Adobe Social Mezzanine Fund I, LP

Mexico

Last updated 12 May 2020, by Impactyield.

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Adobe Capital is the first triple bottom line impact investment fund focused on supporting the early growth of social and sustainable SMEs in Mexico.



Financial description

The Fund focuses mainly on providing quasi-equity or mezzanine investments (from US$100,000 to US$3 million) to high-impact SMEs. The Fund’s investment structures ensure pre-defined, debt-like exits, without foregoing any equity-like upside, while providing portfolio companies with capacity building and technical support to continue pursuing their deep social missions.

11 years

of track record

2011

the year funded

22,000,000 USD

AUM

Asset manager

Adobe Capital

Website

Headquarters location:

Other funds managed by this asset manager: Adobe Mezzanine Fund II, LP

SDG goals

SDG targets

Equal rights to ownership basic services technology and economic resources

Encourage companies to adopt sustainable practices and sustainability reporting

Expand and upgrade energy services for developing countries

Promote policies to support job creation and growing enterprises

Increase access to financial services and markets

Key performance indicators

Fund overview

Asset manager: Adobe Capital

Product track record: Fund has 11 years of track record

Target IRR: 20%

Committed Capital: 15,500,000 USD (US Dollar)

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage: ,

Inception year: 2011

Vintage year: 2013

Target region: , , ,

Target close date: n.a.

Product term: 10 years

Assets under management: 22,000,000 USD (US Dollar)

Investment size: Min: 100,000; Max: 3,000,000; Avg: 1,500,000

Co-investment policy: ,

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 7

Fund investments to date exited or repaid: 0

Management fee: 3%

Carried interest: 20%

Hurdle rate: 8%%

GIIN Investors' Council Investment: Yes

Limited Partners / Investors: DEG, Corporacion Andina de Fomento (CAF), Calvert Investments, US Family Office, Avina Foundation, Halloran Philanthropies, Mexico Ventures, KL Felicitas Foundation and Promotora Social Mexico

Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Other Institutional Investors

Contact

E-mail: n.a.

Website: http://www.adobecapital.org

Phone number: +52 55 5604-5555 x3301

If you wish to have your details removed from this database please email gdpr@impactyield.com


Erik Wallsten

Managing Partner

Rodrigo Villar

Partner

Impact Performance

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n.a.

Impact thesis

Small and Medium Enterprises (SMEs) have significant potential to drive economic growth and innovation in developing markets. Additionally, many SMEs pursue triple bottom line returns and as such play a critical role in helping to solve important global challenges such as poverty reduction and climate change.
Despite their impact potential, SMEs in developing countries face significant constraints in accessing capital. This “missing middle” in terms of both debt and equity financing exists as their average capital requirement is too small and risky for commercial banks and private equity players, but too big for microfinance institutions. The Fund will thus invest in Mexican SMEs which have adopted innovative business models focused on commercializing environmentally friendly products and/or alleviating poverty by serving low-income, BoP communities.

Impact Management

n.a.

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