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Architecting an Integrated Capital Fund

Architecting an Integrated Capital Fund

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Architecting an Integrated Capital Fund

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  1. Architecting an Integrated Capital Fund Prosperity Indiana January 30, 2019

  2. FINANCING FRESH FOOD GENERATION INVESTMENT TERMS $5,000 accelerator prize $54,000 on Kickstarter $34,000 at 5% over 5 years $11,000 at 8% over 1 year $50,000 line of credit plus $215,000 self-liquidating equity 2013 GRANT 2014 CROWD 2015 LOAN 2017 BRIDGE 2018 LOAN 2

  3. growing processing repurposing consuming distributing

  4. 4

  5. INVESTMENT CRITERIA To restore productive capacity, we need to invest in just, resilient and healthy enterprises. COMMUNITY RESILIENCE • Place • Nature • Relationships ECONOMIC JUSTICE • Ownership • Opportunity • Participation ENTERPRISE HEALTH • Finance • Leadership • Organizations 5

  6. HOW WE’LL DEPLOY NOTE PROCEEDS • LOANS • (75% of Portfolio) • Secured debt • Unsecured debt • Working capital • Royalty structures • EQUITY • (25% of Portfolio) • Preferred equity • Common equity • Convertibles • Self-liquidating equity 6

  7. IMPACT COVENANTS • Our term sheets include impact covenants that formalize the enterprise’s commitment to help close the wealth divide and strengthen the local economy. • Examples include: • Paying a premium to living wage • Capping compensation ratio between highest and lowest paid workers • Sustaining and creating jobs in low-income neighborhoods • Building worker ownership through cooperatives and Employee Stock Option Plans • Sustaining and increasing race and gender diversity for board, management and staff • Pursuing local and equitable procurement options 7

  8. WE’LL KNOW WE’RE EFFECTIVE IF… • Asset ownership by people of color and women increases • Number of jobs held by people of color and women increases • Number of employees earning at or above a Living Wage increases • Quality of jobs increases, as indicated by benefits and workforce development opportunities • Inequality decreases as indicated by ratio of compensation paid to highest vs. lowest paid workers • Diversity of workforce, management and board increases • Local sourcing increases 8

  9. IMPACT ASSESSMENT DASHBOARD 9

  10. INVESTMENT TERMS * Community Notes are open to Massachusetts residents only 10

  11. DEBORAH FRIEZE deborah@bostonimpact.com 617.340.6630 www.bostonimpact.com @bosimpact 11

  12. APPENDIX

  13. IMPACT INVESTING SPECTRUM The F.B. Heron Foundation New York Times, 08.07.2017 13

  14. 88 ACRES Nicole Ledoux created the88 Acres allergy-free concept after her now- husband and business partner Rob Dalton, had a severe allergic reaction to nuts on their first date. The 88 Acres management team aims to continue to build a tasty national brand while creating quality local jobs, sourcing locally, and practicing environmental sustainable operations. IMPACT HIGHLIGHTS 14

  15. WASH CYCLE LAUNDRY Wash Cycle Laundry is a commercial laundry service provider and second-chance employer operating in Philadelphia and DC. They launched their Boston operation in Q4 2017, in partnership with Neighborhood Developers and Roca. IMPACT HIGHLIGHTS 15

  16. FRESH FOOD GENERATION Fresh Food Generation is a café, food truck and catering business committed to serving healthy local food inspired by Latin American and Caribbean cuisine. They are focused on creating meaningful livelihood opportunities for people of color from in low-income neighborhoods. IMPACT HIGHLIGHTS 16

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  18. SUNWEALTH is a clean energy investment firm that lowers barriers to solar access and generates bond and tax equity investment opportunities. BII Fund invested in the Interfaith Solar Project, providing solar to three well-known churches in low income communities. Over the life of the project, the churches will be able to put more than $180,000 back into the local community based on energy savings. IMPACT HIGHLIGHTS 18