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Elena Casolari, OPES Impact Fund

Shadows and lights - a challenging dialogue between capital market and the mother of all industries

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Elena Casolari, OPES Impact Fund

  1. 1. Pieter Bruegel, 1563
  2. 2. opes impact fund finance for development S3 an enabling nest to fuel investment capital to energy social enterprises
  3. 3. a “new saffron revolution” president Modi “re-Invest” summit world bank’s lighting africa program obama “power africa” electrifi (EU) 20 bln $ jv (softbank - bharti and foxconn tech) impact investing responsability debt dedicated fund 30 bln $ calstrs 3.7 bln $ university of california 1 bln $ dedicated crowdfunding platforms “smart power for rural development” initiative (rf 75 mln $)
  4. 4. a growing “momentum” for energy investments Total AUM by sector n=145; AUM-weighted average; Total AUM=USD 60bn Change of allocation planned over the next year, by sector Ranking by number of respondents who chose “increase” 27% 26% 27% 10% 5% 5% Housing Other Financial services (including Microfinance) Energy Healthcare Food & Agriculture Source: GIIN, J.P. Morgan Global Social Finance Eyes on the Horizon 04 May 2015
  5. 5. • A growing appetite for social products (LOHAS market) • A new evolution of CSR • Impact investing megatrends effecting all industries
  6. 6. finding of joint activity led by selco
  7. 7. Expectations Realities Periods of turnaround 3-4 years 5-10 years Scale Expansion and results oriented Process and results oriented Exits 5 years 8-10 years IRRs 15% 5% Cost of raising capital 1-3% and 6-12 months 5% and 12-18 months Impact Hype around surface level data Wide and deep reach in communities Investment Expectation Gaps Source: Selco
  8. 8. Pathways to move forward • Understanding and acknowledging field complexities and realities • Articulating realistic expectations for time horizons, scale, and returns • Recruiting talent based on experience and sensitivity to the needs of the poor, over educational qualifications • Aligning investments with the realities of ecosystems and market potential • Integrating language and clauses in term sheets to prevent mission drift • Perpetuating learnings to stakeholders in the market through training and course material • Advocating for policy to stimulate sustainable investment and business models over the long-run • Understanding the role of hybrid capital Source: Selco
  9. 9. cor porations found ations multinat ionals government s Social enterpris es un ngos finan cialinstitution s internationa lagencies impact investors incubators research centers