Terra Bella Fund SICAV-SIF S.A. (Farmers for Forests)


Last updated 12 May 2020, by Impactyield.

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The Terra Bella Fund is a frontier private equity fund that invests in small holder agriculture linked to reducing deforestation in developing countries.

Fund investments produce environmentally, socially and economically sustainable landscapes, building significant sources of income for communities from production of non-timber forest products and high-value sustainably produced agricultural commodities linked to forest conservation.

Combining climate change mitigation and the production of sustainable local and forest-linked agricultural crops is at the core of investment strategy to generate sustainable long-term returns to Terra Bella investors.

Returns are generated from agricultural, non-timber forest products, sustainable timber as well as through sale of emission reductions to emerging markets and results based programs.

Financial description

Investing in projects that combine climate change mitigation and the production of sustainable small holder local and export agricultural crops, non-timber forest products and sustainable timber is at the core of investment strategy alongside generating sustainable long-term returns in the Terra Bella Fund. The Fund leverages the technical experience and pipeline of the leading advisory firm Terra Global Capital.
Currently, the Terra Bella Fund has a pipeline of projects that is globally diversified across developing countries. A majority of these are projects with which Terra Global has had a working relationship for over a year, and thus the firm understands the true potential for returns generation for the Fund.

8 years

of track record


the year funded

100,000,000 USD


Asset manager

SDG goals

SDG targets

Increase financial resources to conserve and sustainably use ecosystem and biodiversity

Substantially reduce corruption and bribery

Sustainable food production and resilient agricultural practices

Full employment and decent work with equal pay

Key performance indicators

Fund overview

Asset manager: Terra Global Investment Management

Product track record: Fund has 8 years of track record

Target IRR: 20%

Committed Capital: 40,000,000 USD (US Dollar)

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

Fund domicile:

Product status:

Style/Stage: , , ,

Inception year: 2015

Vintage year: n.a.

Target region: ,

Target close date: 01/12/2015

Product term: 12 year term

Assets under management: 100,000,000 USD (US Dollar)

Investment size: Min: 200,000; Max: 10,000,000; Avg: 2,000,000

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 0

Fund investments to date exited or repaid: 0

Management fee: 2.5%

Carried interest: 20%

Hurdle rate: 6%%

GIIN Investors' Council Investment: Yes

Limited Partners / Investors: Please contact us for further information (Due Diligence Questionnaire and Prospectus available). leslie.durschinger@terraglobalcapital.com

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


E-mail: leslie.durschinger@terraglobalcapital.com

Website: http://www.terraglobalcapital.com/terra-bella-fund

Phone number: 1-415-215-5941

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

Leslie Durschinger

Chief Investment Officer

Impact Performance


Impact thesis

Terra Bella Fund investments deliver social and environmental benefits at scale. This approach is at the core of TGIM’s mission alongside generating sustainable long-term returns to the Terra Bella Fund.
Environmental, Social and Financial Return Profile of Terra Bella
- Catalyze $1 billion in new investments (through Fund reinvestments and co-investments) to reduce deforestation and improve rural livelihoods through sustainable land-use management
- Sustainably manage 6,750,000 hectares of forest and agriculture landscapes and protect biodiversity
- Produce 425,000,000 tons of third party verified emission reductions (equates to 7 million cars off the road over life of fund)
- Improve livelihoods of over 1 million people and generate new smallholder income streams from sustainably produced local and high value export agricultural crops, non-timber forest products, and timber
- Deploy transparent, independent monitoring systems to secure tenure and improve governance where investments are made
 Frontier investment fund with return objective of 20% net IRR p.a.

Impact Management


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