SCIM Pledge Fund
Last updated 12 May 2020, by Impactyield.
Emerging countries (256) / Latin America and the Caribbean (38) / Caribbean (8)
SCIM Pledge Fund is incorporated under Dutch law in 2016 with Suriname Capital Investment Management as its GP. The pledge fund structure provides the investors with pre-drawdown transparency in the chosen deals.
The fund seeks long-term capital appreciation through the investment in primarily SMEs in the Caribbean, which are believed to be innovative and competitive players in their industry. The opportunities within the Caribbean are primarily created by the sizable finance gap effecting SME and the lack of Private Equity activity in the SME finance market up until this point.
The fragmented state of the region’s economy, provides room for expansion from national to regional level. The finance gap, combined with insufficient levels of managerial knowledge, have made it impossible to exploit the room for expansion created by the CARICOM free trade union between the 15 largest nations within the Caribbean.
The Fund will focus on providing growth and venture capital in the key sectors of Agribusiness, Renewable Energy, Water, Waste management, Technology and Bioprospecting.
The Fund will invest equity and equity related securities in SME companies and start-ups with high growth potential. The companies will have proven products or processes with key competitive advantages within a growing market. The investments will have minimal, if any, gearing. The fund aims to build strong integrated platforms, which add value to primary production.
Participation in the Fund will be on a subscription basis, exclusive of the organizational expenses. The target return for these investments is 15%.
of track record
the year funded
Substantially reduce waste generation
Encourage companies to adopt sustainable practices and sustainability reporting
Sustainable food production and resilient agricultural practices
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
Asset manager: Suriname Capital Investment Management
Product track record: Fund has 7 years of track record
Target IRR: 15%
Committed Capital: 0 EUR (Euro)
Target return category: Risk-adjusted market-rate of return
Fund domicile: Netherlands
Product status: Open - no committed capital
Style/Stage: Early Stage, Growth Stage, Seed Stage
Inception year: 2016
Vintage year: n.a.
Target region: Caribbean, Emerging countries, Latin America and the Caribbean
Target close date: 01/10/2016
Product term: 3
Assets under management: 50,000,000 EUR (Euro)
Investment size: Min: 2,000,000; Max: 20,000,000; Avg: 5,000,000
Co-investment policy: LPs have priority, With LPs and non-LPs
Currency of investments: EUR (Euro)
Currency for fund / product figures: EUR (Euro)
Fund investments to date: 0
Fund investments to date exited or repaid: 0
Management fee: n.a.
Carried interest: 20%
Hurdle rate: 5%%
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors, Retail Investors
Phone number: +31 (0)88 00 49250
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The primary impact objective of the Fund is to help increase the income of the population above poverty level by stimulating environmentally sustainable production. The region has tremendous potential due to its geographic resources, which can be developed to high standards while maintaining a sustainable long-term production horizon in mind.
By investing in innovative sustainable enterprises that have a multifaceted positive influence on the economy and environment as a whole, the Fund facilitates the improvement of living standards and the conservation of the ecosystem.
The Fund’s investments are governed by criteria geared towards (1) the sustainable utilization of natural resources, (2) cultural knowledge, (3) innovative solutions to facilitate the alleviation of poverty, and (4) expansion opportunities. These will be measured and monitored by using non- financial IRIS metrics and the commitment to become a GIIRS rated fund.