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SJF Ventures III, L.P.
United States of America
Last updated 13 May 2020, by Impactyield.
Fund geography
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (113)
SJF Ventures is an expansion stage venture capital fund focused on delivering superior financial returns through investments in high growth, positive impact companies. SJF has a fourteen-year successful record of assisting visionary and talented management teams in building industry-leading firms. SJF provides strong expertise and networks in the cleantech, sustainability and technology-enhanced services sectors.
SJF Ventures has offices in Durham, NC, New York and San Francisco and actively sources deals nationally but often in off-the-beaten track geographies. The firm provides equity financings from $1MM to $10MM, solo or in syndicates, to companies typically realizing over $1MM in trailing sales and at an inflection point for growth. SJF's investment committee has more than 80 years of investment and operating experience as well as early leadership in cleantech investing. SJF Ventures I, II & III portfolios consist of 36 companies pursuing various sustainable strategies across a cross section of investment areas including renewable energy and efficiency, recycling, grid and infrastructure technologies, sustainable consumer brands, digital media and outsourced business services.
Asset class
Fund status
Fund style
Financial description
SJF Ventures III, L.P. seeks to generate superior returns in high-growth, positive impact companies by investing equity capital in growth stage businesses. The fund aims to capitalize on favorable macro trends, an evolved investment strategy, and competitive access to companies. Over the last 14 years, SJF Ventures has evolved its investment strategy from mission first to market rate and now superior returns. Like most venture funds, SJF seeks to realize investor returns through company liquidity events typically within a 5 year holding period. SJF typically participates in senior preferred securities with liquidation preferences, dividends and board representation or other preferred voting rights. SJF also considers secondary purchases of common stock in select transactions. SJF Ventures III, L.P. will lead investments of $2 to $6 million in size or participate as a co-investor in larger syndicates, if required.
SJF Ventures II is a top quartile performing fund and SJF III is projected to meet or exceed this return profile.
12 years
of track record
2012
the year funded
n.a.
AUM
Interested in this fund?
Log in or create an account to request more information.
Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
SJF Ventures
Headquarters location: United States of America
Other funds managed by this asset manager: SJF Ventures II, L.P.SJF Ventures I, L.P.
Impact Category
Key performance indicators
Fund overview
Asset manager: SJF Ventures
Product track record: Fund has 12 years of track record
Target IRR: 20%
Committed Capital: 90,000,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Closed - still investing
Style/Stage: Growth Stage, Late Stage, Secondary
Inception year: 2012
Vintage year: 2012
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
Target close date: n.a.
Product term: 10 year term
Assets under management: n.a.
Investment size: Min: 1,000,000; Max: 7,000,000; Avg: 3,000,000
Co-investment policy: LPs have priority, With LPs and non-LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 4
Fund investments to date exited or repaid: 0
Management fee: 2%
Carried interest: 20%
Hurdle rate: 1.15x%
GIIN Investors' Council Investment: Yes
Limited Partners / Investors: Limited Partners from Fund III First Close: Citibank Deutsche Bank Calvert Armonia Abacus Trillium CAPROCK OpenBox ImpactAssets Multiple family and individual investors Limited Partners from Fund I and II: Abacus Wealth Partners Bank of America Calvert Mutual Fund Community Development Venture Capital Alliance Citibank, a member of Citigroup Credit Suisse Deutsche Bank F.B. Heron Foundation Macquarie Funds Group HSBC John D. and Catherine T. MacArthur Foundation Key Bank Mary Reynolds Babcock Foundation Metropolitan Life Insurance Opportunity Finance Network Pennsylvania BFTDA State Street Bank Trillium Asset Management Wells Fargo
Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors, Retail Investors
Contact
E-mail: akapoor@sjfventures.com rdefieux@sjfventures.com cnystrom@sjfventures.com
Website: http://www.sjfventures.com
Phone number: 919-530-1177
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Cody Nystrom
Principal
Dave Kirkpatrick
Managing Director
Impact Performance
n.a.
Impact thesis
SJF conducted its tenth annual Mission Impacts survey in 2011 with the 16 most active companies from the SJF Ventures I, LP and SJF Ventures II, LP portfolios. These annual surveys help validate SJF Venture's fund strategy of investing in companies that are driving positive impacts through environmental, social and workforce development innovations. SJF Ventures believes that there should not be a trade-off between investor returns and impacts. Alternatively, company practices driving positive environmental and societal impacts should also be the same attributes that can help drive growth and accelerate success.
Together, SJF's three funds have invested in 36 companies to date and employ more than 7,000 people. In 2010 80% of these employees were below area median income, 61% were from minority groups, and 60% were women. Many of these firms also have positive environmental impacts.
A detailed report describing the specific impacts of SJF Ventures portfolio companies can be found here - http://www.sjfventures.com/wp-content/uploads/2009/06/SJF-2011-Positive-...
Impact Management
n.a.