/
http://web.worldbank.org/archive
Special Thanks
Ljupco Buntevski family
Stefan Palankov family
Photo credits
Google Images
& Bing Search
All credit to beauty-
places.com/ &
http://www.lowcarbdi
etworks.com/