This document discusses the growth opportunities in frontier and emerging markets and an alternative investment model for development. It notes that GDP growth rates are much higher in frontier and emerging markets compared to developed markets. While aid has not proven effective, private equity investment that focuses on positive outcomes for local stakeholders can be a sustainable model for development. The document outlines Sarona Asset Management's vision and approach to impact investing through their private equity funds, which emphasize environmental, social and governance criteria.
La informacion mas completa de Mexico, Oaxaca y la Costa chica. Denuncian fraude en Salud en Puerto Escondido. Empresas oaxaqueñas denuncian fraudes de ICA y MT de Oaxaca.
La informacion mas completa de Mexico, Oaxaca y la Costa chica. Denuncian fraude en Salud en Puerto Escondido. Empresas oaxaqueñas denuncian fraudes de ICA y MT de Oaxaca.
India Startup Nation - 3one4 Capital Dec 20233one4 Capital
India is now the third-largest startup ecosystem globally. It has 107 unicorns as we end 2022, having passed 85 unicorns over CY 2021 and adding 13 more over JFM 2022. India is now only behind the US at 489 and China at 222.
This is the decade that consumers across the country will have embraced tech-led solutions for their daily needs, India’s businesses will exploit tech to future-ready their operations and support the shift towards a self-reliant economy, and tech becomes mainstream. With over 800 million Indians on the Internet and over 400 million millennials in the country, this is now the second-largest and youngest Internet population globally. The mass migration of daily spending - from education and entertainment to groceries and health - to digital products and services has meant that the Internet TAM is larger than most people assumed.
This ecosystem has been on a compounding evolution over a decade and is built on top of pillars such as the India Stack (Aadhar for digital identity, UPI for no-cost payments) and other Digital Public Goods (DPGs), as well as innovations in low-cost internet access. With the deep involvement of industry leaders and a long-term policy commitment, these DPG systems were architected as public utilities to support the development of products, services, and platforms. Today, Indians own 1.2 billion unique Aadhar accounts, 1 billion bank accounts, and 900 million mobile connections. This has truly created an interconnected India, and a welcoming active install base of customers for startups.
India's Internet TAM (total addressable market) has most definitely seen a rapid and welcome expansion – lending fundamental support to the perceived value to be captured by its digital winners.
India is the theatre of step-function growth this decade.
Some cities will outperform entire countries in absolute growth terms, highlighting the need for different resource allocation in certain regions vs. others.
Gartner confirms the 2008-09 financial crisis has triggered widespread adaptation of BPO and shared services by European countries and corporations. Presentation for the Shared Services and Outsourcing Exchange in Europe.
What is SoLoMo, and why is it important for marketers? We explore the reasons why location-based mobile social is gaining momentum all over the world, and share 7 case studies of best-in-class SoLoMo marketing.
For more information contact: emailus@marcusevans.com
Fabrice Jacob who is the CEO at JK Capital Management Ltd. and shared his presentation titled "Demystifying the Dragon: Myths and Realities of Investing in China" at the marcus evans European Pensions and Investments Summit on 12, May 2012.
Join the 2015 Summit along with leading regional pension investors and global asset managers in an intimate environment for a focused discussion of key new drivers shaping institutional investment strategies today.
For more information contact: emailus@marcusevans.com
South Korea Consumer Trends Report by daxue consultingDaxue Consulting
After experiencing decades of rapid economic growth, South Korea has established itself as a trend-setting nation, with the Hallyu (Korea wave) spreading its pop culture worldwide. This report on South Korea consumer trends covers three key industries of beauty, food and beverage, and travel, along with retail and digital trends that shape not only what, but how Koreans consume.
Download to learn:
- How Korean demographics are changing, and the impact on consumption
- Household consumption trends and breakdown in Korea
- Societal changes and the dynamic between traditional culture and new ideas
- In-depth analysis of Kbeaty, F&B, and travel industries
- Deep dives into consumer ideology and trend-chasing
Key stats on Korean consumption:
- South Korea’s per capita GDP is $34,990 (USD), which is lower than Japan but higher than Spain
- Most household consumption is spent on food and beverage products, at 15.9%, followed by restaurants and hotels at 13.5%
- 27% of South Koreans live alone, which gives rise to convenience meals, single travel, and digital entertainment.
- As of 2020, 82% of South Koreans are urbanites (Compared to China’s 64.7% living in urban areas)
Demographically speaking, the world is breaking into "aging" and "growing societies". The latter are at the same time posting the strongest economic growth. These dynamics may create potential investment opportunities.
Similar to Vivina Berla, Sarona Asset Management – "Security, Stability and Sustainability" handout version (20)
TBN trustees Ralph Catto and Andrew Carruthers pitch an idea for a new direction for TBN in which it plays a bigger role in match-making between entrepreneurs and opportunities and investors, funds, family offices and institutions.
Norman talked about the funding gap in emerging Europe and the potential poverty trap many entrepreneurs can find themselves in. Angello Capital Partners target SMEs and is already investing in businesses in Moldova.
Martin Zuch came from a financial background and now runs Beesweet, a company producing and selling honey and it's by-products in Zambia. He talked us through the opportunities, challenges and lessons learned from his experiences there.
Steve Beck gave an overview of the changing attitudes towards the fight against poverty, the role of the private for-profit sector in development and the growth of the Social Venture Capital sector. He also gave 3 examples of successful investments made into businesses that are directly impacting poverty.
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Vivina Berla, Sarona Asset Management – "Security, Stability and Sustainability" handout version
1. Security, Stability and Sustainability
Making a Positive Difference in Frontier and Emerging Markets
TBN Annual Conference - London, 25 May 2012
This presentation does not constitute an offer to sell, or a solicitation to buy, any interest. Any such offer or solicitation will be made to qualified investors only by means
of a final offering memorandum and only in those jurisdictions where permitted by law
2. NOTICE TO INVESTORS
The limited partnership interests (the “Interests”) in Sarona Frontier Markets Fund 2 LP (the “Fund”) will be offered pursuant to exemptions
from the prospectus and registration requirements of applicable securities laws in the United States. As a result, the Interests in the Fund
will be subject to restrictions on their transfer under applicable securities laws. In addition, the terms of the Fund’s limited partnership
agreement will also contain restrictions on the transfer of these Interests.
All of the statements made and information contained herein concerning the Interests are qualified in their entirety by reference to the final
offering memorandum and limited partnership agreement for the Fund.
In making an investment decision, investors must rely on their own examination of the Fund and the terms of the offering, including the
merits and risks involved. The securities offered hereby have not been recommended by any federal, state or provincial securities
commission or regulatory authority. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the adequacy
of this document. Any representation to the contrary is a criminal offense.
The Interests in the Fund are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted
under the United States Securities Act of 1933, as amended, and applicable state securities laws, pursuant to registration or exemption
therefrom. Investors should be aware that they will be required to bear the financial risks of this investment for an indefinite period of
time.
Investment objectives stated herein are goals based on historical results of Sarona’s funds and their typical gross and net exposures. There is
no guarantee that Sarona’s funds actually will, or are likely to, achieve these objectives.
This summary is for illustration and discussion purposes only and is not intended to be, nor should it be construed or used as, financial,
legal, tax or investment advice or an offer to sell, or a solicitation of any offer to buy, an interest in any fund. Sarona Asset Management, Inc.
(“Sarona”) acts as investment manager to the Fund. Any offer or solicitation of an investment in any fund managed by Sarona may be made
only by delivery of a fund’s Confidential Offering Memorandum to qualified prospective investors.
This presentation is provided to you on a confidential basis. This presentation may not be reproduced in whole or in part, nor may its
contents be disclosed to any other person without the prior written consent of Sarona.
2 Confidential
4. THE WORLD IS CHANGING
GDP Growth Rates are Diverging
8.0%
Frontier & Emerging Markets
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
Developed Markets
0.0%
1965 1975 1985 1995 2005
Source: World Bank (2011)
Sarona at TBN Annual Conference, London 25 May 2012 Confidential
5. THE WORLD IS CHANGING
2000-2030 GDP Annual Growth Rates
7.1%
0.9%
Developed World Sarona Target Regions
Source: World Bank (2012), OECD (2012)
Sarona at TBN Annual Conference, London 25 May 2012 Confidential
6. THE WORLD IS CHANGING
Share of Nominal GDP
2010 2030
17%
31%
5% 39%
78%
30%
Developed Countries
Russia & China
Sarona Target Regions Source: World Bank (2012), OECD (2012)
6 Sarona at TBN Annual Conference, London 25 May 2012 Confidential
7. THE WORLD IS CHANGING
The Phenomenon of Urbanization
• “Population growth and rapid
urbanization mean creating the
equivalent of one new city of one million
people every week to 2050”*
• In 2010, 33% of the urban population in
developing regions lived in slums**
- Sub-Saharan Africa 62%=200 million
people
- Southern Asia 35% =190 million
people
*The Anthropocene Journal, March 2012
** UN HABITAT State of the World’s Cities 2010/2011
Sarona at TBN Annual Conference, London 25 May 2012 Confidential
8. THE WORLD IS CHANGING
The Rising Middle Class : An Engine for Growth
80
70 Middle Class as % of Global Population
60
50
40
30
20
10
0
1500 1600 1700 1820 1913 1950 1980 2005 2025
Source Chart 1: Surjit S. Bhalla, “Second Among Equals: The Middle Class Kingdoms of India and China”, May 2007
Sarona at TBN Annual Conference, London 25 May 2012 Confidential
9. THE WORLD IS CHANGING
SME contributions to GDP
37% 30% 36%
16%
39%
51%
47%
31%
13%
Low Income Countries Middle Income Countries High Income Countries
Informal SME Remaining
Source Chart 2: Small and Medium Enterprises Across the Globe: A new Database, Ayyagari, Beck & Demirguc-Kunt, the World Bank
Development Research Group, August 2003: "Venture Capital for Development" Patricof & Sunderland, August 2005
9 Sarona at TBN Annual Conference, London 25 May 2012 Confidential
10. AID IS NOT ‘THE’ SOLUTION
Aid and Growth 1970-2000
10 year moving average
% %
Growth/GDP per capita
Aid/GNI
Source: ECIPE Analysis of World Development Indicators Online
Sarona at TBN Annual Conference, London 25 May 2012 Confidential
11. AID IS NO LONGER WELCOME
The American – Journal of the American Enterprise Institute
3 July 2007
$300 billion to Africa since 1970:
“….there is little to show for it in terms of
economic growth and human
development”
Paul Kagame
President of Rwanda
(Brendhurst Foundation Discussion Paper 2007)
Sarona at TBN Annual Conference, London 25 May 2012 Confidential
12. THE UNINTENDED CONSEQUENCES OF AID
• Fosters dependency
• Distorts markets
• Does not increase tax base
• Misaligns incentives
• Is characterized by fickle capital flows
• Rarely yields scalable, sustainable impact
• Undermines accountability between government and its citizens
• Encourages the best and brightest in “recipient” countries to work for government
or international NGOs
Sarona at TBN Annual Conference, London 25 May 2012 Confidential
13. SARONA BELIEVES IN AN ALTERNATIVE MODEL
Development of Private Equity Industry in Emerging Economies
• Started in mid-90s
• Managers seek international business experience…
then come home
• Capitalized by Development Finance Institutions
• Strong emphasis on ESG criteria and positive
outcomes
• More than just capital
Sarona at TBN Annual Conference, London 25 May 2012 Confidential
14. INVESTORS ARE BEGINNING TO SEE IT TOO
Now recognizing the potential
14 Sarona at TBN Annual Conference, London 25 May 2012 Confidential
15. INVESTORS ARE BEGINNING TO SEE IT TOO
They want to align their investment with their values
• Ethical
• Environmental
• Social
Sarona at TBN Annual Conference, London 25 May 2012 Confidential
16. SARONA’S VISION
Working to bring our contribution to Security, Stability and Sustainability
• Bridge between private capital and entrepreneurial growth in Frontier and
Emerging Markets
• Geographic and sector focus on positive change, for all stakeholders, where it is
most likely to occur, given the appropriate inputs
• Alignment of interests
• Focus on positive outcomes valuable to “them”, not us
• Benefiting from long experience and an expanding network of partners and
supporters (OPIC deserves a special mention)
Sarona at TBN Annual Conference, London 25 May 2012 Confidential
17. TRUE TO OUR ETHICAL AND MORAL VALUES
• Six decades of investing in Frontier and Emerging markets under the banner of
“Business Solutions to Poverty”
• Migrating from a direct investment portfolio to a more scalable, sustainable, and ‘safer’
model for investors and investees: Private Equity Fund of Funds portfolios
1953:
MEDA is
formed to 1997: Co-founded 2002: Co-founded 2009/10: Sarona
invest in Latin America Challenge MicroVest Capital Frontier Markets
Sarona Dairies Investment Fund Management Fund 1 LP
2012 : Sarona
Frontier Markets
Fund 2 LP
1993: Sarona Risk 1999: Sarona 2007: Sarona Risk 2011: Sarona Asset
Capital Fund (under Global Capital Fund 1 LP Management Inc.
various names) Investment Fund spins out of MEDA
17 Sarona at TBN Annual Conference, London 25 May 2012 Confidential
18. WHAT WE LOOK FOR IN OUR GPS…AND WE LOOK HARD!
• Local presence, knowledge, experience: an ‘edge’
Frontier Market Focus • Narrow focus on a strong geography and/or sector
• Active value-add approach, relevant to frontier markets
• Target profitable deals in growth stage companies
Profit Focus • Value-add: Transform companies to world class excellence
• Move companies from low to higher liquidity market
• Transparent and recognized valuation practices
ILPA Adherence • High quality legal documents
• Strong governance; alignment of interests
• Diversification, selection, due diligence pre-deal
Risk Mitigation • Monitoring, active management and proximity post-deal
• Experience and thoughtfulness at all times
• Explicitly driven by progressive values
Positive Outcome Focus • Small/mid-market companies; internal demand of mid-class
• Leaders in implementing ESG criteria
18 Sarona at TBN Annual Conference, London 25 May 2012 Confidential
19. STABILITY THROUGH LONG TERM DIVERSIFICATION
Portfolio Exposure Portfolio Exposure Portfolio Exposure
by Region by Sector by Country
Latin America/Caribbean Agribusiness Health India Mexico Philippines
Africa Info/Communication Tech Education Turkey Thailand Other (32
South Asia Consumer Goods Affordable Housing Kenya Indonesia countries)
East Asia Clean energy Professional Services Peru Morocco
Financial Services Sustainable Forestry
Light Manufacturing Water
19 Sarona at TBN Annual Conference, London 25 May 2012 Confidential
20. SARONA’S IMPACT SO FAR
Investible Universe
China and Russia
Developed Markets
41 countries 15,156,215 - Clients Served 11 funds
19,100 - Permanent Employees 54 Companies
3 continents 198.5 - Renewable Energy Megawatts 12 sectors
Sarona at TBN Annual Conference, London 25 May 2012 Confidential